Lumax DK Jain Group announced that it has entered into a joint venture (JV) with Francisco Albero S.A.U., (FAE) Spain, to manufacture and supply oxygen sensors to the Indian automotive industry.
Lumax Auto Technologies will own 51% stake in the JV, while Lumax FAE Technologies Pvt. Ltd, with FAE owning the remaining 49% .
The JV company will make an initial investment of Rs 14 crore for an installed capacity of 2 million oxygen sensors, and the production is expected to commence from early 2019.
With this move, Lumax FAE Technologies Pvt. Ltd. will be a key supplier for technologically advanced, innovative and affordable oxygen sensors for the India market, with further scope for expanding the product line.
The new entity, Lumax FAE Technologies Pvt. Ltd., will invest both in development and localisation of manufacturing capability to become the pioneer supplier of this product in India.
The oxygen sensor monitors the gases emitted by the vehicle's engine, thereby maintaining the appropriate air-fuel mixture to facilitate efficient functioning of the engine in accordance with the emission regulatory norms. The product can significantly enhance the fuel efficiency of a vehicle and plays a critical role in aligning with the BS-VI emission norms..
Lumax Auto Technologies will own 51% stake in the JV, while Lumax FAE Technologies Pvt. Ltd, with FAE owning the remaining 49% .
The JV company will make an initial investment of Rs 14 crore for an installed capacity of 2 million oxygen sensors, and the production is expected to commence from early 2019.
With this move, Lumax FAE Technologies Pvt. Ltd. will be a key supplier for technologically advanced, innovative and affordable oxygen sensors for the India market, with further scope for expanding the product line.
The new entity, Lumax FAE Technologies Pvt. Ltd., will invest both in development and localisation of manufacturing capability to become the pioneer supplier of this product in India.
The oxygen sensor monitors the gases emitted by the vehicle's engine, thereby maintaining the appropriate air-fuel mixture to facilitate efficient functioning of the engine in accordance with the emission regulatory norms. The product can significantly enhance the fuel efficiency of a vehicle and plays a critical role in aligning with the BS-VI emission norms..
No comments:
Post a Comment