The JV will target India’s four-wheeler passenger vehicles with the Indian partner having a 51 percent equity stake
10 Jan 2023 | 1838 Views | By Autocar Pro News Desk
UNO Minda, the Tier-1 supplier of proprietary automotive solutions and systems to OEMs, has announced that its board has approved a joint venture agreement with TACHI-S Company, a global seat system creator headquartered in Tokyo, Japan, for manufacturing and marketing of seat recliners for four-wheeler passenger vehicles in India.
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UNO Minda, the Tier-1 supplier of proprietary automotive solutions and systems to OEMs, has announced that its board has approved a joint venture agreement with TACHI-S Company, a global seat system creator headquartered in Tokyo, Japan, for manufacturing and marketing of seat recliners for four-wheeler passenger vehicles in India.
As per the agreement, the JV will offer various products including recliners in the first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly. UNO Minda will have a 51 percent stake in the JV with the remaining stake to be held by the Japanese compamy.
Established in 1954, TACHI-S is an integrated automobile seat manufacturer (from development to production). It has a manufacturing footprint of 70 facilities in 13 countries and provide products and services to leading OEMs around the world. Its consolidated revenue for FY 2022 was 206 Billion Yen.
The JV is expected to enable UNO Minda expand its seating systems product offering in four0-wheeler passenger vehicles as well. In the first phase, the Board has also approved investment up to Rs 10 crore for recliner products which have qualified for business from Indian OEMs.
Nirmal K Minda, CMD, UNO Minda Group said, “This partnership with TACHI-S will expand our seating portfolio to bring the latest seating technologies.”
Yuichiro Yamamoto, CEO of TACHI-S said, “ With the combination of TACHI-S seating expertise and UNO Minda’s manufacturing capabilities, we can create a true leader in the rapidly growing Indian automotive seating market.”