Shriram Pistons & Rings to acquire majority stake in EMF Innovations

Shriram Pistons & Rings, through its wholly-owned subsidiary SPR Engenious, will acquire a majority stake in EMF Innovations, an electric motor design and manufacturing firm, to enter the EV space. The deal value was not disclosed.

“With this strategic investment, the company aims to expand its presence in electric vehicle (EV) space to supply electric powertrain components, such as motor and controller, covering all the vehicle segments from two-wheelers, three-wheelers, passenger vehicles and commercial vehicles.”economictimes.indiatimes.com

• 2 sources
• economictimes.indiatimes.comShriram Pistons: Shriram Pistons to acquire majority stake in EMF Innovations to foray into EV space - The Economic TimesDec 16, 2022
• timesofindia.indiatimes.comShriram Pistons & Rings to acquire Singapore-based EMF Innovations - Times of IndiaNandini Sen GuptaDec 16, 2022

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