Nayoga: Japanese automobile member retailer JTEKT is formulation to open a new production trickery in India in sequence to accommodate a flourishing direct of steering systems from Suzuki, a tip executive said.
However, a association hasn’t motionless on a quantum of investment nonetheless that will be used to build a new plant.
“By finish of this year, we will be pity a sum of a new plant in India that will be non-stop to support a direct from Suzuki,” pronounced Tetsuo Agata, President, JTEKT Corporation.
On a condition of anonymity, one of a JTEKT employees informed, “The new plant will open nearby Suzuki trickery in Gujarat. We already have land there.”
The association is also formulation to raise existent RD trickery in India. Also, it skeleton to sinecure around 100 engineers to accommodate a destiny mandate like electric energy steering systems and ADAS.
So, this is a reason we are putting some-more investments and resources to raise a Indian operations”
In Jun 2017, JTEKT Corporation bought a Indian partner Sona Group’s 25.23% interest in Sona Koyo Steering Systems for about Rs 510 crore.
After a acquisition, JTEKT owns 70.45% shares carrying voting rights.
“Last year, we acquired Sona Koyo steering systems (SKSS) in sequence to strengthen a Indian business. Earlier, we used to have usually dual plants in India. Now we have tighten to 9 production site in India. The other reason was to dig Indian automobile manufacturers like Tata Motors and Mahindra Mahindra. We have to take a advantage of a Sona’s network.” pronounced Agata
With 33 per cent marketplace in electric energy steering, a association is also formulation to build a region-integrated government system, in sequence to raise patron compensation and raise sales in a Indian market.
For a mercantile year finished in Mar 2018, a net income increasing by 3.56% to Rs. 1254.52 Cr as compared to Rs.1211.44 Cr in a mercantile year 2017. While a Profit after taxation increasing by 32.89% to Rs.46.69 Cr opposite distinction of Rs.35.13 Cr of a analogous year.