Shriram Pistons to acquire majority stake in Singapore backed company
Date: 16 Dec 2022
Pistons & Rings Limited (“SPRL”), one of India’s most recognised auto
component manufacturing has announced to acquire majority stake in EMF
Innovations Private Limited (“EMFI”), a Singapore backed electric motor design
and manufacturing Company through its wholly owned subsidiary, SPR Engenious
Limited (“SEL”). This will mark its foray into the EV Mobility space.
is a young technology company co-founded by engineering entrepreneurs with
substantial R&D and operations in India and Singapore thereby providing
localized cost effective e-mobility solutions to customers in India and abroad.
EMFI has been leveraging on its strong power electronics & motors research
base and extensive semi-automated manufacturing eco-system to deliver reliable
EV Motors and Controllers for green mobility solutions and various other
on the proposed investment, Krishnakumar Srinivasan, Managing Director &
CEO of SPRL said, with this strategic investment, SPRL aims to expand its
presence in electric vehicle (EV) space to supply Electric Powertrain
Components such as Motor & Controller covering all the vehicle segments
from two wheelers, three wheelers, passenger vehicles, commercial vehicles and
buses. This alliance will also offer potential for SPRL (through SEL) and EMFI
to collaborate and partner to serve customers globally.
also said that the electrification will play an important role in the
transformation of the mobility industry in the coming years and presents major
opportunities to the entire mobility ecosystem. In this journey, we are
delighted to join hands with EMFI to diversify our product portfolio by
leveraging their technological and production capabilities and SPR’s marketing,
sales and service strengths in India. With this, we can create a true leader in
the rapidly growing e-vehicles market while delivering high-quality customised
e-mobility solutions in record time.
further mentioned that the partnership has been forged at an opportune time
where the EV industry is on the cusp of growth trajectory facilitated by
favourable government policy and incentives. We are confident to play a key
catalyst role in electric vehicle revolution and sustainable mobility in India
and prepared to hop on to the EV bandwagon with superlative products. EMFI has
been in this market for over 4 years now and have designed & developed
products to meet the local demands and to ensure cost competitive solutions.