ASK Automotive, AISIN Group enter into JV for passenger car segment_ASK Automotive, AISIN Group enter into JV for passenger car segment

ASK Automotive, AISIN Group enter into JV for passenger car segment

June 2, 2024

Auto parts maker ASSK Automotive said Wednesday it has signed a joint venture agreement with Japanese auto parts supplier Aisin Group. As part of the partnership, the two partners will sell auto parts in the "independent passenger car aftermarket," ASK Automotive said in a statement.

The deal, which has not yet been approved by regulators, is expected to close in the coming months.

ASK Automotive manufactures brake pads and advanced braking systems for two-wheelers and the Aisin Group consists of Aisin Asia (Thailand) Ltd. and Haryana Pvt. Ltd.

Through this strategic partnership, the two companies aim to expand their presence in India, Nepal, Sri Lanka and Bangladesh, thereby developing an independent aftermarket in this sector.

Kuldipipipipip Singh Rathee, Chairman and Managing Director, ASK Automotive Ltd "The joint venture will enable us to leverage our collective expertise and resources to service four-wheeled passenger vehicles in the domestic and international aftermarket."

Yasuhiro Nakamura, President, Aisin Asia (Thailand) "Together we are succeeding in shaping the future of the Indian automotive aftermarket and contributing to a safe and reliable automotive life in India."

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