Preh is to acquire ePower, a business unit of Kongsberg Automotive, Norway.

EPower was founded in 2011 to develop and market on-board chargers which are now in series production and used in powertrains for electric and hybrid vehicles.

The company currently employs 20 people and has two development centres in Gothenburg and Mullsjö in Sweden. In addition, the high-tech specialist draws on a network of around 50 engineering consultants, who operate out of Sweden and India.

"EPower is a speedboat in one of the most dynamic growth segments of the automotive industry," said Preh CEO, Christoph Hummel.

"As a young company, ePower has the creativity and innovative power of a start-up, but at the same time, its team has demonstrated a high level of professionalism in cooperation with renowned customers such as Volvo and Lynk & Co."

The contracting parties have not announced the purchase price and the transaction is expected to close by the end of this year.

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