Rane Group, India’s leading auto component manufacturer, today announced its foray into manufacturing and marketing Power Steering Fluid – ‘Power Cruze’. Rane TRW Steering Systems Ltd (RTSSL) a 50:50 JV between Rane Group and TRW Inc., USA, market leader in hydraulic power steering systems in India will be manufacturing and marketing this product through its extensive distributor network in India.
Rane TRW will roll out its premium power steering fluid ‘Power Cruze’ for the Commercial Vehicle application viz: trucks, buses, light commercial vehicles and utility vehicles initially, before launching variants and product extensions in this category followed by exclusive Power Steering Fluid for Passenger Cars. The new business venture envisages a successful continuation of its distribution network and Authorized Service Centres it has set up for its after-market.
This is the first time in India that a power steering manufacturing company is diversifying into the allied product of power steering fluid bringing all the expertise of the power steering to provide a total solution to the end customer.
With appropriate branding – and constant presence and visibility in the market, coupled with a strong distribution network will ensure that consumers will have access to genuine and high quality power steering fluid from the stables of RTSSL. The product and value offering to consumers will get further enhanced over time, as more and more products get added.
“It has been the endeavour at the Rane Group to constantly innovate and offer an enhancement in customer satisfaction with its products and offerings. With this new venture, we are moving a step closer to the end consumer,” said L. Ganesh, Chairman, Rane Group.
"Rane TRW Steering Systems is geared to explore newer opportunities in the auto-component space as Performance demands in the automotive industry continue to increase and automakers strive to deliver higher performance and improved efficiency,” said Harish Lakshman, Managing Director, Rane TRW Steering Systems Ltd. “With the entry into Power Steering Fluid market, Rane TRW is delivering market driven innovation that enables superior efficiency in power steering that makes the equipment easier to handle and extends its life.”
With a strong Rane TRW brand name in the market, and its strength and edge over competition in its ‘After Market Service Network’ along with company Authorized Service Centers, and a booming commercial vehicle market, it has been a right choice for RTSSL to enter into a business which is relevant and has a huge growth potential.
Rane TRW Steering Systems Ltd (RTSSL), a 50:50 JV between Rane Group, and TRW Inc. USA, is the market leader in Hydraulic Power Steering Systems in India. RTSSL manufactures Hydraulic Power Steering Gear, Vane Pump and Reservoir. Established in 1987 as a Joint Venture between Rane Group and TRW Automotive JV LLC, USA, today is the market leader in hydraulic power steering space in India with an annual turnover of Rs 500 crores plus ,estimated for the year 2010-2011. RTSSL caters to wide spectrum of OEMs such as Tata Motors (Passenger Cars and Heavy Commercial vehicles), Ashok Leyland, Daimler India Commercial Vehicles, Volvo-Eicher, Asia Motor Works, Mahindra & Mahindra, Renault India, Ford Motors, Hyundai Motors, Fiat India, etc.
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