Uno Minda forms JV with Japan's TACHI-S to expand automotive seating system offering for PVs | The Financial Express

Uno Minda forms JV with Japan’s TACHI-S to expand automotive seating system offering for PVs

Uno Minda has announced entering into a Joint Venture agreement with TACHI-S Company Limited (“TACHI-S”) for the manufacturing and marketing of seat recliners for four-wheeler passenger vehicles in India.

Uno Minda forms JV with Japan’s TACHI-S to expand automotive seating system offering for PVs
The Joint Venture will offer various products including recliners in the first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly.

Auto component major, Uno Minda has announced that its Board has approved entering into a Joint Venture agreement with TACHI-S Company Limited (“TACHI-S”), a global seat system creator headquartered in Tokyo, Japan, for manufacturing and marketing of seat recliners for a four-wheeler passenger vehicle in India. 

The Joint Venture will offer various products including recliners in the first phase with the intention of expanding into other seating mechanisms, seat frames and complete seating assembly. Uno Minda will hold a 51% stake in the Joint Venture while the remaining stake will be held by TACHI-S.

Established in 1954, TACHI-S is an integrated automobile seat manufacturer (from development to production). They have 70 facilities in 13 countries and provide products and services to leading OEMs around the world. Their consolidated revenue for the Fiscal year 2022 was 206 Billion Yen.

The joint venture will help expand Uno Minda’s seating systems product offering in 4W Passenger vehicles as well. In the first phase, the Board has also approved investment up to Rs 10 Crores for a recliner product which has qualified for business from Indian OEMs. 

Nirmal K Minda, CMD, Uno Minda Group says, “This partnership with TACHI-S will expand our seating portfolio to now bring the latest seating technologies for 4 Wheeler Passenger vehicles in India. The partnership will enable the joint venture to successfully establish a leading position in the automotive seating system for the passenger vehicle segment as well.”

Yuichiro Yamamoto, CEO of TACHI-S comments, “The combination of TACHI-S seating expertise and Uno Minda’s manufacturing capabilities, we can create a true leader in the rapidly growing Indian automotive seating market.”

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.