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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

3574.85 -29.85 (-0.83%)
12-May-2026 16:01 View Price Chart
Peers
Company Name CMP
Havells India 1194.00
Siemens 3574.85
Apar Inds 12450.10
ABB India 6330.20
Waaree Energies 3124.75
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