Lumax DK Jain Group companies, Lumax Auto Technologies and Lumax Industries, announced two and one partnerships respectively as part of their attempts to bring futuristic technology to the Indian automotive market
Lumax Auto Technologies has announced a joint venture (JV) with Yokowo Co. Ltd., Japan, to manufacture and supply on-board antennas and other vehicle communication products to the Indian automotive industry. Under the JV, both the partners will have a 50:50 share in the new entity to be named Lumax Yokowo Technologies (P) Ltd. Yokowo is a leading specialist in electronics components and advanced devices for wireless communication and information transmission. The Japanese firm will bring its world-class technology to the JV and Lumax Auto Technologies 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 the JV is towards self-reliance in technology and establishment of state-of-the-art manufacturing operations in India. The manufacturing of the vehicle communication devices will commence from 2021.
Speaking on the occasion, Deepak Jain, Promoter Director, Lumax Auto Technologies, said: “The Indian automobile industry is undergoing a technology change and this is the most opportune time to introduce best-in-class technology for connected vehicles and communication. This is an important step taken by Lumax Auto Technologies to serve the OEM needs in vehicle communication space. We are delighted to partner with a global leader like Yokowo.”
This will be India’s first localised product solution. The initial offering to the Indian market would be car antenna,” he added.
Takayuki Tokuma, President, Yokowo, stated: “I am pleased to announce this JV with Lumax Auto Technologies, our only one in India. With this partnership, we would like to reach a wider market and cater to the demands of an emerging market like India with high growth potential, and contribute to the development of its automobile market.”
Anmol Jain, Managing Director, Lumax Auto Technologies, shared: “This partnership is a strategic initiative taken in the interests of Indian customers providing them with the best design and quality at competitive costs in vehicle communication products.”
The new company will first expand on-board antenna products in India that have already been manufactured and sold in other countries, and then implement or consider the development of advanced driver assistance systems (ADAS), self-driving systems and V2V and V2X products based on market needs and customer requests. In addition to the above partnership, Lumax Auto Technologies has also signed a MoU with New Ananda Drive Techniques Co. Ltd., China, for manufacturing and sale of various powertrain products for electric vehicles, including automotive motors and controllers for a wide range of electric vehicles.
Ananda Drive Techniques is a leading EV motor and controller manufacturer catering to electric two- and three-wheeler vehicles. In 2019, they produced more than 3 million motor controllers for Chinese, European and US markets. The group’s other company, Lumax Industries, announced the extension of its existing JV with Stanley Electric Co. Ltd., Japan, to bring in electronic parts and components with the complete range of Stanley Electric products – current and future – to the Indian automotive industry. Starting with the production of PCBs, which is the core component of automotive lighting systems, the JV will extend its product line to heating ventilation air-conditioning panel (HVAC) in the near future. The product will be localised and manufactured at the newly set up electronic facility of the company at Bawal, Haryana.