Lumax Auto Technologies, Alps Electric Co. to set up JV in India
Lumax Auto Technologies has agreed to create a joint venture (JV) in India with Japanese firm Alps Electric Co. for manufacturing and selling electric devices and components including software pertaining to the automotive industry.
The joint venture will be owned equally by the parties.
Based in India, Lumax Auto Technologies is an integrated auto component manufacturer. The company has been engaged mainly in the manufacturing of lighting products for two wheelers.
Lumax Auto Technologies, Alps Electric Co. to set up JV in India. Photo courtesy of Anita starzycka from Pixabay.
Alps Electric Co., on the other hand, manufactures electronic devices such as switches, sensors, potentiometers, encoders, and touchpads.
Lumax Auto Technologies and Alps Electric Co., will have the right to appoint three directors each for the board of the joint venture.