Domestic component major Lumax Auto Technologies today announced that it will set up a new joint venture with JOPP of Germany for manufacturing shift towers and integrated sensor systems for the domestic auto industry.
Under the JV, both partners will hold an equal 50 percent share in the new entity to be named 'Lumax JOPP Allied Technologies'. While JOPP will bring the world-class technology for its products to the JV, Lumax will provide its experience towards management of the JV in India. The new entity will focus on self-reliance in technology and also establish a state-of-the-art R&D centre in India along with manufacturing operations.
The agreement was signed by Martin Buchs, managing director and promoter, JOPP; Richard Diem, MD, Jopp; Anmol Jain, MD, Lumax Auto and Deepak Jain, promoter director, Lumax Auto. The venture will engage in designing, development and production of gear shift towers, automated manual transmission (AMT) kits, all gear sensor (AGS) and forks to start with.
Commercial production is expected to begin in Q4 FY2020 from an existing Lumax facility in Manesar, Haryana, and the partners will invest over Rs 75 crore over a period of 5 years.
JOPP is a European company with expertise in transmission and shift systems parts serving OEMs worldwide. The gear shift systems will be a major focus area with high in-house value addition for shift towers, integrated all gear sensor technology and AMT kits for various applications for manual and automated transmissions.
Commenting on the JV, Deepak Jain, promoter director, said: ”We continue to forge partnerships with global leaders. In JOPP, we have found a reliable partner, sharing the same values, ethos and a strong legacy.”
With the JV, Lumax will get the full access to JOPP product know-how in manual, automated and dual-clutch transmissions. The domestic component maker along with its other JV companies and the new JV with JOPP will now offer complete transmission shifting solutions to its customers in the Indian market including sophisticated, lightweight and smart-shifting solutions for the mid-segment vehicles in the Indian market.
Martin Blichs, MD, JOPP said, ”We believe that this joint venture will allow us to provide a wider array of services with world-class technology and depth to a large growing market. We conducted an extensive search to find a strong, dynamic, technologically strong partner with a pan India footprint and customer connect. Lumax was the perfect fit.”
Anmol Jain, MD, Lumax Auto Technologies, said: "Shift function is the most important part of transmission. The JV focuses on manual and automated shift tower kits. Being a market leader in shift levers in India, it was a natural progression for Lumax to become a shift system supplier. This brings immense technical edge to Lumax as the single supplier responsible for 'shift feeling."
The signing ceremony was conducted in the presence of the Indian automotive manufacturers, which reflects their support and commitment towards this decision.