Pricol ties-up with China-based firm for electric water pump
Auto component company Pricol has partnered with a China-based firm for launching electric water pumps in the Indian market.
Pricol has entered an exclusive partnership with Dongguan Shenpeng Electronics for electric water pumps in the domestic market. Through this partnership, the company plans to strengthen its pumps and allied products portfolio by developing engine cooling solutions complaint to BS-VI norms.
Meanwhile, Dongguan Shenpeng Electronics which is a major automotive OEM supplier for Electric Coolant Pump would gain access to the Indian market in the electronic mobility cooling solution space. The company supplies components to major automakers like Renault, Nissan, Geely, Chery and BYD in China.
Following the news, at 14:55 hours, Pricol was trading at Rs. 122.10 per share, up by 4.85 per cent on Monday.