Enters the electric vehicle Fai-Man to acquire electric vehicle company

According to foreign reports, Federal-Mogul CEO Jose Maria Alapont said that Federal-Mogul is seeking an opportunity to acquire an electric vehicle company and intends to supply electric vehicle transmission systems, electric motors, and electric vehicle charging infrastructure equipment.

Alapont added: "Mogul has no intention of becoming a battery manufacturer, but would like to supply components for the battery system. There are many companies investing in the development of electric vehicles in China. We have many opportunities to acquire such an electric vehicle company in China.

“In the past, our globalization has been from the United States to Europe and Asia. Now we can do the opposite and apply China’s electric vehicle technology to North America and Western Europe.”

Federal-Mogul revenue reached $1.54 billion in the third quarter, up 11.9% from the 1.38 billion in the same period last year. In the first nine months of this year, Federal-Mogul's revenue rose 18.1% year-on-year.