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Our Bureau

Pune , June 30

AUTOMOTIVE supplier Visteon Corporation will invest $12.5 million in two 50:50 joint ventures that it has set up with Tata Automotive Components (TACO) in the fields of automotive products and engineering in Pune.

TACO Visteon Automotive Products (TVAP) will be a stand-alone entity that will manufacture engine induction systems and lighting systems with focus on all Indian OEMs in the automotive industry. Visteon TACO Engineering (VTEC), the other joint venture, will initially provide Computer Aided Design (CAD), Computer Aided Engineering (CAE) and other services for Visteon's global operations.

Visteon Corporation said the initial $12.5 million investment will be followed by significant further investments in the future.

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