Brakes India and ADVICS announce Rs 500 crore JV

financialexpress.com:

Brakes India and ADVICS, Japan’s leading premium brake system supplier, plan to form a joint venture to design, develop and manufacture advanced braking products for the Indian light vehicle market.

The joint venture entity will focus on developing advanced braking products in a phased manner for the Indian market, of which Electronic Stability Control (ESC) will be among the initial products to be rolled out.

A green field project, this JV entity will be funded by both Brakes India and ADVICS with 51:49 shareholdings. Based out of the southern part of India, the company will be set up with an investment of over Rs 500 crore, employing more than 300 people over the next few years.

Together, this partnership will leverage the strengths of both companies across advanced global technology, localization capabilities, quality systems, manufacturing processes and superior customer connections.

Vasudevan K, President, Light Vehicles, Brakes India says, “Looking at the growth of hybrid and battery electric vehicles (HEV/BEVs) in India and the increased demand for autonomous driving features, it is imperative for us to bring superior offerings to our customers.”

He added, “Our investments in R&D and localization combined with proven global technology of ADVICS will accelerate the adoption of these advanced braking systems while leveraging decades-old collaboration between the TSF and AISIN Group. To begin with, the products manufactured at the JV company will be supplied to the Indian Light Vehicle market through the parent companies.”

Keizo Oda, Chief India Officer, ADVICS says, “We are respecting decades of experience and capability of Brakes India in the Indian automotive industry. We are proud of our advanced technology