/PRNewswire/ According to Technavio, the global electric vehicle transmission system market size is estimated to grow by USD 24604.48 million from 2022 to.
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Hero Motors acquires stake in British EV transmission specialist Hewland Engineering ANI | Updated: Jan 18, 2021 17:38 IST
New Delhi [India], Jan 18 (ANI): Automotive component manufacturer Hero Motors Company (HMC) on Monday announced securing a strategic stake in United Kingdom s transmission design technology leader Hewland Engineering Ltd.
The acquisition will enable Hero Motors to create a competitive single source entity to design and manufacture high-quality transmission products, particularly in the emerging EV segment, to original equipment manufacturers (OEMs) across North America, Europe and India, it said.
The acquisition will also enable Hewland to further strengthen its product and service portfolio particularly in the area of transmissions for electrified passenger cars and pursue opportunities among global OEMs and tier one suppliers.
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