Valeo and India-based Anand Group have started a joint venture in India, for the production of lighting systems. The venture will be located in India at Chennai.
The French supplier will hold the majority stake in the venture, Valeo Lighting Systems India Private Limited. Both the companies will produce lighting systems including projectors, lights and rear fog lamps for the Indian automotive market. Setting up a new venture in India is an effort to expand Valeo’s presence in the Indian market.
Increasingly, global suppliers and OEMs are recognising the importance of the growing Indian market. Recently, suppliers such as IAC, Federal-Mogul, Bosch and Continental have also expanded their operations in India.