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SIEMENS TO ACQUIRE MASS-TECH CONTROLS’ EV DIVISION, EXPANDING EMOBILITY OFFERING IN INDIA
Post the acquisition, the EV division of Mass-Tech Controls will be fully integrated into the e-Mobility Business Unit of the Smart Infrastructure Business, Siemens Limited.
In a step to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India, Siemens Limited signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls Private Limited. The division is engaged in the design, engineering and manufacturing of a wide range of AC chargers, and 30 to 300kW capacity DC chargers for various end applications for EVs.
While Siemens is active globally in the e-mobility infrastructure space for more than a decade, the addition of products will complete Siemens India’s portfolio of e-mobility solutions and will address the needs of the Indian market. The Indian market has unique requirements such as lower power rating and parallel charging.
Encouraged by the FAME-II policy of the Government of India and electric vehicle policies notified by various state governments, the electric vehicle market in India is in the midst of a transformation.