 "Vitesco Technologies, Padmini VNA to set up JV for BS-VI powertrain tech")
Germany-based Vitesco Technologies has partnered Padmini VNA Mechatronics for setting up a 50:50 joint venture company for select powertrain technology solutions that meet the new BS-VI emission standard for domestic market.
The product range of the new joint entity 'PV Clean Mobility Technologies' will be focusing on sensors and actuators, as well as fuel delivery modules for passenger cars, commercial vehicles as well as two-wheeler markets, a release said.
The aim of forging a partnership is to create an outstanding local supplier for the Indian automotive market by combining strengths and expertise in joint solutions for clean drive systems.
Besides, it will also open up major growth opportunities for both the companies, the release added.
Vitesco Technologies is a leading international developer and manufacturer of powertrain technologies for sustainable mobility, with system solutions and components for electric, hybrid and internal combustion vehicles.
Its product range includes electric drives, electronic control units, sensors and actuators, and exhaust gas aftertreatment solutions.
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The Gurugram-based Padmini VNA is a leading manufacturer of auto components for passenger cars, commercial vehicles, two-wheelers, three-wheelers and tractor segment.
"Our commitment to clean air is fully aligned to local legislative norms. Apart from that our "in the market, for the market" - strategy ensures that our powertrain technologies are affordable for local markets.
"We are excited to working with all leading automotive manufacturers in India as their partner of choice through this joint venture," Anurag Garg, head of Vitesco Technologies India, said.
The two partners are also working together with their local customers to increase vehicle efficiency and reduce emissions, the release said.
"Together we are pursuing the mission of shaping the future of clean mobility. We see this as part of our responsibility to society and as a reliable partner for our customers," Kabir Bhandari, co-owner of Padmini, said.
India offers strong growth opportunities driven by the need for clean, efficient and affordable propulsion technologies, said Peter Biber, head of business development & strategy sensing and actuation business unit, Vitesco Technologies.
"With this joint venture we are able to provide our customers with optimal support on site. In order to meet local requirements in the best possible way, for example with regard to design and development lead times, we are bundling our strengths in a lean company that can act agile and flexible," Biber added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)