Takata Corporation, the manufacturer and distributor of safety systems for automobiles has signed a contract with Anand Automotive Systems to manufacture airbags, seatbelts, and steering wheels for the OEMs in India. The major share of this joint venture company named as Takata India Pvt. Ltd. will be credited to Takata Corporation.
Takata India is a wholly-owned subsidiary of Takata Corporation which started its operation after receiving approval from Foreign Investment Promotion Board (FIPB) in 2007. The company is also building its plant in Chennai, which will soon be followed by another plant in Neemrana, near Delhi. Both the units will be involved in the production of seatbelts, airbags, and steering wheels.
Anand Automotive Systems is the manufacturer of several auto components and systems including shock absorbers, filter systems, engine components, drivetrain products, exhaust systems, climate control & engine cooling systems, brakes, friction materials, and adhesives. Currently, the company owns 42 production facilities with a strong customer base across the country. This joint venture will further strengthen the position of the Takata India in the Indian auto industry.