Advertisment

Visteon, TACO to set up two JV firms

author-image
CIOL Bureau
Updated On
New Update

MUMBAI: Automotive supplier Visteon Corporation has partnered with Tata Automotive Components (TACO) to set up two 50:50 JV companies - TACO Visteon Automotive Products (TVAP) and Visteon TACO Engineering (VTEC). Both companies are based in Pune and are already operational.

Advertisment

According to the press release, VTEC is expected to initially provide CAD, CAE and other engineering services for Visteon's offices globally. Its key customers are expected to be Visteon US and Visteon Europe.

TVAP will also use VTEC's engineering services. TVAP is a stand-alone entity, separate from Visteon India. It will manufacture engine induction systems and lighting systems. TVAP will focus on customers in India.

According to Visteon, the JVs are an indication of India's growing importance in Visteon's global and Asia Pacific strategy and will leverage the strengths of both partners to bring new technologies and new opportunities in India's rapidly growing automotive market.

Visteon operates more than 30 manufacturing facilities in the Asia-Pacific region in China, Japan, Korea, Thailand, the Philippines and India, serving global and regional automakers.

tech-news