Groupe Renault acquires Power Vehicle Innovation
Groupe Renault has acquired Power Vehicle Innovation (PVI), with a view to accelerating the growth of its Light Commercial Vehicle business.
PVI works in the design and conversion of commercial vehicles running on natural gas or electricity and Renault will provide economies of scale for the purchasing of components as well as a significant technology portfolio.
"We are very pleased to welcome PVI's team specialising in electric conversions to Groupe Renault," said LCV Division SVP, Ashwani Gupta. "This acquisition is part of the Group's strategy to develop its business by proposing a range of electric LCVs coupled with connected services.
"As the number one European manufacturer of electric LCVs, this is a [n] opportunity for our teams to work on the next generation of this type of car."
PVI has previously worked with Groupe Renault on the development and electrification of the upcoming Renault Master ZE.
The acquisition also includes Escal, a subsidiary in which PVI has a 95% stake. Escal specialises in the distribution, installation and maintenance of security systems for lifting vehicles.
Escal manages PVI's service, maintenance and mechanical integration activities. Both PVI and Escal, with a combined workforce of 93 employees, are attached to the Groupe Renault's LCV Division.