ASK Automotive, one of India’s largest brake shoe and advanced braking systems manufacturers for two-wheelers has announced its plans to enter the high-pressure die-casted two-wheeler (2W) alloy wheels (licensed products) in the country.
It has entered into a strategic partnership with LIOHO Machine Works, Taiwan for technical assistance to develop a new product line to cater to both its existing and new customers. The agreement will span over 7 years.
The company aims to design, develop, and manufacture high-quality alloy wheels to add value for two-wheelers that will ensure safety, align with world-class standards, and deliver better performance to its partners. The production of alloy wheels is targeted to begin in Q4 FY2025 and will be sold directly to the OEMs.
Kuldip Singh Rathee, Chairman and MD, ASK Automotive said “With over three decades of experience in the Indian automotive industry, we have a deep understanding of the market and the needs of OEMs. Today, alloy wheels have become a critical component across all segments, especially in two-wheelers, ranging from premium-level to entry-segment. Our legacy and expertise in aluminium light weighting precision solutions will support the development of high pressure die casted two-wheeler (2W) alloy wheels, opening up new opportunities with our existing and new customers.”
“Our partnership with LIOHO Machine Work will facilitate us with critical technical assistance, helping us meet the required standards. We are confident in setting new benchmarks in the alloy wheel segment,” he added.
For Q3 FY2024, ASK Automotive reported revenue of Rs 763 crore, up 19.4 percent YoY and net profit of Rs 49 crore as against Rs 29 crore a year ago.
