Brakes India forms JV with Japanese firm for advanced braking products
Brakes India on Wednesday announced its plans to develop and manufacture advanced braking products for the domestic light vehicle market in a 51:49 joint venture partnership with Japanese AISIN Group company ADVICS at an investment of Rs 500 crore over the next three years. The joint venture entity will focus on developing these products in a phased manner of which Electronic Stability Control (ESC) will be among the initial products to be rolled out, Brakes India said in a statement.
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The green field facility will be funded by both partners, who will leverage strengths of both companies across advanced global technology, localisation capabilities, quality systems, manufacturing processes, among others, it said.
«There is growth of hybrid and battery electric vehicles (HEV/BEVs) in India and the increased demand for autonomous driving features. Our investments in R&D and localisation combined with global technology of ADVICS will accelerate 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,» said M Vasudevan K, President Light Vehicles, Brakes India.
Over the years, Brakes India, which is a part
