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Steel Strip Wheels Limited (SSWL) has signed a Memorandum of Understanding (MoU) with Israel-based Redler Technologies to set up a joint venture in India.

The joint venture will focus on the development, manufacturing, and marketing of innovative, state-of-the-art motion control systems of to develop motion-control solutions for two-, three- and four-wheeled electric vehicles in India.

The Chandigarh-based SSWL is a leading global automotive wheel maker and will lead the effort to support the EV market product penetration, the company said in a statement.

The Redler Technologies is an engineering firm that designs and produces patented servo motion control systems, intelligent circuit brakers, and power distribution systems.

"The Association will synergises SSWL's manufacturing capability, large customer access and strong presence in India with Redler's access to advance technology to significantly contribute towards ATMANIRBHAR BHARAT theme of India," the company said.

This will help to bring state-of-the-art technology products with an aim to promote 'Make In India, Make For World', it added.