Federal-Mogul is gearing up for acquisitions in order to boost its presence in the electrical vehicle technologies sector.
CEO Jose Maria Alapont told the Reuters Global Autos Summit this week that the company is looking for opportunities in the EV tech area, though it is wary of low profitability at present.
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At the moment, technology used for plug-in and battery-electric vehicles is “not necessarily very profitable” because of the still-low sales in the nascent market, Alapont said.
Alapont also said there are opportunities to buy such companies in China, where there has been a good deal of investment in electrification, and deploy that technology to North America and Europe.
Alapont told just-auto late last year that the company was looking for acquisitions all around the world and that the company had plenty of liquidity to draw from.
Full just-auto interview: EXCLUSIVE: Federal-Mogul eyes further acquisitions
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