Automobile component manufacturer Pricol has entered into a technical tie-up with Wenzhou Huirun Electrical Machinery, a Chinese company, to supply and produce fuel pump and fuel pump modules in India.
A press release from Pricol said that the company would make an investment of ₹20 crore during the next three years to take the collaboration forward. With a confirmed order for this product from a two-wheeler original equipment manufacturer, Pricol plans to manufacture three million to six million fuel pump modules post the implementation of BS VI norms.
A spokesperson of the company said Wenzhou would not only provide the know how for production of fuel pumps and fuel pump modules but also supply the products. Though the agreement was for two, three, four wheelers and commercial vehicles, the focus now would be on the two-wheeler segment.
With the partnership with the Chinese company, Pricol is looking at 30 % market share in the fuel pump and fuel pump modules segment for two wheelers, according to Vikram Mohan, Managing Director of Pricol.