Punch Powertrain has reached agreement to acquire French electronics company Apojee, although financial details were not disclosed.
Apojee works in the field of Power Electronics with customers in the German and French Automotive industry (both OEMs and Tier 1s), as well as in motorsports (inverters for Formula E and for Formula One).
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The company is located in Clermont-Ferrand, with additional offices in Nice and Munich, counting 50 employees in total.
“With this acquisition Punch Powertrain is rapidly increasing its R&D capacity in the field of Power Electronics with expertise covering the entire chain from product conception to production support,” said a Punch Powertrain statement.
“This contributes to achieving the objectives of Punch Powertrain, namely accelerated EV development and a stronger position in the field of electric and hybrid transmissions.”
The acquisition adds a fourth European development centre for Punch Powertrain, in addition to the existing ones at its headquarters in Sint-Truiden, Belgium, Eindhoven in The Netherlands and Flechtorf, Germany.
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By GlobalDataLast year, Punch Powertrain opened three new locations. In February, a new Iranian factory was inaugurated, indicating the start of installation of facilities for mass production. In July, the German TEG was acquired and in October the new factory in Nanjing (China) became operational.
In addition, the workforce at the Eindhoven office grew by 42% to more than 100 employees. The headquarters in Sint-Truiden took on 321 new employees in the same year.
This year the first expansion – the acquisition of Apojee – will be followed by the opening of a new production plant in Ningbo (China) on 7 February. The new location of 106,859m² will house the production lines of current products from Nanjing.
As applies to production at all international plants, the quality-critical main components will be produced in Sint-Truiden.
