ASK Automotive Limited, India’s largest manufacturer of brake shoes and advanced braking systems for two-wheelers, announced a joint venture agreement with AISIN Group Companies, comprising AISIN Asia Co. Ltd. and AISIN Automotive Haryana Private Limited, to market and sell the auto components in Independent Aftermarket for passenger car products.
With this Strategic Collaboration, both companies endeavour to expand their footprints across India, Nepal, Sri Lanka and Bangladesh for Independent Aftermarket (IAM) of Passenger Car Products.
This joint venture is poised to leverage ASK Automotive’s deep distribution network strength and AISIN Group Companies’ renowned product excellence. This union of expertise and resources is aimed at enhancing the accessibility of high-quality passenger car products in the Independent Aftermarket for the end users.
Speaking on the joint venture, Kuldip Singh Rathee, Chairman and Managing Director, ASK Automotive Limited, said, “As we embark on this journey with AISIN Group Companies, we are driven by our vision to deliver high quality and innovative products meeting global standards in all automotive segments. This Joint Venture will enable us to leverage our collective expertise and resources to serve the four-wheeler passenger car segment in domestic and international aftermarket. This venture will capitalize on ASK and AISIN Brands, providing a diverse portfolio to cater to evolving market demands.”
Speaking on the joint venture, Aman Rathee, Executive Director, ASK Automotive Limited, said, “Our Strategic Joint Venture with AISIN Group Companies will expand our Aftermarket Business significantly in India. I foresee a great success for this Joint Venture capitalizing the synergies created by ASK and AISIN Group in the Independent Aftermarket ecosystem”
Expressing his perspective on the joint venture, Yasuhiro Nakamura, President of Aisin Asia (Thailand), said, “We envision our joint venture with our esteemed partner ASK Automotive Limited not just as a collaboration, but as a convergence of expertise, culture, and innovation. Together, we journey toward success, shaping the future of the Indian Automotive Aftermarket sector to contribute to a safe and secure car life in India.”
The Joint Venture Agreement between ASK Automotive and AISIN Group Companies is subject to customary regulatory approvals and is anticipated to be completed in the coming months.
