Our Bureau

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.

(This article was published in the Business Line print edition dated February 7, 2006)
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