Minda Group forms JV with Taiwan's Tung Thih Electronic for auto parts

The Gurgaon-based auto component maker Minda Industries Ltd, the flagshiip company of UNO Minda Group, has signed a joint venture agreement with Taiwan's Tung Thih Electronic Co Ltd (TTE) to develop, manufacture, market and sale of driving assistance products & systems (DAPS) and safety systems including reverse parking assistance system (RPAS), camera, automatic parking systems, tyre pressure monitoring systems (TPMS). The proposed location of the manufacturing plant will be in NCR region.

The JV will provide these auto parts to Indian automotive OEMs. TTE is already an approved supplier to Maruti Suzuki. Future plans include venturing into niche technology products like