United States-based automotive component supplier, Magna International has signed a 50/50 joint venture agreement with Tata AutoComp Systems.
23 Sep 2014 | 17921 Views | By Akbar Merchant
United States-based automotive component supplier, Magna International has signed a 50/50 joint venture agreement with Tata AutoComp Systems. This joint venture, which will be set up in Pune, will provide seating systems to future Tata Marcopolo products and other Tata commercial vehicles. Magna International is a leading global automotive supplier ...
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United States-based automotive component supplier, Magna International has signed a 50/50 joint venture agreement with Tata AutoComp Systems. This joint venture, which will be set up in Pune, will provide seating systems to future Tata Marcopolo products and other Tata commercial vehicles. Magna International is a leading global automotive supplier with 317 manufacturing operations and 83 product development, engineering and sales centres in 29 countries.
Speaking on the development at a media visit to the Magna facility in Michigan, USA, last week, Ajay Tandon, MD and CEO, Tata AutoComp Systems, said: “Tata AutoComp has always been the frontrunner in offering cutting-edge technologies to its customers through its partners. This partnership with Magna will expand our portfolio to now bring the latest in seating systems to the Indian commercial vehicle industry.”
Tata AutoComp Systems provides products and services to Indian and global automotive OEMs as well as Tier 1 suppliers. Its clients include most major auto OEMs in all segments like passenger vehicles, utility vehicles, small and light commercial vehicles, M&HCVs, farm and off-highway equipment manufacturers. Tata AutoComp has its own capabilities in automotive interior and exterior plastics, composites and sheet metal components. It also offers engineering and supply chain services to its customers. Besides, the company has 5 joint ventures in partnership with leading companies from the global auto component Industry and has 29 manufacturing facilities spread across India and China.
Meanwhile, Magna International recently also revealed news about it supplying two industry-first systems on the BMW i8 plug-in electric sports car. Magna will supply the wing mirrors with hidden turn signals for the i8. Apart from this, Magna’s new SmartLatch system is also a new innovative way of providing low-cost latch solutions for new vehicles.
Magna International’s Magna Powertrain operating unit is supplying the all-wheel-drive system for the soon-to-be-launched Mercedes-Benz GLA SUV. This system was jointly developed by Magna and Daimler and also sees duty on the Mercedes A45 AMG and CLA 45 AMG models.
Also see: Magna to supply industry-first technologies to BMW i8: http://bit.ly/1tlQvuj