Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 17 April 2017, 10:00 HKT/SGT
Share:
    

Source: Denso
Suzuki, Toshiba and Denso Reached Basic Agreement to Establish Joint Venture Company for Production of Automotive Lithium-Ion Battery Packs in India

TOKYO, Apr 17, 2017 - (JCN Newswire) - Suzuki Motor Corporation, Toshiba Corporation and Denso Corporation have reached basic agreement on establishing a joint venture company for production of automotive lithium-ion battery packs in India, and signed the agreement.

In India, higher attention is being paid to environment, and new CO2 standards for automobiles is planned to be introduced. In the Indian automotive market where compact cars are the mainstream models, introduction of sustainable technology suitable for such affordable cars is required. The battery pack manufacturing joint venture by the three companies will realize stable supply of lithium-ion battery packs in India in the course of promoting sustainable cars in the country and will contribute to "Make in India" initiative by the Indian Government.

The joint venture company will be established within 2017 and shall move to manufacturing phase at earliest possible timing. The initial capital expenditure will be 20 billion Japanese yen. The joint venture company will be capitalized at 2 billion Japanese yen, with the planned participation ratio of SUZUKI 50%, TOSHIBA 40% and DENSO 10% respectively.

Establishment of the joint venture company will be further examined in details by the three companies, and subject to approval by respective authorities in accordance with applicable competition laws.


About Denso

DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global automotive supplier of advanced technology, systems and components in the areas of thermal, powertrain control, electronics and information and safety. Its customers include all the world's major carmakers. Worldwide, the company has more than 200 subsidiaries and affiliates in 38 countries and regions and employs nearly 140,000 people. Consolidated global sales for the fiscal year ending March 31, 2014, totaled US$39.8 billion. Last fiscal year, DENSO spent 9 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.globaldenso.com, or visit our media website at www.densomediacenter.com.

Contact:
Sadayoshi Yokoyama, Toshiko Watanabe 
DENSO CORPORATION 
Phone: 81-566-25-5594 
Fax: 81-566-25-4509 
sadayoshi_yokoyama@denso.co.jp 
toshiko_watanabe@denso.co.jp



Apr 17, 2017 10:00 HKT/SGT
Source: Denso

Topic: Press release summary
Sectors: Automotive
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.



Denso
Apr 18, 2018 14:51 HKT/SGT
DENSO Obtains Stake in On The Road to Accelerate Development of Technology Used in MaaS
Mar 29, 2018 17:06 HKT/SGT
DENSO to Integrate the Management of Two Subsidiaries that Manufacture Parts
Mar 29, 2018 16:50 HKT/SGT
DENSO Brings Advanced Automotive Technology R&D to Israel
Feb 22, 2018 14:22 HKT/SGT
DENSO Leads Dellfer's Initial Funding Round, Supporting Cybersecurity for Connected Vehicles
Feb 21, 2018 19:37 HKT/SGT
Denso: European Commission's Announcement Concerning the EU Competition Law related to Certain Automotive Components
Feb 14, 2018 12:06 HKT/SGT
DENSO Takes a Stake in CREATIONLINE to Strengthen Connectivity Business
Feb 12, 2018 07:22 HKT/SGT
DENSO Taps Technical Expert Takuya Oikawa to Enhance Information and Communications Technology Business
Feb 6, 2018 10:13 HKT/SGT
DENSO to Exhibit in India at 14th Auto Expo 2018 - Components
Feb 2, 2018 16:20 HKT/SGT
DENSO Announces Third-quarter Financial Results
Feb 1, 2018 11:35 HKT/SGT
DENSO to Strengthen R&D Capabilities and Collaboration with New Tokyo Facility
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: