Rane TRW Steering Systems (RTSSL), a joint venture between Chennai-based Rane group and US-based TRW, is entering the power steering fluid market by launching a product for the commercial and utility vehicles.
The company, which is into manufacturing and marketing hydraulic power steering and seat belts, is expecting to sell around 1 million litres of power steering fluid, Power Cruze, in the first three years through its distribution chain and authorised service network.
"We have received response from authorised dealers and customers that spurious and sub-standard steering fluids used in the steering systems are affecting the performance of our power steering systems. So, we are launching a specially designed product for the protection of steering systems in commercial and utility vehicles," said Harish Lakshman, managing director, RTSSL.
At present, there are few players in the niche segment of steering fluid market in India, he added.