Coimbatore, Tamil Nadu, October 5, 2017
Pricol Limited, a leading manufacturer of automotive components and solutions provider for the global automotive market, today announced an exclusive agreement with Wenzhou Huirun Electrical Machinery Co Ltd for technical collaboration and, supply and production of fuel pump and fuel pump modules in India.
Through this strategic agreement, Pricol Ltd intends to strengthen its automotive pump portfolio in India and will now become a comprehensive supplier of fuel pump modules. Wenzhou Huirun will support Pricol Ltd with product & process technologies for new business opportunities arising in all segments like two-wheeler, three-wheeler, four-wheeler, commercial vehicle and off-road vehicle, in both petrol and diesel systems.
Pricol Ltd has invested Rs 200 million as an initial investment for the manufacturing of fuel pump modules required for electronic fuel injection systems for the next three years. The company is eying a 30 per cent market share in the two-wheeler segment in India.
Signing the partnership agreement, Huang Guoyao, Director, Wenzhou Huirun Electrical Machinery Co Ltd said, “Until now, majority of motorcycles in India have employed conventional carburetor fuel system. Through our exclusive partnership with Pricol Limited, we are looking forward in supporting them with our electric fuel pump and fuel pump modules which works with the most promising technology that will enhance positively the fuel economy, engine performances and also assist in reducing exhaust emissions, as compared to the conventional carburetor fuel system.”
Pricol Ltd plans to manufacture three million to six million fuel pump modules. After the implementation of BS VI norms in India by 2020, the entire two wheeler industry will migrate to the electronic fuel injection system and the fuel pump module will be an important product in its functioning as it will inject metered amount of air and fuel mixture into the engine for effective combustion.
“Our priorities will be to strengthen our product portfolio, technology and production capabilities to meet the BS-VI norms by 2020. India has overtaken China to emerge as the world's biggest market for two-wheelers,” said Vikram Mohan, Managing Director, Pricol Ltd, about the company’s goals regarding the partnership.