Uno Minda, a Delhi-based auto components maker, has formed a joint venture with Kosei Aluminum Co. Ltd, a Japanese alloy wheel maker, to manufacture and sell alloy wheels in India. The new project will be set up with a total investment of $32 million, with Uno Minda holding a 70 per cent stake and Kosei Aluminum the balance 30 per cent.
The new company, called Minda Kosei Aluminum Wheel Pvt. Ltd., being set up at Bawal in Haryana, will manufacture alloy wheels for car makers in India, including Mahindra and Mahindra Ltd. and Maruti Suzuki India Ltd. It will commence production from February 2016 and will have a capacity of 60,000 units per month in the first phase.