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Versa Drives gets investment from Murata Manufacturing,

Press Trust of India  |  Chennai 

: Coimbatore-based and manufacturing company Versa Drives Pvt Ltd Monday said it has received an undisclosed investment from Japan-headquartered Manufacturing Co.

The investment would be utilised to develop a line of innovative motor drives that target the electric appliances and electric vehicle OEMs (original equipment manufacturers) with superior control and efficiency, a company statement said.

"with its global presence and leadership in will help Versa Drives' products reach international markets," of said in the statement.

Versa Drives has been supplying custom-designed motor drives and is a in super-efficient ceiling fans. The company has been registering a growth rate of 30 per cent in the niche field catering to original equipment manufacturers, the statement said.

Commenting on making the investment in Versa Drives Pvt Ltd., of Manufacturing Co Hiroshi Iwatsubo said, "We see a great potential in Versa Drives' motor control productline.''

"Murata is keen to enter and storage business with high performance and high efficiency new products that solve a lot of energy issues of today and we believe that is an excellent place to focus that effort," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 11 2019. 19:16 IST