Siemens invests in Indian EV future

The Munich-based battery manufacturer snaps up charger maker

Siemens invests in Indian EV future
India's e-mobility sector has relatively stronger two- and three-wheel vehicle demand compared to many peers

German engineering heavyweight will acquire the EV division of Mumbai-based Mass-Tech Controls as it looks to “complete [its] portfolio of e-mobility solutions” and meet the infrastructure demands of the Indian market. In a deal worth c.€4.3mn, the firm is pinning its hopes on a domestic player to best meet the unique requirements of India’s EV market “such as lower power rating and parallel charging”.


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