Lumax Auto Technologies has signed a joint venture agreement with Francisco Albero S.A.U., (FAE) Spain to manufacture and supply Oxygen Sensors to the Indian automotive industry. Lumax Auto Technologies will own the 51% of the joint venture company, Lumax FAE Technologies, with FAE owning the remaining 49%.
The JV company will make an initial investment of Rs 14 crore for an installed capacity of 2 million Oxygen Sensors, and the production is expected to commence from early 2019. With this move, Lumax FAE Technologies will be a key supplier for technologically advanced, innovative & affordable Oxygen Sensors (O2) for the India market, with further scope for expanding the product line.
Further, the new entity, Lumax FAE Technologies, will invest both in development and localization of manufacturing capability to become the pioneer supplier of this product in India.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 125.00 |
| Tube Investments | 2789.65 |
| Bosch | 37505.60 |
| UNO Minda | 1097.30 |
| CIE Automotive India | 490.15 |
| View more.. | |
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