Takata Corporation engaged in the manufacture and sale of safety systems for automobiles, including seatbelts, airbags and steering wheels, has entered into a joint venture agreement with Anand Automotive Systems to manufacture airbags, seatbelts and steering wheels in India for Indian OEMs. The JV company, Takata India Private Ltd., will be majority owned by Takata Corporation.
In June 2007, after receiving an approval from the Foreign Investment Promotion Board (FIPB), Takata Corporation established Takata India as a wholly-owned subsidiary. Subsequently, the company began construction of a new plant in Chennai. Now it is planning to build another plant in Neemrana, near Delhi. Both plants will manufacture seatbelts, airbags and steering wheels, and will cater to the Indian domestic automobile companies.
Anand Automotive Systems manufactures a variety of automotive components and systems including shock absorbers, filter systems, engine components, drivetrain products, exhaust systems, climate control & engine cooling systems, brakes, friction materials, adhesives, etc. It has 42 manufacturing facilities in India with an extensive customer base in the OE and aftermarket.
With Anand’s substantial manufacturing and sales know-how and wide knowledge of the Indian automotive market, Takata India will further strengthen its base for manufacturing and supplying safety systems for automobiles, an area where demand is expected to grow, with growing awareness of automobile safety and strict Government regulation. Takata India, with its two manufacturing facilities in the strong automotive hubs in South and North India, will be well poised to play an important role and contribute to India’s automobile industry.
