CHENNAI: Brakes India, a TSF group company and India’s leading braking systems manufacturer together with ADVICS, an AISIN Group company and 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 a 51:49 shareholdings respectively. Based out of the southern part of India, the company will be set up with an investment of over Rs 500 crore employing over 300 people in the next few years. This partnership will leverage strengths of both companies across advanced global technology, localisation capabilities, quality systems, manufacturing processes and superior customer connect.
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. Our investments in R&D and localisation combined with proven global technology of ADVICS will accelerate adoption of these advanced braking systems. 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 believe the partnership shall bring operational synergies by integrating the strengths of both companies and further reinforcing the safety offerings for Indian customers and consumers.”