Kerala Govt To Take Over BHEL EML To Tap Into Demand For Electric Vehicles

The Kerala government is all set to tap into the demand for electric vehicles in the state. The government is planning to takeover the state-run Maharatna company BHEL’s subsidiary, BHEL Electrical Machines Ltd (EML). BHEL EML, a public sector unit based in Kasaragod, Kerala, manufactures traction motors and control devices used in electric vehicles. The Kerala government’s takeover of BHEL EML estimates the latter’s asset value at $7.7 Mn (INR 53 Cr). The Restructuring and Internal Audit Board (RIAB), a state-owned enterprise that executes states reform initiatives, has been entrusted with the task of completing the deal formalities, The New Indian Express reported. ref: https://inc42.com/buzz/kerala-govt-to-take-over-bhel-eml-to-tap-into-demand-for-electric-vehicles-in-state/