Visteon has set up two 50:50 joint ventures with Tata AutoComp Systems (TACO). Both ventures will be based in Pune.
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The first company, Taco Visteon Automotive Products (TVAP) will manufacture lighting systems, powertrain components and air induction systems, while the other company, Taco Visteon Engineering (TVEC) will provide CAD, CAE and allied engineering services for Visteon’s global operations. TVAP’s will be focused on the domestic auto sector while TVEC is aimed at servicing Visteon’s operations in US and Europe.
Visteon is initially investing US$12.5 million in the venture, to be followed by further investments later. The company termed the joint ventures as a short cut route to an aggressive ramping up of its growth in the region. Visteon aims to gain from Taco’s existing supplier infrastructure, knowledge base and engineering expertise. Visteon is also aiming to enter into a relationship with Tata Motors soon.
Visteon has been present in India for over seven years and has manufacturing facilities in Chennai, Pune and Bhiwadi in Rajasthan. In India, Visteon manufactures radiators, cooling modules, HVAC (heating, ventilation, airconditioning) and engine cooling systems, instrument clusters, and also develops embedded software for automotive applications.
Deepesh Rathore / Tilak Swarup
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