The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers

The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers

The transaction involved Endurance purchasing 51% stake in Maxwell Energy System Pvt. Ltd (Maxwell), a subsidiary of ION Energy Inc. (renowned energy tech start-up) with remaining 49% to be purchased in a phased manner over 5 years – Maxwell is engaged in the business of development, manufacturing, assembly and selling of advanced electronics in the form of battery management systems (BMS) and battery focused power distribution units for electric vehicles and energy storage systems – Endurance is one of the leading automotive component manufacturers having a diverse range of technology intensified products with operations in India and Europe. ETL is engaged in designing / engineering, manufacturing of aluminium castings, suspensions, braking systems and transmissions – Maxwell’s BMS is the first specific EV product in Endurance’s portfolio, Endurance plans to leverage Maxwell’s deep technical expertise developed over the years and its BMS deployment experience in Indian and European conditions – Endurance aims to offer its products to multiple new customers, including Indian automotive OEMs and battery pack manufacturers