Fiem Industries forms JV with Japanese firms for automotive switches

Fiem Industries Ltd, the manufacturer of auto components, has signed a memorandum of understanding with two Japanese companies - Toyodenso Co Ltd and Toyota Tsusho Corp - for a joint venture to manufacture automotive switch assemblies in India.

Switch maker Toyodenso, which has presence in Japan, US, Europe, China, Thailand, Indonesia, Vietnam, Taiwan, etc, serves leading automotive companies such as Honda, Toyota, Isuzu, Yamaha, and others. On the other hand, Toyota Tsusho is a group company of Toyota Group having presence in diverse range of businesses around the world. 

"The company considers this proposal as a major breakthrough for diversification of its new product line with in automotive segment," said Fiem Industries.