MUMBAI: Tata AutoComp Systems, the auto-component arm of the Tata Group on Friday entered a joint venture with Beijing-based Prestolite Electric to enter the electric vehicle (EV) components market. The joint venture company will develop powertrain solutions for the Indian EV market.
Owned by the Broad Ocean Motor Group, the Chinese partner brings to the table access to technologies for various powertrain products like motors and controllers as well as integrated drivetrains.
Meanwhile, Tata AutoComp offers its well-established supply-chain network in the country.
With this, Tata AutoComp’s products in the EV segment now include motors, controllers, integrated drivetrain, battery pack, battery management systems, among others, as well as EV chargers, the company said in a statement.
“We are pleased to partner with the Broad Ocean Motor Group through Prestolite Electric and Shanghai E-Drive as they have the latest technology and are amongst the top players in powertrain products for electric vehicles,” said Arvind Goel, MD & CEO, Tata AutoComp Systems Limited.
“Through this JV, we will serve all segments of the EV industry from 2 & 3 wheelers, passenger vehicles, commercial vehicles and buses.”
The chairman of Broad Ocean Motor Group, Charles Lu said that the partnership will open the gates to the evolving Indian market for his company.