Precision Camshafts Limited (PCL) has acquired 51 percent equity shares of Netherlands-based EMOSS Mobile Systems, a one-stop solution for electric powertrains. With this PCL forays into electric mobility. The acquisition paves the way to mature electrical mobility markets such as Europe, North America, and Australasia. Emoss promoters will continue to hold 49 percent and remain actively involved in the day to day activities.
“We are looking at capturing a significant share of the commercial electric vehicle market globally. This acquisition will enable PCL to become a global leader in the automotive industry with a wide variety of solutions ranging from niche machined components for the internal combustion engine, brakes, steering and chassis to a complete end to end solution for electric mobility,” said Yatin Shah, PCL’s Chairman, and Managing Director.
“As we approach enormous changes in transport and mobility, we – as experts on electrical drivetrain technology for heavy equipment, are faced with large opportunities. With PCL as a partner, we will not only have access to the working capital we need for our growth but PCL also brings the entrepreneurial spirit and experience in growing organisations we were looking for. In addition, PCL has an understanding of the automotive industry. Emoss is at this stage a forerunner in the industry and has tremendous ambitions to continue growing. We are confident that PCL is the right partner to manage this growth in the right direction,” said Edwin Hobbel, Emoss Managing Director.