Escorts Group leaves Auto Component business

The Escorts Group has officially announced its departure from the auto products business. The company has sold its Auto Product division to Badve Engineering Ltd., Pune, in an all cash deal. This step has been taken to focus on Escorts' core business verticals, including agri-machinery, railway equipment and construction.

Escorts was into the component supply business in the automotive domain. It manufactured products like shock absorbers, telescopic front forks, McPherson struts, special dampers, and steering components. These were then supplied to OEMs as well as to the replacement market in the country.

The company had presence in all segments of the Indian automotive industry, including motorcycles, scooters, passenger cars, commercial vehicles, and multi-utility vehicles.