ASK Automotive Limited has unveiled a significant joint venture agreement with AISIN Group Companies, including AISIN Asia (Thailand) Co. Ltd. (“AA-T”) and AISIN Automotive Haryana Private Limited (“AHL”). The collaboration aims to introduce and distribute auto components in the independent aftermarket for passenger car products throughout India, Nepal, Sri Lanka, and Bangladesh.
Combining ASK Automotive’s expansive distribution network with AISIN Group’s high-quality product range, renowned for its excellence in original equipment (OE) auto components, this strategic alliance is expected to notably enhance the availability of premium passenger car products in the independent aftermarket, catering to the growing demand in the region.
Kuldip Singh Rathee, Chairman and Managing Director of ASK Automotive, expressed optimism about the venture, saying, “This joint venture marks a significant milestone in our strategy to diversify our portfolio and strengthen our presence in the passenger car segment for four-wheelers, both domestically and internationally. By merging our extensive market penetration with AISIN’s renowned product quality, we are poised to deliver innovative products meeting global standards across all automotive segments.”
The collaboration aims to capitalize on the synergies between both companies, enhancing their ability to serve the expansive automotive aftermarket. Aman Rathee, Executive Director of ASK Automotive, highlighted the expected success of the venture, stating, “Our strategic joint venture with AISIN Group Companies promises to significantly expand our aftermarket business in India. The synergy between ASK and AISIN will enable us to effectively meet the evolving needs of our customers in the independent aftermarket ecosystem.”
Yasuhiro Nakamura, President of Aisin Asia (Thailand), from the AISIN side, emphasized the comprehensive benefits of the partnership, stating, “Our collaboration with ASK Automotive is more than just a business agreement; it’s a convergence of expertise, culture, and innovation. We are committed to jointly shaping the future of the Indian automotive aftermarket sector and contributing to safe and secure car life in the region.”
The joint venture agreement is subject to customary regulatory approvals and is expected to be finalized in the coming months. This strategic initiative is anticipated to set a new benchmark in the automotive aftermarket, offering a diverse portfolio of high-quality, innovative products tailored to meet the specific needs of customers across South Asia.