Pricol Limited (BSE: 540293; NSE: PRICOLLTD), one of India's leading automotive technology companies, today announced an exclusive technology partnership with BMS PowerSafe., a French company part of the Startec Energy Group, to manufacture Battery Management System (BMS) for Electric vehicles across all segments.
Pricol has entered into an International licensing agreement with BMS PowerSafe to manufacture and sell Battery Management System (BMS) for Indian Market. As part of the arrangement, BMS PowerSafe will develop the software and provide its BMS platform as an end-to-end solution in consultation with Pricol.
Commenting on the partnership, Mr. Vikram Mohan, Managing Director, Pricol Limited said, "As part of our EV specific growth strategy, we constantly evaluate business opportunities in the market to provide the best solution to OEMs. One of the areas we zoned in was the Battery Management System (BMS) as it plays a vital role in any EV vehicle and complements well with our Driver Information System class of products in terms of integrations. In BMS PowerSafe, we have found an ideal partner who brings best-in-class solutions for Battery Management System with proven technology that can be customized suitably as per OEM requirements."
"Indian automotive industry is poised for exponential growth in electrification in the years to come. Pricol is an established player in this space as a solution provider with strong OEM connections and we are very excited to join hands with Pricol, wherein we bring our 20+ years of experience as a pure player in BMS and offer an end-to-end solution with highest level of safety features." says Mr Thomas Debuisser, CEO, BMS PowerSafe.
Shares of Pricol Limited was last trading in BSE at Rs. 136.25 as compared to the previous close of Rs. 140.50. The total number of shares traded during the day was 125178 in over 2529 trades.
The stock hit an intraday high of Rs. 141.20 and intraday low of 135.00. The net turnover during the day was Rs. 17208959.00.