Lumax Auto Technologies has signed a Memorandum of Understanding (MoU) with Ananda Drive Techniques (Shanghai), China for manufacturing and sale of various powertrain products for Electric vehicles (EV) including Automotive Motors and Controllers for a wide range of electric vehicles. This MoU is expected to lead to setting up of a manufacturing facility in India towards the end of FY 2020?21 to manufacture and sell EV motors and controllers to the OEMs in India. This will be under the aegis of Government of India’s FAME?II policy.
Lumax Auto Technologies has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industry. They operate in two segments, namely Automotive Parts and Trading of Motor Adjusters.
