Lumax Auto Technologies has signed joint venture (JV) agreement with Yokowo, Japan to manufacture and supply on-board antennas and other vehicle communication products to the Indian automotive industry. Under the Joint Venture, both the partners will have a 50:50 share in the new entity to be named Lumax Yokowo Technologies.
Yokowo will bring its world?class technology for its products to the joint venture and Lumax will provide its pan India network with OEMs and over three decades of rich experience towards the management of partnerships in India. The focus of JV is towards self?reliance in technology & establish a state?of?the?art manufacturing operations in India. The manufacturing of the vehicle communication devices will commence from November 2021.
Lumax Auto Technologies has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industry. They operate in two segments, namely Automotive Parts and Trading of Motor Adjusters.
