2024/06/05
ADVICS CO., LTD.. (Head office: Kariya City, Aichi Prefecture; President: Akira Akiyama; hereinafter ADVICS) has signed a joint venture agreement with Brakes India Pvt. Ltd. (Head office: Tamil Nadu, India; President: Sriram Vij; hereinafter "BI") to establish a joint venture company (hereinafter "the Joint Venture") for the brake business in India.
ADVICS established a manufacturing and sales company in India in 2012 and has been promoting local production of products that meet market needs. In addition, we consider business expansion in India to be an important growth strategy, and in April 2024, we appointed a new Chief India Officer (CIO) with the aim of speeding up management decision-making and execution.
As India's economic growth accelerates and its automobile market expands significantly, we have decided to establish this joint venture company in order to promote localization and increase our competitiveness while responding quickly to India's complex business environment. This will enable us to do so with BI, a leading manufacturer of automotive brakes in India, and with whom we have built a relationship of trust through many years of business dealings.
The joint venture plans to manufacture ESC *1 and other brake control products to meet the needs of local customers. Both companies will utilize their strengths to the fullest so that the joint venture can contribute to the development of India's automotive industry and the safety and security of customers.
ADVICS will continue to expand its product lineup to accommodate electrification and intelligence, and contribute to the realization of a new mobility society and carbon neutrality by delivering these products to customers around the world.
*1 Abbreviation for Electronic Stability Control (electronic stability control).
Attachment: Overview of the Joint Venture (Japanese)
Overview of the joint venture (English)