Pricol Limited (BSE: 540293 / NSE: PRICOLLTD) has recently announced an exclusive agreement with Wenzhou Huirun Electrical Machinery Co., Ltd for technical collaboration and,  supply and production of Fuel Pump and Fuel Pump Modules in India.

Through this strategic agreement, Pricol intends to further strengthen its automotive pump portfolio in India and will now become a comprehensive supplier of Fuel Pump Module required for Electronic Fuel Injection Systems. Wenzhou Huirun will support Pricol Limited with product & process technologies for new business opportunities arising in all segments like 2 wheeler, 3 Wheeler, 4 Wheeler, Commercial vehicle and Off-road vehicle (both Petrol & Diesel systems).

With an initial investment of INR 200 Million over the next 3 years, Pricol Limited eyes a market share of more than 30% in the 2 wheeler segment in India. With already confirmed order for this product with a leading 2 wheeler OEM in India, Pricol Limited plans to manufacture 3 Million to 6 Million Fuel Pump Modules post the implementation of BS VI.

After the implementation of BS VI norms in India by 2020, the entire two wheeler industry will migrate to the Electronic Fuel Injection System and the fuel pump module will be the key product in its functioning. The Fuel Pump Module controlled by Engine control unit (ECU) will inject metered amount of Air & Fuel mixture into the engine for effective combustion.

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