Valcourt, Quebec, Canada, July 7, 2022 – BRP (TSX:DOO; NASDAQ:DOOO) announced today that it has entered into a definitive agreement to acquire Great Wall Motor Austria GmbH, a subsidiary of Great Wall Motor based in Baoding, China. This leading EV R&D centre based in Kottingbrunn, Austria, specializes in e-drive systems and transmissions and currently employs highly skilled individuals who will receive ongoing employment as part of this agreement.
“We look forward to welcoming the 53 very qualified and experienced engineers, technicians and professionals as we continue reinforcing our EV expertise required to deploy our ambitious strategy. This acquisition will further strengthen our know-how in e-motor, inverter hardware and software development”, said Thomas Uhr, Chief Technology Officer of BRP.
Located near Vienna, Austria, this new EV R&D hub is ideally situated to attract top talent from nearby universities and research centres.
The transaction is subject to customary closing conditions, including the receipt of Austrian regulatory approvals and is expected to close by the end of Q2 this fiscal year.
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