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New Delhi: Lumax Auto Technologies Limited announced that it had signed a Memorandum of Understanding with Ananda Drive Techniques, China for manufacturing and sale of various powertrain products for electric vehicles including automotive motors and controllers for a wide range of electric vehicles.

As per the release, this MoU is expected to lead to setting up of a manufacturing facility in India towards the end of FY 2020-21 to manufacture and sell EV motors and controllers to the OEMs in India.

This will be under the aegis of the Government of India’s FAME-II policy.