Minda Industries Limited, the
flagship company of Uno Minda Group has joined hands with Tung Thih Electronic
Co. Ltd. (“TTE”), to form a 50:50 joint venture in India. Tung Thih Electronic Co. Ltd. is a premier
Taiwanese player engaged in manufacturing and sale of Driving Assistance
Products & Systems (DAPS).
The joint venture (proposed to
be named Minda TTE DAPS Private Limited) will supply DAPS, including Rear
Parking Aid Systems, Auto Parking Aid Systems, Cameras, Around View Monitor
Systems, etc. to Indian automotive OEMs.
TTE is already an approved supplier to Maruti Suzuki. Future plans
include venturing into niche technology products like Lane Departure Warning
Systems amongst others.
The JV will set up state of
the art greenfield manufacturing facility in NCR which will have a world class
paint shop and assembly line. This Joint
Venture will help both partners to make a deeper foray into the fast growing
and dynamic Indian automotive electronic space with a specific focus on
passenger and pedestrian safety products.
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