Valeo Service India Auto Parts, a new Valeo-Anand joint venture, will distribute products made by both groups in the independent aftermarket across India, under the Valeo brand name.
The joint venture company will be based in Chennai. Valeo has been a supplier in India since 1997. It has over 2,000 employees at five production sites in Chennai and Pune and an R&D facility in Chennai.
With the joint venture, Valeo is targeting the “fast-growing” automotive independent aftermarket business in India. It makes clutches, friction materials, lighting systems, security systems, starters and alternators.
The Anand group makes automotive systems and components and supplies every engine and vehicle manufacturer in India.