Fiem Industries has informed that the company has signed one Memorandum of Understanding (MoU) with Gogoro India (A group company of Gogoro Taiwan) to expand its product portfolio in 2-Wheeler Electric Vehicles (EV) segment. In addition to Lighting & Rear View Mirror business, the company will manufacture Hub Motor Assembly, Electric Control Unit (ECU) and Motor Control Unit (MCU) for Gogoro. In terms of MoU, Gogoro will provide the technical know-how and other support in setting-up manufacturing facility as well as production, quality and testing support for above new product line. The company is seeing a huge business potential in 2-Wheeler EV segment and looking to expand its product portfolio to cater this segment in addition to Automotive Lighting and Rear View Mirrors etc. Other details, as required under Regulation 30 of Listing Regulations read with SEBI Circular CIR/CFD/CMD/4/2015 dated 9th September, 2015, are given in Annexure-A. In this regard, a press release is also enclosed as Annexure-B.
The above information is a part of company’s filings submitted to BSE.
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