Pricol inks pact with BMS PowerSafe for manufacturing Battery Management System; stock zooms ~2%

8 Jul 2022 , 12:14 PM

Pricol Limited informed that it has entered into a Licensing Agreement with BMS PowerSafe SAS, Merignac, France (the brand of Startec Development Group) on July 7, 2022, for providing Battery Management System to the OEMs in India market and international markets, across all vehicle segments.

Pricol is authorized to manufacture, distribute, and sell the Battery Management System to customers for integration into their battery pack or storage system. BMS PowerSafe SAS will develop software and provide its BMS platform to PRICOL Limited as per the requirements of customers.

Pricol and BMS PowerSafe SAS will collaborate to determine the customer requirements and specifications in order to deploy end-to-end solutions.

The Agreement will be valid for 5 years unless the Parties decide to extend it through a subsequent written agreement.

At around 12.18 PM, Pricol was trading at Rs139.20, up by 2.64% against previous close of Rs136.40 on NSE. It touched intraday high and low of Rs143.80 and Rs138.75 respectively.