Minda Industries has received approval from its board for entering into wheel speed sensor business in India and South Korea by purchasing certain machinery from Sensata Technology Baoying and availing technical know-how and engineering support from Sensata Technology Changzhou. The total investment required is Rs 45.21 crore.
Minda Industries offers a range of products across various verticals of auto components, such as switching systems, acoustic systems and alloy wheels, among others.