Auto component maker Sandhar Technologies today said it has inked a joint venture pact with South Korea's Daeshin Machinery to manufacture and market products in India and abroad.
The partners, with 50:50 stake in JV firm, have agreed to manufacture and sell products such as gear shifters, automatic shifters, manual shifters, parking brake levers, e-shifters and among others, Sandhar Technologies said in a statement.
Currently, Daeshin manufactures these products in Korea to supply to OEMs in India and aboard.
In the first phase, the Korean firm will send products or sub-parts to the joint-venture to facilitate the joint- venture's production and supply to OEMs.
In the second stage, the joint-venture will localise the parts which are agreed by both parties and produce and supply to OEMs in the country.
"By expanding our product portfolio, the joint venture will enable us to support a bigger market," Sandhar Technologies Co-Chairman & Managing Director Jayant Davar said.
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