Fujitsu Ten to set up JVs with UNO Minda for car infotainment products

May 15, 2012: Japanese automobile component manufacturer Fujitsu Ten Ltd and the Manesar-based auto components manufacturer UNO Minda, NK Minda Group are to establish two new manufacturing and sales joint venture companies in India for car infotainment products. The JV agreement was signed today in Bangalore. While Futjisu Ten will hold the majority 51 percent stake in both companies, UNO Minda will hold the balance 49 percent. The deal is billed as the first ever joint venture for integrated design, development and manufacturing of car infotainment products in India.

The manufacturing facility will come up at Bawal, Haryana and will produce products such as CD tuners, display audio AVNs and speakers. Production is slated to start in October 2013.

Speaking at the signing of the JV, Mr Shigematsu, president of Fujitsu Ten, said: “We are confident that this partnership can leverage the fundamental strengths of both partner companies. With UNO Minda providing a strong business base to Fujitsu Ten’s innovative and technically superior products, we aim to bring the best of technologies to Indian market. We will meet the expectations of Indian customers continuously through this JV.”

Nirmal K Minda, chairman and managing director of the NK Minda Group, said: “UNO Minda, NK Minda Group has maintained a tradition of bringing the latest automotive technologies to India. We are delighted to partner with Fujitsu Ten and are confident that this JV will create a very strong local production base to offer market-leading, technology intensive audio infotainment systems to Indian OEMs. This JV will bring local design, product development and complete manufacturing for the very first time in India for such products.” The Indian automotive industry, despite the recent downturn, is one of the largest in the world and one of the fastest growing globally. Given that the number of new car sales exceeded 2.5 million in 2011, this new partnership is an attempt to tap into the fast-growing segment of car infotainment products. On May 11, German car multimedia player Blaupunkt had announced its re-entry into the Indian market through a JV with Indian partner Auto Sonics India.