Mumbai, Feb. 6
TATA AutoComp Systems Ltd (TACO) today announced a 50:50 joint venture with GS Yuasa International Ltd, Asia's largest automotive battery manufacturer.
The new venture called Tata AutoComp GY Batteries Pvt Ltd with manufacturing facility near Pune, will make hi-tech automotive batteries for OEMs and the retail market in India. "The company will start operations with the entire range of four-wheeler automotive batteries and will also set up a national level sales, service and distribution network," an official statement said.
When contacted a senior company official said that the total investment planned for the project was Rs 90 crore; Rs 42.5 crore being the equity component to be split evenly between the two partners. "The remaining amount would be met through debt," he said.