Mass-Tech Controls Pvt. Ltd. News
Siemens To Acquire Mass-Tech Controls Pvt. Ltd.’s EV Division, Expanding eMobility Offering In India
In a step to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India, Siemens Limited has signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls Private Limited. The division is engaged in design, engineering and manufacturing of a wide range of AC chargers, and 30 to 300kW capacity DC chargers for various end applications for EVs. The cost of the acquisition is approximately Rs. 380 million (EUR 4.3 million) on a cash free and debt...