Varroc Engineering Limited — Regulatory Filings 2021

Mar 18, 2021

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Delta-Q Technologies Corp. and Varroc Engineering Limited enter into an arrangement for contract manufacturing of battery chargers in India

18 March 2021 |Pune:

Varroc Engineering Limited (Varroc), a global Tier-1 auto component manufacturer, has entered into a cooperation agreement (“ Agreement ”) with Delta-Q Technologies Corp (Delta-Q). Varroc will manufacture Delta-Q’s chargers in India to support the expansion of the electric two- and three-wheel vehicle market.

Based in Canada, Delta-Q is a leader in the design and supply of high-reliability on-board chargers for original equipment manufacturers in a variety of industrial and consumer markets in the US, Europe, and Asia.

Arjun Jain, Whole-time Director and the President - Electrical Business Unit at Varroc, said “Post the implementation of BSVI, the transition to EV is the most significant opportunity in the Automotive Electronics industry. With this partnership with Delta-Q, we aim to enhance our Electric Vehicle (EV) component portfolio. Our combined capabilities will create business synergies and strengthen our foothold to achieve our aspiration of becoming the leading EV component supplier in the country.”

” This contract manufacturing agreement with Varroc is a first for Delta-Q in India,” said Sarah MacKinnon - Co-CEO and CFO at Delta-Q. “Varroc has the capability and resources to support Delta-Q’s manufacturing processes. We are excited to work with them to expand our business into India and support the rapid transition to electric vehicles within our OEM customers.”

About Varroc Engineering Ltd.

Varroc Engineering Ltd is a global tier-1 automotive component group, incorporated in 1988. The group designs, manufactures and supplies exterior lighting systems, plastic and polymer components, electricals-electronics components, and precision metallic components to passenger cars, commercial vehicles, two-wheelers, three-wheelers, and off-highway vehicle OEMs directly worldwide. The group revenue was close to ₹ 11,200 crores (USD 1.5 Billion) in FY20. The group employs more than 14,300+ employees, has 44 operating manufacturing facilities across five continents, and has 161 patents as of December 31, 2020.

Varroc Engineering Limited’s shares are listed on the National Stock Exchange of India Limited (VARROC) and the BSE Limited (541578).

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About Delta-Q Technologies Corp.

Delta-Q Technologies, is charging the future, supporting the world’s transition to vehicle and equipment electrification, by collaboratively designing, testing, and manufacturing robust battery chargers that improves the performance of customers’ electric drive vehicles and industrial machines. Delta-Q’s global team services industries such as lift trucks, aerial work platforms, e-mobility, floor care machines, utility/recreational vehicles, and emerging markets, like outdoor power equipment.

Delta-Q is headquartered in Vancouver, Canada and is part of the Zapi Group of Companies. The ZAPI Group is a Global Leader in Motion Control for electric, battery supplied, and hybrid-powered vehicles. The ZAPI Group partners with top OEMs in the material handling, aerial lift and in-city transportation markets as well as in emerging industrial markets.

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