Tata AutoComp Systems Limited (TACO) has announced a partnership with Japan’s Ichikoh Industries Limited (Ichikoh), a company listed on the Tokyo Stock Exchange Prime Market and 61.2% owned by Valeo, to acquire Valeo’s lighting business in India. Valeo India Private Limited operates the Lighting Systems (VLS) business. TACO and Ichikoh Industries will form a 50:50 joint venture company (JVC) to complete the acquisition. JVC should cater to India’s automotive lighting market. TACO and Ichikoh are finalizing agreements to form the JVC and acquire the VLS Business, which will require statutory and regulatory approvals.
Commenting on the Joint Venture, Mr. Arvind Goel, Vice Chairman of Tata AutoComp, said:
“The formation of this Joint Venture would be another significant step by Tata AutoComp in offering
contemporary products and technologies to automotive OEMs in India. We are pleased to welcome
Ichikoh and the Valeo Group as our partner, and together with their automotive lighting expertise, we
will offer technologically superior and differentiated lighting solutions to our customers.”
Tata AutoComp’s MD & CEO, Mr. Manoj Kolhatkar, stated that the proposed joint venture will strengthen their presence in the Indian automotive market and allow them to serve multiple OEMs. This collaboration represents another milestone in Tata AutoComp’s
Journey towards providing a comprehensive portfolio of auto-component products. Mr. Christophe Vilatte, Representative Director, President and CEO of Ichikoh, stated, “Ichikoh, with its over 120-year history of technological excellence, will join forces with a new partner Tata AutoComp, which has a strong reputation for excellence.” By leveraging our strengths, we will be well-positioned to enter the rapidly expanding Indian automotive market.
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