EV Does It

Motorcar Parts acquires EV powertrain, energy storage company

Motorcar Parts of America, Inc., of Torrance, Ca., announced Wednesday it has acquired Binghamton, New York-based E&M Power. The acquisition reflects another company’s venture into the electric vehicle market, which seems to grow in scope every day—and in this case, also involves the growing energy storage sector. E&M has a wide EV powertrain portfolio, as well as capabilities for microgrids and energy storage that it is constantly developing, the companies said.

“The acquisition of E&M Power complements the industry position of D&V Electronics, our wholly owned subsidiary, and expands its electric vehicle powertrain portfolio. In addition, the acquisition provides entry into the aerospace market through E&M’s unique technology and its key customer relationships. The increasing complexity and development of electric powertrain systems are important catalysts for growth, and this acquisition further establishes us as a leader in this market,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America, Inc., said in a January 2 press release. Terms of the asset purchase transaction were not disclosed.

“E&M’s advanced power emulators for hybrid and electric vehicle motor development and its DC emulator capabilities for microgrid and energy storage greatly enhance our market position – providing highly respected technology, operational synergies and future growth opportunities,” said William J. Hardy, chief executive officer of D&V Electronics.

Industry sources estimate the global automotive powertrain testing market is approximately $11.7 billion per annum, enhanced by the ever-increasing complexity of automotive systems, and the global active load emulator and DC emulator market is estimated to be $250 million, and growing.

“We look forward to exciting sales synergies as we combine the unique technologies of E&M Power and D&V Electronics, which target the same key customers in the automotive industry. In addition, our combined technologies will offer exciting expansion opportunities in the aerospace industry,” said Dave Eddy, president and co-founder of E&M Power.

No comments yet... Be the first to leave a reply!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: