Japanese car audio and entertainment system maker Pioneer Wednesday said it is exploring the possibility to set up manufacturing facility in India to tap the fast growing automobile market here.
The company is looking to supply its audio systems directly to vehicle manufacturers as factory fitments, a top company official said.
Besides, the company, which presently has around 40 per cent market share in the after sales car audio segment, is looking to have 50 per cent market share in the next one year.
OEM business and requirements from customer side have stress on starting local production, Pioneer India Managing Director Toshiyuki Yoshikawa told PTI, adding that "to meet that expectations, we might go for it".
He however added: "We have not decided yet... we are studying the market."
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