Minda Industries Ltd, the flagship company of UNO MINDA Group has joined hands with Tung Thih Electronic Co. Ltd to form a 50:50 joint venture in India .
In a statement, the company said the 50:50 joint venture (JV) will produce different products, including rear parking aid systems, auto parking aid systems, cameras and around view monitor systems.
The JV will set a plant in the National Capital Region that will have a paint shop and assembly line, it said without disclosing investments.
Tung Thih Electronic Co Ltd (TTE) is a leading Taiwanese player in manufacturing of driving assistance products and systems. It is already an approved supplier to Maruti Suzuki.
The joint venture is expected to help both the partners to make a deeper foray into the fast growing and dynamic Indian automotive electronic space with specific focus on passenger and pedestrian safety.
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