2 months ago
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Remsons Industries Ltd., which supplies cables & shifters for the automotive industry has announce the establishment of a 50:50 joint venture (JV) Daiichi of Turkey to manufacture and supply automotive electronics to auto companies in India.
“Leveraging the combined strengths of Daiichi’s proven track record in design and manufacturing and Remsons deep automotive industry experience and market presence, we are poised to create synergies that will propel us to new heights of success,” the company spokesperson said in a statement.
Daiichi, part of Dogan Group of Turkey is the original equipment manufacturers to Stellantis Group, Hyundai, Ford, Daimler, IVECO, Navistar, VW, Mahindra, ISUZU.
“Our joint venture will focus on developing advanced electronics solutions tailored to meet the demands of next-generation vehicles, including infotainment systems, digital clusters, rear view cameras, USB chargers, shark fin antennas, AVAS system, DMS,” the company said.
“Through a collaborative approach that prioritises innovation, reliability, and sustainability, we aim to empower automakers with the tools they need to drive progress and enhance the driving experience for Indian market,” it added.
The company had in last week entered into an agreement to make a majority investment in Automotive Sensor Division of Uni-Automation, a sensor technology firm for an unspecified amount.
“This proposed investment is in line with Remsons philosophy of inorganic growth into fuel agnostic products. This is also partly complimenting to our existing product line and a diversification into a future technology products. We also plan for further acquisitions and JV’s to compliment and add to the above portfolio,” said Amit Srivastava, CEO, Remsons Group in a statement.
