Shriram Pistons to enter EV parts industry, acquire stake in e-motor specialist EMFI

Shriram Pistons & Rings has announced plans to acquire majority stake in EMF Innovations, a Singapore-based electric motor design and manufacturing company through its wholly owned subsidiary, SPR Engenious. This will mark Shriram Pistons & Rings’ foray into the EV Mobility space. 

As per the company statement, EMFI is a technology company co-founded by engineering entrepreneurs with substantial R&D and operations in India and Singapore, providing localised cost-effective e-mobility solutions to customers in India and overseas. EMFI leverages its strength in power electronics, motor research base and extensive semi-automated manufacturing eco-system to deliver reliable EV motors and controllers.

Commenting on the proposed investment, Krishnakumar Srinivasan, MD and CEO of Shriram Pistons & Rings said that with this strategic investment, SPRL aims to supply electric powertrain components such as motors and controllers covering all vehicle segments – two- and three-wheelers, passenger vehicles, commercial vehicles and buses.

The alliance also offers potential for SPRL (through SEL) and EMFI to collaborate and partner to cater to customers globally.

The acquisition will enable SPRL to diversify EMFI’s product portfolio by leveraging its technological and production capabilities and SPR’s marketing, sales and service strengths in India. The overall goal is to gain leadership in the country’s rapidly growing e-vehicles market while delivering high-quality customised e-mobility solutions speedily.

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.