TATA AutoComp Systems Limited (Tata AutoComp) and Punch Powertrain have signed a Memorandum of Understanding (MoU) to form a 50/50 joint venture (subject to regulatory approvals) in their efforts to bring sustainable innovations in mobility solutions to the Indian market at an affordable cost.
The new joint venture (JV) will be responsible for the design, manufacturing, marketing and sales of the revolutionary compact dual clutch transmission design (DT1) in India and to global markets. The JV will also carry out a wide range of activities to supply Punch Powertrain’s conventional-hybrid DCTs, continuously variable transmission (CVT) and EV reducers to customers in India.
“We are excited about strengthening our collaboration with TATA AutoComp, one of the leading auto component conglomerates in the Indian market,” said Jorge Solis, Chief Executive Officer, Punch Powertrain. “Our companies share a strong technology focus and a commitment to supply innovative technologies at an affordable cost. This new venture will spearhead our activities in India, enabling us to support existing and potential new customers locally, and broadening our access to this new market.”
The creation of an India-based joint venture will enable Tata AutoComp’s expertise to be leveraged to fully localize production and offer “Made in India” powertrain solutions to Indian OEMs at affordable costs.
“Tata AutoComp has always been a pioneer in introducing cutting edge technology to its customers. This new joint venture will help bring the latest powertrain technologies, manufactured locally, to our customers. We are proud of this association with Punch Powertrain, which is committed to serve the Indian market with its wide portfolio of powertrain technologies.”
– Mr. Arvind Goel (MD & CEO Tata AutoComp)
SOURCE: Punch Powertrain