Minda TTE DAPS will manufacture and supply rear parking and auto parking aid systems, cameras and around view monitor systems to automakers in India.
27 Apr 2017 | 22607 Views | By Autocar Professional Bureau
Minda Industries, the flagship company of the UNO Minda Group, is partnering Tung Thih Electronic Co (TTE) to set up a 50:50 joint venture in India. TTE is a premier Taiwanese player engaged in the manufacture and sale of driving assistance products and systems (DAPS).
The JV, proposed to ...
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Minda Industries, the flagship company of the UNO Minda Group, is partnering Tung Thih Electronic Co (TTE) to set up a 50:50 joint venture in India. TTE is a premier Taiwanese player engaged in the manufacture and sale of driving assistance products and systems (DAPS).
The JV, proposed to be named Minda TTE DAPS, will supply rear parking aid systems, auto parking aid systems, cameras, and around view monitor systems 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 a state-of-the-art greenfield manufacturing facility in NCR, which will have a world-class paint shop and assembly line. It is aimed at enabling both partners to make a deeper foray into the fast growing and dynamic Indian automotive electronic market with a specific focus on passenger and pedestrian safety products.
Announcing the JV, Nirmal K Minda, CMD, Minda Industries, said, “With advancement in technology, electronics content in automobiles will continue to rise. This JV will have a head-start in terms of offering technologically superior products and is in line with our strategy to expand our product offering in the electronic segment.”
Scott Chen (Shin-Chung Chen), CEO and chairman of TTE, who was in India to sign the JB pact, echoed Nirmal K Minda’s optimism and expressed TTE’s commitment to bring advanced technology products at price points suitable for the Indian market