Tata AutoComp Systems, one of India’s leading auto-component manufacturers, is set to enter a joint venture with Japan’s Ichikoh Industries to strengthen its presence in the automotive lighting market. The partnership will lead to the acquisition of Valeo Lighting Systems (VLS), currently part of Valeo India.
The acquisition will be carried out through a newly established 50:50 joint venture company (JVC) formed by Tata AutoComp and Ichikoh. Ichikoh, a Tokyo Stock Exchange-listed company and 61.2% owned by French automotive supplier Valeo, brings decades of lighting technology expertise to the collaboration.
Definitive agreements for the formation of the JVC and the acquisition of the VLS business are being finalized and remain subject to necessary statutory and regulatory approvals.
Arvind Goel, Vice Chairman of Tata AutoComp, said, “This joint venture marks another significant step in Tata AutoComp’s commitment to bringing advanced and contemporary technologies to Indian automotive OEMs.”
Manoj Kolhatkar, Managing Director and CEO of Tata AutoComp, added that the partnership will help the company strengthen its market position and serve a broader range of automotive manufacturers with innovative lighting products.
Ichikoh also expressed confidence in the alliance. Highlighting its 120-year legacy, the company noted that the collaboration with Tata AutoComp would enable it to meet India’s rising demand for technologically advanced automotive lighting solutions.
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