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Auto component maker Tata AutoComp Systems and Magna International Inc. have signed a 50:50 joint venture agreement to provide seating systems to the Indian commercial vehicle industry. The JV will be focused on delivering innovative seating systems to commercial vehicle manufacturers as well as buses, company said in a statement.
“This partnership with Magna will expand our portfolio to now bring the latest in seating systems to the Indian commercial vehicle industry. With the rapid increase in infrastructure, we envisage more and more vehicles plying long distances. Seating systems in commercial vehicles have not yet evolved in India. With the rapid increase in infrastructure, we envisage more and more vehicles plying long distances In such a scenario, the safety and comfort of both driver and passengers is paramount. Through this joint venture , we intend to address this increasing need of the industry” says Ajay Tandon, MD & CEO of Tata AutoComp Systems.
The JV will be headquartered in Pune, Maharashtra, India and will supply seating systems to customers in India.
Mike Bisson, president, Magna Seating said, “The combination of Magna’s seating expertise and Tata AutoComp’s knowledge of the Indian market provides both companies an opportunity for growth in the commercial vehicle market. Leveraging our expertise in automotive seating and delivering it to the commercial vehicle market in India is an important part of our global growth strategy.”
