Japanese auto parts manufacturer TPR has invested $5 million in Israel's Aquarius Engines, the company announced Tuesday.
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TPR was already a non-material shareholder in Aquarius Engines. Aquarius Engines plans to use the new capital to accelerate the development, production, and distribution of the its engine in Japan and elsewhere.
The news comes as the two companies continue to negotiate an additional TPR investment in Aquarius Engines' subsidiary in Tokyo, as reported in October 2021. As well as a potential manufacturing agreement under which TPR will manufacture Aquarius Engines' products in Japan.
"TPR is a leading force in the Japanese automotive industry, specializing in engine parts. Beyond the monetary investment, we see TPR as a natural partner to champion our interests in Japan and beyond," said Ariel Gorfung, CEO of Aquarius Engines.
TPR was the second major Japanese automotive company to invest in Aquarius Engines, following Honda affiliate Musashi Seimitsu in 2019.
