Pune: JRG Automotive Industries on Monday said it has formed a strategic joint venture with Japan-based Takagi Seiko Corporation to manufacture parts for two-wheelers and four-wheelers for the domestic market at an investment of Rs 125 crore.
Based at Sampla in Haryana, the JV will focus on producing automotive components, including parts for two-wheelers and four-wheelers, leveraging Takagi Seiko's advanced technologies to enhance component quality for Indian original equipment manufacturers (OEMs), the company said.
The JV is expected to create around 500 direct and indirect jobs, it noted, adding that the JV has already secured business commitments from reputed OEMs.
This partnership combines JRG Automotive's strong market presence and experience in India with Takagi Seiko's technological expertise and global reputation in the automotive industry, the company said.
The joint venture has already utilized 50 per cent of the Rs 125 crore investment, JRG Automotive said.
"By leveraging Takagi Seiko's cutting-edge technologies, we aim to elevate the Indian automotive industry and further strengthen our partnerships with key OEMs. This collaboration will enable us to deliver exceptional quality products that meet the rising demand for premium components, while also contributing to the local economy through job creation," said Pawan Goyal, MD at JRG Industries.
It will also support the growing demand among Indian consumers for premium-quality components, even in small cars, it said.