Siemens to take over Mass-Tech’s EV segment

Siemens, a German multinational firm involved in power transmission and generation announced an agreement to acquire Mumbai-based Mass-Tech Controls’ electric vehicle (EV) branch for Rs 380 million. Siemens anticipates to extend its market position in India and establish an export centre with this acquisition. Additionally, Mass-Tech’s EV segment will be incorporated into Siemens’ electric-mobility business unit. The acquired assets will help Siemens complete its range of electric mobility solutions while catering to the Indian market.

In October 2022, NTPC and Siemens Limited signed a Memorandum of Understanding (MoU) to test the feasibility for hydrogen co-firing blended with natural gas in Siemens V94.2 gas turbines installed at NTPC’s Faridabad gas power plant. The total installed capacity of Faridabad gas power plant is 432 MW with two V94.2 gas turbines operating in combined cycle mode.

Also, in August 2022,Siemens Gamesa Renewable Power won a contract from Azure Power Global of India to supply onshore wind turbines for a 346 MW wind power project. In accordance with the agreement, Siemens Gamesa will provide 96 of its onshore SG 3.6-145 wind turbines to Azure Power for use in Karnataka.