April 3: As revealed by Autocar Professional in its March 1 issue, automotive components supplier the Anand Group has signed a new joint venture agreement with the Valeo Group to set up a company specially dedicated to the aftermarket: Valeo Service India Auto Parts.
Located in Chennai, Valeo Service India Auto Parts will distribute automotive products produced by the manufacturing companies of the two groups in the independent aftermarket across India, under the Valeo brand name.
This new JV will market the largest range of automotive components in India, deploying international best practices in marketing and aiming to create a world class supply chain process and logistics infrastructure.
Valeo and Anand already have an existing JV -- Valeo Friction Materials India-- for manufacturing and marketing friction material for clutch systems in cars, CVs and tractors.
With this new JV, the Anand Group has further expanded its presence in the Indian aftermarket. Some of its major brands are already market leaders, with a direct network of 800 distributors and over 20,000 retail outlets and garages. For Valeo, the new JV will help it target the fast-growing automotive independent aftermarket business in India.