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Siemens inks pact to acquire EV division of Mass-Tech Controls

19 May 2023 Evaluate

Siemens has entered into definitive agreements for the acquisition of Electric Vehicle (EV) division of Mass-Tech Controls. The division is engaged in design, engineering and manufacturing of a wide range of AC chargers, and 30 to 300kW capacity DC chargers for various end applications for EVs. The purchase consideration is Rs 38 crore on a cash free and debt free basis and subject to other adjustments that are mutually agreed between the parties to the transaction.

With the acquisition, the company can address fast-growing demand for EV charging infrastructure in India, expand local market presence & enable creation of export hub. Scale up company’s range of e-mobility solutions, complementing Siemens global portfolio. 

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.

Siemens Share Price

3727.40 17.80 (0.48%)
21-Apr-2026 14:59 View Price Chart
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Company Name CMP
Havells India 1325.10
Siemens 3727.40
Apar Inds 11754.05
ABB India 7260.65
Waaree Energies 3484.35
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