ASK-AISIN Strategic Automotive JV

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ASK Automotive Limited, a leading force in India’s automotive sector and the largest manufacturer of brake shoes and advanced braking systems for two-wheelers, announced a significant joint venture with AISIN Group Companies, enhancing their reach in both domestic and international markets for passenger car products. This collaboration, which includes AISIN Asia (Thailand) Co. Ltd. and AISIN Automotive Haryana Private Limited, aims to broaden their footprint in the Independent Aftermarket across India, Nepal, Sri Lanka, and Bangladesh.

Key Highlights

• Expansion of market reach: The strategic alliance is set to enhance market penetration across multiple South Asian countries, targeting the independent aftermarket.
• Combining strengths: Utilizing ASK Automotive’s robust distribution network and AISIN’s product excellence to improve access to quality automotive components.
• Diverse portfolio: The venture will leverage both ASK and AISIN brands to meet evolving market demands with a wide range of innovative products.

“As we embark on this journey with AISIN Group Companies, we are driven by our vision to deliver high-quality and innovative products meeting global standards in all automotive segments,” said Mr. Kuldip Singh Rathee, Chairman and Managing Director of ASK Automotive Limited. He emphasized the venture’s capacity to integrate expertise and resources beneficially for the passenger car segment in both domestic and international markets.

Mr. Aman Rathee, Executive Director at ASK Automotive, commented on the potential of the joint venture, stating, “Our strategic joint venture with AISIN Group Companies will expand our aftermarket business significantly in India. I foresee great success for this joint venture, capitalizing on the synergies created by ASK and AISIN Group in the Independent Aftermarket ecosystem.”

Mr. Yasuhiro Nakamura, President of Aisin Asia (Thailand), shared his perspective: “We envision our joint venture with our esteemed partner ASK Automotive Limited not just as a collaboration, but as a convergence of expertise, culture, and innovation. Together, we journey toward success, shaping the future of the Indian Automotive Aftermarket sector to contribute to a safe and secure car life in India.”

The joint venture is pending customary regulatory approvals and is expected to finalize in the upcoming months.

About ASK Automotive Limited: With approximately 50% market share among OEMs in its sector, ASK Automotive has made significant strides over three decades in supplying critical safety systems and complex precision solutions across automotive and non-automotive segments, focusing notably on EVs and exports.

About AISIN Group Companies: Established in 1965, AISIN Group, a top-tier global auto components supplier, has been integral in advancing fundamental vehicle functions and embracing electrification and intelligent technologies in response to the automotive industry’s evolving needs.