Auto components maker Spark Minda, Ashok Minda Group, today formed a joint venture with US-based Vehicle Access Systems Technology (VAST). The JV has been formed with an aim to widen global presence.
The 50:50 joint venture is between Minda Management services, an affiliate of Minda Corporation and Spark Minda, Ashok Minda Group -- and the VAST Group. The JV will act as a catalyst for the future growth of Spark Minda, Ashok Minda Group.
The new entity, Minda VAST Access Systems (Minda VAST), will have operations in Pune and Delhi-NCR. In the JV, VAST will offer support for locksets, steering column locks, latches, strikers, socket bows, handles, immobilises, passive entry, start systems, ignition switches, hinges and power access, among others.
VAST has manufacturing facilities in Germany, Mexico, Czech Republic, US, China and Brazil.