- Industrial technology manufacturing company Littelfuse Inc LFUS Hirtenberger Automotive Safety formed a product development joint venture referred to as Pyro Technology for Intelligent Circuit Disconnection (PYTIC).
- The financial terms of the transaction remain undisclosed.
- Through this collaboration, PYTIC has jointly developed a highly innovative product, the Pyro Safety Module (PSM).
- The PYTIC PSM caters to the most advanced electric vehicles, including the 500V and 1,000V power classes.
- The PSM's most crucial advantage over other products is its even faster detection of the overcurrent event and thus a significantly faster and safer disconnection of the battery from the rest of the vehicle.
- Price action: LFUS shares traded lower by 0.61% at $248.04 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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