Remsons Industries Ltd enters into 50:50 JV with Daiichi for automotive electronics

Remsons Industries Ltd., a pioneer in Cables & Shifters for Automotive Industry has announced the establishment of a groundbreaking 50:50 Joint Venture poised to redefine the landscape of automotive electronics. This strategic collaboration brings together the expertise and resources of two industry-leading entities, DAIICHI and REMSONS, to pioneer innovative solutions that will drive the future of mobility.

As automotive technology continues to evolve at an unprecedented pace, our joint venture stands at the forefront of this revolution, committed to delivering cutting-edge electronic systems and components that will shape the vehicles of tomorrow. Leveraging the combined strengths of Daiichi's proven track record in design and manufacturing and Remsons deep automotive industry experience and market presence, we are poised to create synergies that will propel us to new heights of success.

Daiichi is part of "Dogan Group, one of the largest conglomerates in Turkey with a Revenue of USD 2 Billion and 4000+ employees".

Daiichi, headquartered in Istanbul, Turkey, with over 3.50 Lakh Sq. Ft for Manufacturing, operates with a strong team of 1500+ employees at technical centres, manufacturing sites and customer support services globally. They are OEM to Stellantis Group, Hyundai, Ford, Daimler, IVECO, Navistar, VW, Mahindra, ISUZU.

Our joint venture will focus on developing advanced electronics solutions tailored to meet the demands of next-generation vehicles, including infotainment systems, Digital Clusters, rear view cameras, USB chargers, Shark Fin Antennas, AVAS system, DMS,. Through a collaborative approach that prioritizes innovation, reliability, and sustainability, we aim to empower automakers with the tools they need to drive progress and enhance the driving experience for Indian Markets.

India's automotive electronics market is likely to cross $18 billion by 2027 from $ 6 billion in 2020 with a CAGR of 17%.

This is another significant milestone in our ongoing commitment to delivering excellence and innovation through our enduring partnership.

Shares of Remsons Industries Limited was last trading in BSE at Rs. 897.60 as compared to the previous close of Rs. 880.00. The total number of shares traded during the day was 651 in over 30 trades.

The stock hit an intraday high of Rs. 897.60 and intraday low of 891.00. The net turnover during the day was Rs. 584038.00.

Source : Equity Bulls

Keywords

RemsonsIndustries INE474C01015 JV AutomotiveElectronics Daiichi