# TECO buys 25% stake in Zept for e-car powertrain joint development

TECO Electric & Machinery purchased a 25% stake in Zept Corp., gaining a board seat, to jointly develop e-car powertrain systems. The alliance targets Taiwan and Asia-Pacific markets.

- Type: Acquisition
- Announced: 2021-04-12
- Where: TWN
- Status: announced
- Products: e-car powertrain, electric motors, electric control units, transmissions
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Teco Electric & Machinery Co.](https://endata.com/companies/17228.md) (acquirer)
- [Zept Corp.](https://endata.com/companies/54376.md) (target)

## Sources

- [teco.com.tw](https://www.teco.com.tw/en-us/press/news/20210412), 2021-04-12: "TECO Electricd & Machinery announced today (April 12) purchase of 25% stake in Zept Corp., which enables it to have a seat on the latter's board of directors, forming an alliance for the development of e-car powertrain."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.