Being built in collaboration with Pune-based Bharat Navigation Pvt Ltd (BNPL), the unit will start delivering global positioning navigation system products from October onwards.
J Communication, General Manager Kenny Kwon told Business Standard, the company plans to export its products manufactured in India to south asian countries and Europe.
Hyderabad-based SatNav Technologies will provide the necessary software and maps to the GPS equipments manufactured at the Chakan plant.
"Indian automobile industry is growing at five per cent annually. The automobile market in India would be worth Rs 7,60,000 crore by year 2012 and that ensures immense potential for GPS equipments in the country.
The car accessaries market will also cross Rs 56,000 crore in another three years. We are trying to explore the market opportunties in this segment through our new venture," Bharat Navigation Managing Director Summit Salunke told Business Standard .
Bharat Navigation will deliver GPS equipments comprising of video and audio players along with picture viewer and GPS tracking unit.
"There are only two players in India in this particular segment. With competitive pricing and a strong software and mapping support for 72 cities in the country, we plan to achieve sales worth Rs 50 crore during the first year," said Salunke. Bharat Navigation has priced its products between Rs 16,000 to Rs 23,000.
J Communication, a Rs 240 crore Korean company, would primarily look into the manufacturing and technology support for the products while Bharat Navigation will take care of marketing and sales. "We will disclose the share holdings in the joint venture in near future," Salunke stated.
