Tata AutoComp Systems Limited has announced plans to form a joint venture with Japan's Ichikoh Industries Limited to acquire Valeo's lighting business in India. The partnership will establish a 50:50 joint venture company to purchase the Valeo Lighting Systems business from Valeo India Private Limited.
The joint venture will focus on serving the automotive lighting market in India. The companies are currently finalizing definitive agreements for both the joint venture formation and the business acquisition, which remains subject to necessary statutory and regulatory approvals.
Ichikoh Industries, listed on the Tokyo Stock Exchange Prime Market, is majority-owned by Valeo at 61.2 percent. The Japanese automotive lighting supplier reported sales of 124 billion yen in fiscal year 2024 and has operated for more than 120 years.
Tata AutoComp Systems, established in 1995 as part of India's Tata Group conglomerate, manufactures automotive components and systems for global original equipment manufacturers. The company serves various vehicle segments including passenger cars, commercial vehicles, electric mobility, two-wheelers, three-wheelers, tractors, and off-road vehicles.
The Indian automotive components manufacturer operates 68 manufacturing facilities worldwide with a workforce exceeding 20,000 employees. It currently runs 20 business units, including ten joint ventures with international auto-component manufacturers.
This acquisition represents Tata AutoComp's continued expansion in the automotive components sector and Ichikoh's entry into the Indian market through local partnership. The transaction's completion timeline depends on regulatory approval processes and final agreement execution.