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.
"Murata with its global presence and leadership in electronic component manufacturing will help Versa Drives' products reach international markets," managing director of Versa Drives Sundar Muruganandhan said in the statement.
Versa Drives has been supplying custom-designed motor drives and is a market leader 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., executive vice-president of Murata Manufacturing Co Hiroshi Iwatsubo said, "We see a great potential in Versa Drives' motor control productline.''
"Murata is keen to enter energy management and storage business with high performance and high efficiency new products that solve a lot of energy issues of today and we believe that India 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.)