6Jan/090
Takata, Anand Automotive sign Joint Venture
Japanese company, Takata Corporation, and the Delhi-based auto components major, Anand Automotive Systems have signed a joint venture agreement for the manufacture of seatbelts, airbags and various other components for automotive OEMs in India. Takata Corp. will have majority stake holding in the new JV company, named Takata India Pvt. Ltd. (TIPL).
TIPL will have two manufacturing facilities in India - one near Chennai and the other at Neemrana, near Delhi. With automotive safety norms expected to get tighter and more stringent in India every year, TIPL will focus on various occupant safety systems for passenger cars, SUVs, MUVs and MPVs.
[Via: indiaautomotive]