Eaton acquires EV component maker
Eaton has acquired Royal Power Solutions, a U.S.-based manufacturer of high-precision electrical connectivity components used in electric vehicles.
The US$600-million deal allows Eaton to expand its electric vehicle offerings.
“Growth opportunities tied to the electrification of our economy are accelerating, and Eaton is fully participating through our mobility and electrical businesses,” said Heath Monesmith, president and chief operating officer, industrial sector, Eaton. “And the addition of Royal Power Solutions enhances our ability to capitalize on this secular growth trend across our eMobility, aerospace and electrical businesses. We are excited to welcome Royal Power Solutions to Eaton.”
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