To manufacture and supply oxygen sensors
Lumax Auto Technologies has signed a joint venture agreement with Francisco Albero S.A.U, Spain to manufacture and supply oxygen sensors to the Indian automotive industry. Lumax Auto Technologies will own the 51% of the joint venture company, 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 & affordable Oxygen Sensors (O2) for the India market, with further scope for expanding the product line.
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