Pricol Limited has entered into an exclusive agreement with China-based Wenzhou Huirun Electrical Machinery, for technical collaboration, and supply and production of fuel pump and fuel pump modules in India.
Through this strategic agreement, Pricol intends to further strengthen its automotive pump portfolio in India.
Wenzhou Huirun will support Pricol Ltd with product and process technologies for new business opportunities arising in all segments including two-wheeler, three-wheeler, four-wheeler, commercial vehicle and off-road vehicle.
With an initial investment of Rs 20 crore over the next three years, Pricol eyes a market share of over 30 per cent in the two-wheeler segment in India. The company said it has got confirmed orders for this product with a leading two-wheeler OEM in India, and plans to manufacture three million to six million fuel pump modules post the implementation of BS-VI.
Huang Guoyao, director, Wenzhou Huirun Electrical Machinery Co., Ltd said that through this exclusive partnership, the company is looking forward to supporting Pricol with its electric fuel pump and fuel pump modules.
