Coimbatore-based Versa Drives, an electronics design and manufacturing company that specialises in motor control products and energy efficient appliances, has received strategic investment from Murata Manufacturing, Japan. Versa Drives supplies custom-designed motor drives.
The company says this new investment will be utilised to develop a line of innovative motor drives that target the electric appliance and electric vehicle OEMs, which will offer superior control and efficiency. Versa Drives states it has been growing at the rate of 30 percent in its niche field of catering to OEMs.
“In the recent past, Versa Drives has built a new factory of 2,500 square metres and a space of 16,000 square metres for future expansion to cater to a wider market in tune with government’s thrust to electronics and Make In India policy. Murata with its global presence and leadership in electronic component manufacturing will help Versa Drives products to reach international markets,” said Sundar Muruganandhan, managing director, Versa Drives.
Durgasharan K, director, Versa Drives, said: “Cutting-edge technologies of Murata and Japanese precision engineering will give new dimensions to our designs."
Hiroshi Iwatsubo, executive vice-president, Murata, Japan, said: “We see a great potential in Versa Drives’ motor control product line. Murata is keen to enter energy management and storage business with high performance and high efficiency new products that solve a lot of energy issues of today and we believe that India is an excellent place to focus that effort."
Karun Malhotra, MD, Murata Business Engineering India, said: "Versa Drives is involved in the design and manufacture of high efficiency devices and motor controllers and is contributing to achieving the energy vision of India. It is therefore exciting for Murata to partner with Versa Drives in developing products that will hopefully trigger growth of power electronics industry in Coimbatore region and opportunities for employment.”
Versa Drives began its journey in 1989 with a product line comprising of custom-designed counters and controllers for a variety of industries. The product line evolved to focus exclusively on motor control, which the company says has been its core strength.
Murata Manufacturing is a global leader in the design, manufacture and supply of advanced electronic materials, leading edge electronic components, and multi-functional, high-density modules, that was founded by Akira Murata in 1944. In 2018, Murata's revenue stood at $12.4 billion (Rs 87,854 crore) and was ranked in Forbes Top 100 Digital Companies list.