TSF Group firm Brakes India Ltd., in association with Japan-based Advics, has decided to form a joint venture firm in South India at an investment of more than ₹500 crore to design, develop and manufacture advanced braking products for the Indian light vehicle market.
Brakes India is a leading braking systems manufacturer with a revenue of ₹7,200 crore, while Advics is an Aisin group company and Japan’s leading premium brake system supplier with a revenue of ₹43,000 crore. The project will be funded by both firms having a shareholding in the ratio of 51:49 respectively.
The new entity will focus on developing advanced braking products in a phased manner for the Indian market, of which electronic stability control will be among the initial products to be rolled out. To begin with, the products will be supplied through the parent companies, Brakes India said in a statement.
The green field project will employ more than 300 people over the next few years. Together, this partnership will leverage strengths of both companies across advanced global technology, localization capabilities, quality systems, manufacturing processes and superior customer connect.
“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,” said Brakes India President Light Vehicles, K. Vasudevan.
“We are respecting decades of experience and capability of Brakes India in Indian automotive industry. We are proud of our advanced technology preferred by Japanese carmakers and are further expanding to the global markets,” said Advics Chief India Officer Keizo Oda.
