Padmini VNA Mechatronics, a leading manufacturing company of mechatronic components for the automobile industry, has signed an agreement with Vitesco Technologies, a leading international developer and manufacturer of powertrain technologies for sustainable mobility, to create a joint venture – PV Clean Mobility Technologies. The JV will develop, market, and distribute Hybrid & EV Products and Thermal Management Systems in India and globally.
Ownership of PV Clean Mobility Technologies will be 50:50, and it will be in Gurgaon with another plant in Chakan, Pune.
Commenting on the new joint venture, Kabir Bhandari, Managing Director, Padmini VNA Mechatronics, said: “In addition to addressing BS-VI driven growth opportunities in India, both organizations have a mutual tradition of innovating and manufacturing best in class products focused with a mission of accelerating the future of clean mobility, as part of our responsibility to society.”
Prakash Bhalekar, CEO, Padmini VNA Mechatronics, added: “Creating this JV in midst of a pandemic and in the midst of the transformation to BS6, stretched teams on both sides very hard. It took exceptional commitment, discipline and creativity to put everything together in the set timeline and in adherence to all the internal and external requirements at both companies. We hope that these attributes are reflected in the way we serve our customers and in how we blend the best of both partners into a successful partnership.”
PV Clean Mobility wholeheartedly promises to rise as a leading developer in the automotive market and is future-ready for the upcoming projects. Through these projects, it seeks to provide the best customer experience with its ground-breaking research & development, high-quality assembly, and new test methods.
The aim is to create an outstanding local supplier for the Indian automotive market by combining strengths and expertise in joint solutions for clean drive systems. The product range is focusing on sensors and actuators, as well as fuel delivery modules for passenger car, commercial vehicle and two-wheeler-markets. Both partners have a 50 percent share in the joint venture, which will be based in Gurugram, India.
Anurag Garg, head of Vitesco Technologies India and board member of the joint venture, explained: “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.”
“India offers strong growth opportunities driven by the need for clean, efficient and affordable propulsion technologies, added Peter Biber, head of business development & strategy sensing and actuation business unit and board member of “PV Clean Mobility 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”.