Tremec, a subsidiary of KUO, acquired Electric GT, Inc., an Huntington Beach, CA-based provider of plug-and-play EV conversion systems.
The amount of the deal was not disclosed.
The acquisition will enable Tremec to strengthen its product offerings in the ICE-to-BEV vehicle conversion market. The newly branded company, Tremec – Electric GT, will be based out of Electric GT’s headquarters in Huntington Beach, CA, and will report directly to Tremec leadership with access to TREMEC’s global resources. The TREMEC – Electric GT system solution provides the customer with all the components necessary for the conversion, including batteries, cabling, drive motors, inverters, gearboxes, and the control systems necessary to install and operate the system safely and effectively.
Tremec is developing solutions for electric drive units (EDUs) for the OEM, specialty vehicles and aftermarket segments. The TREMEC EDUs provide advanced motor and inverter technology combined with the company’s 60 years of experience designing and manufacturing gearboxes.
Its portfolio of products includes manual transmissions, dual-clutch transmissions, EV & HEV drivetrain solutions, gears, shafts, clutches, friction materials, shift systems, synchronizers, mechatronic systems, transmission control units and control software.
KUO is a Mexican conglomerate with annual revenue of approximately US$3.2bn as of December 31, 2022, exports to around 70 countries across every continent, and approximately 24,000 employees. Its current business portfolio includes three sectors: Consumer, Chemical and Automotive.
FinSMEs
17/08/2023