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Home arrow News arrow Alliances and Joint Ventures arrow NK Minda and Emer spa form JV for alternate fuel systems and components
NK Minda and Emer spa form JV for alternate fuel systems and components Print E-mail
Written by Ganesh   
Thursday, 01 October 2009
New Delhi: Auto components major, the Rs.1,350 crore NK Minda Group has entered into a joint venture with EMER spa, Italy to design, produce and sell alternate fuel systems and components for Indian and global requirements.

EMER will support the new venture through supply of technology, design and testing while MINDA will provide production competencies and market development services. An investment of Rs.40 crore over the next three years is envisaged in the JV.

The Minda-EMER "Gas Fuel Systems" kits will be manufactured at Manesar and is expected to be available in India in March 2010. By 2012, the production facility will have an installed capacity of 500,000 parts including 120,000 systems / kits annually. By 2012, the company expects to achieve 80% localization.

The new jointly-controlled company will be headquartered in New Delhi and will exploit the global design, production and distribution strengths of parent companies to deliver gas fuel systems to the global market.

"We believe the Indian market for vehicles and industrial engines operating on low carbon fuels such as natural gas will continue to grow rapidly. Our new partnership with Minda will create a unique company with a strong production local base to provide market-leading high performance alternate fuel systems to customers in India and around the world. With the complementary skills and experience brought to the new venture by its founding parents, we look forward to the successful launch of a major new initiative in the alternate fuels industry" said Sergio Ravagli, EMER's President of the Board.

Minda fuel kits are already available in India and are part of the standard CNG and LPG offerings in Toyota Innova and Wagon R Duo.

"Our experience in the alternate fuels vehicle business suggests that the world is on the threshold of a major expansion of the use of these fuels, and our customers are asking us for more help in rapidly developing high-quality, reliable and economical alternate fuel products for their own markets. MINDA’s experience and reputation for advanced technology, added to our leadership position in manufacturing and market support, can deliver what the market needs" said NK Minda, Chairman of NK Minda Group.

NK Minda Group has 20 manufacturing units in India in addition to manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China. It's customers include Maruti Suzuki, Tata Motors, Toyota Kirloskar, Mahindra, Bajaj Auto, TVS, Hero Honda, HMSI, HSCIL,  Volkswagen, GMIL, FIPL, RNPO, YAMAHA etc.

 
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