India’s NK MINDA Group, an automotive supplier of proprietary solutions to OEMs, and Italy’s EMER spa, a global player in the Alternate Fuel Vehicles (AFV) sector, have formed an equity joint venture (JV) to design, produce and sell alternate fuel systems and components for India and multiple global customers. “With the complementary skills and experience brought to the new venture by its founding parents, we look forward to the successful launch of a major new initiative in the alternate fuels industry”, said Sergio Ravagli, EMER’s President of the Board.
A Minda Group press release said the new company, which will be jointly controlled, will be headquartered in New Delhi, India and will exploit the global design, production and distribution strengths of parent companies to deliver gas fuel systems to the global market. EMER will support the new venture through supply of technology, design and testing; MINDA will provide production competencies and market development services.
Minda-EMER kits will be manufactured at Manesar and an investment of Rs.40 crore (almost USD 9 million) over the next three years is envisaged in the JV. The first Minda – EMER kits will be available in India in March 2010. The production facility will have an installed capacity of 500,000 parts including 120,000 systems / kits annually by 2012. By 2012, the company will achieve 80% localization.
The JV, besides producing and supplying kits to the OEM’s, will also manufacture kits for the retail market for retrofitting. The Minda-Emer kits will incorporate the latest technological advancements available globally to provide solutions for LPG, CNG and HCNG systems.
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