- According to the auto parts manufacturer, the proposed joint venture has six directors on its board of directors.
- Each party has the right to appoint three directors. JVC’s chairman and managing director will be appointed from among the directors nominated by LATL.
According to a report from The Economic Times, Lumax Auto Technologies Ltd (LATL) has signed a joint venture agreement with Alpine Co Ltd (ALPS) in Japan. They have joined hands to set up a 50:50 stake in India to manufacture and sell electrical equipment and components, including software related to the automotive industry, the company told regulators. Said in the submitted documents.
Six directors of the proposed joint venture board
The report added that the proposed joint venture’s board of directors has six directors, according to auto parts makers. Each party has the right to appoint three directors. JVC’s chairman and managing director will be appointed from among the directors nominated by LATL.
In May, the Lumax Group reported that it would set up an electronics plant in Bawal, Hariyana, and invest 250 rupees in this year’s capital investment to increase the capacity of its Sanand plant in Gujarat. Lumax-DK Jain Group manufactures and supplies auto parts at 33 plants. We serve all major OEMs, from two-wheeled vehicles to four-wheeled vehicles, commercial vehicles and farm equipment.We also supply defense facilities and emergency services.
https://www.electronicsb2b.com/industry-buzz/lumax-auto-teams-up-with-alpine-co-to-set-up-jv-for-electric-parts-report/ Lumax Auto is Alpine Co.Established JV for electrical components in partnership with: Report