Tata AutoComp Systems Limited (TACO) has entered into a partnership with Japan’s Ichikoh Industries Limited — a Tokyo Stock Exchange Prime Market–listed company and 61.2% subsidiary of Valeo — to acquire Valeo’s automotive lighting business in India. The business is currently operated under Valeo India Private Limited’s Lighting Systems (VLS) division.
As part of the deal, TACO and Ichikoh will establish a 50:50 joint venture company (JVC) to execute the acquisition and serve India’s growing automotive lighting market. The formation of the JVC and acquisition of the VLS business are subject to the finalization of agreements and the receipt of statutory and regulatory approvals.
Speaking about the joint venture, Mr. Arvind Goel, Vice Chairman of Tata AutoComp, said, “The formation of this Joint Venture would be another significant step by Tata AutoComp in offering contemporary products and technologies to automotive OEMs in India. We are pleased to welcome Ichikoh and the Valeo Group as our partner, and together with their automotive lighting expertise, we will offer technologically superior and differentiated lighting solutions to our customers.”
Tata AutoComp’s MD & CEO, Mr. Manoj Kolhatkar, said the proposed joint venture will enhance the company’s footprint in the Indian automotive sector and enable it to cater to a wider range of OEMs. He noted that the collaboration marks another significant milestone in Tata AutoComp’s growth journey, reinforcing its commitment to delivering advanced, high-quality solutions to the automotive industry.
Mr. Christophe Vilatte, Representative Director, President and CEO of Ichikoh, stated, “Ichikoh, with its over 120-year history of technological excellence, will join forces with a new partner Tata AutoComp, which has a strong reputation for excellence.” By leveraging our strengths, we will be well-positioned to enter the rapidly expanding Indian automotive market.
(This content is sourced from a syndicated feed. The Japan India Manufacturing Journal website assumes no responsibility or liability for its accuracy, completeness, or content.)
COMMENTS