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

Dow Jones reported that Federal-Mogul CEO Jose Maria Alapont said Federal-Mogul is seeking opportunities to acquire an electric car company, and intends to supply electric vehicle drive systems, electric motors and electric vehicle charging infrastructure and other products.

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.