Renault Acquires Firm Specialised In LCV Electrification

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Groupe Renault has acquired a French firm specialised in LCV electrification, this move by the French carmaker indicates that the company is accelerating the rate of its Light Commercial Vehicle Business.

Renault has acquired a company named as PVI - Power Vehicle Innovation, which is specialised in design and conversion of commercial vehicles running on natural gas or electricity.

The PVI's expertise and small scales production will be beneficial to Renault. The French automaker will also provide economic support for purchasing of components and technology portfolio.

Ashwani Gupta, SVP, LCV Division said, "We are very pleased to welcome PVI's team specialising in electric conversions to Groupe Renault. This acquisition is part of the Group's strategy to develop its business by proposing a complete range of electric LCVs coupled with connected services."

Previously, PVI had worked with Groupe Renault in the development and electrification of Renault Master ZE LCV. This LCV is due to launch before the end of 2017 which will extend the company's electric LCV range.

This acquisition from Renault also includes Escal, a subsidiary company in which the PVI has a 95 percent stake. Escal is specialised in distribution, installation and maintenance of security systems for lifting vehicles.

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Story first published: Tuesday, February 7, 2017, 13:28 [IST]
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