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This joint venture in India will produce high-quality automotive parts, focusing on sustainability and advanced technology.
Date: September 10, 2024
Mumbai- JRG Automotive Industries India Pvt Ltd has established a strategic partnership with Japan's Takagi Seiko Corporation Ltd., to manufacture parts for both two-wheelers and four-wheelers for the domestic market. The joint venture involves an investment of USD 15 million (Rs. 1.23 billion).
The new facility will prioritize environmental sustainability, featuring dedicated sections for injection molding and an advanced paint shop. This joint venture will specialize in manufacturing top-tier automotive components for both two-wheelers and four-wheelers. By incorporating Takagi Seiko's innovative technologies, the collaboration aims to enhance component quality for Indian OEMs.
Mr.Pawan Goyal, Managing Director of JRG Automotive Industries India, said “This collaboration will enable us to deliver exceptional quality products that meet the rising demand for premium components, while also contributing to the local economy through job creation.”
In August 2023, the two companies initiated their strategic partnership with a technical support agreement focused on rotational molding. Following after extensive discussions, JRG Automotive and Takagi Seiko decided to expand their collaboration, culminating in the formation of a joint venture aimed at advancing painting technology.
Mr.Takagi Akihiro, President of Takagi Seiko Corporation, said, “This joint venture with JRG represents a key milestone in that strategy. By introducing our proprietary technologies, such as advanced painting processes, we aim to bring our expertise to India, a market poised for significant economic growth,”
The joint venture is expected to create about 500 direct and indirect jobs, enhancing local economic growth and community development. It will also meet the increasing demand from Indian consumers for premium-quality components, including those used in smaller cars.
