BRP Acquires EV R&D Centre In Austria

BRP Inc (NASDAQ:DOOO) has agreed to acquire Great Wall Motor Austria GmbH, a subsidiary of Great Wall Motor based in China. The financial details were not disclosed.
Wall Motor Austria is an electric vehicle research and development center specializing in e-drive systems and transmissions.
The company expects to close the transaction by the end of the second quarter.
"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", said Thomas Uhr, Chief Technology Officer of BRP.
Price Action: DOOO shares traded higher by 4.17% at $64.75 on the last check Thursday.