Lumax Auto bags order from Honda Motorcycle & Scooters

Lumax Auto Technologies has secured business from Honda Motorcycle & Scooters India (HMSI), the leader in the scooter segment in India for supply of plastic moulded parts for various models to be manufactured at their third Facility in Bangalore including Activa Scooter (110 cc), Dream Yuga motorcycle (110 cc) launched by HMSI.

The company will be setting up dedicated manufacturing facilities for supply under this arrangement for HMSI with an estimated project cost of Rs 80 crore, majority of which will be funded through internal accruals. The plant is expected to be operational by Q1 of FY 2013-14.

HMSI, leader in the scooter segment in India, enjoys 45% market share in the segment with its Activa, Dio and Aviator Scooters, therefore the company expects that this opportunity will generate good business and profitability in future, since KMSI is adding 1.2 mn unit capacity in Bangalore. Thus India will become the biggest market for Honda’s two wheeler business by 2015 and would account for 30% market share of its overall global market.

Lumax Tech enjoys strong position in Automotive Components sector. The company is a Tier I manufacturer of Automotive Lightings in most of the contracts, Sheet Metal Parts, Gear Shifters, Moulded Parts, Seat Frames, Leveler Device, Air Intake System & Intake Ducts primarily for 2-wheeler, 3-wheeler and 4-wheeler applications.