Pune (Maharashtra), July 31, 2020
Vitesco Technologies and Padmini VNA Mechatronics, the two leading automotive suppliers for future-oriented drives, have signed an agreement to form a joint venture company - PV Clean Mobility Technologies - for offering selected powertrain technologies for the Indian market that meet the new emission standard Bharat Stage VI. This will offer major growth opportunities for both companies as they will work hand in hand with their local customers to increase vehicle efficiency and reduce emissions.
The aim is to create an outstanding local supplier for the Indian automotive market by combining strengths and expertise in joint solutions for clean drive systems. The product range is focusing on sensors and actuators, as well as fuel delivery modules for passenger car, commercial vehicle and two-wheeler-markets. Both partners have a 50 percent share in PV Clean Mobility Technologies, which will be based in Gurugram.
Anurag Garg, Head of Vitesco Technologies India and board member of the joint venture, explained, “Our commitment to clean air is fully aligned to local legislative norms. Apart from that our ‘in the market, for the market’- strategy ensures that our powertrain technologies are affordable for local markets. We are excited to working with all leading automotive manufacturers in India as their partner of choice through this joint venture.”
According to Peter Biber, Head of Business Development & Strategy Sensing and Actuation Business Unit and board member of PV Clean Mobility Technologies, India offers strong growth opportunities driven by the need for clean, efficient and affordable propulsion technologies. He said, “With this joint venture, we are able to provide our customers with optimal support on site. In order to meet local requirements in the best possible way, for example with regard to design and development lead times, we are bundling our strengths in a lean company that can act agile and flexible.”
Kabir Bhandari, co-owner of Padmini and Padmini board member of the new company concluded, “Both companies have a long tradition of producing first-class products and the best quality standards. Together we are pursuing the mission of shaping the future of clean mobility. We see this as part of our responsibility to society and as a reliable partner for our customers.”
Padmini VNA, headquartered in Gurgaon, is one of the leading manufacturers of auto – components for the advanced automobile industry. Founded in 1991, the company offers a wide range of high efficiency components for passenger cars, commercial vehicles, two wheelers, three wheelers and tractor segment, with the target to reduce fuel consumptions while maintaining safety and performance standards at the same time. These components include eg EGR valves, throttle bodies, vacuum modulation valves, pumps, solenoid valves, electronics and fuel.
Headquartered in Regensburg (Germany), Vitesco Technologies - formerly the Continental Powertrain Division - is a leading international developer and manufacturer of state-of-the-art powertrain technologies for sustainable mobility. With smart system solutions and components for electric, hybrid and internal combustion vehicles, Vitesco Technologies makes mobility clean, efficient and affordable. The product range includes electric drives, electronic control units, sensors and actuators, and exhaust -gas aftertreatment solutions. In 2019, Vitesco Technologies, a Continental business area, recorded sales of EUR 7. 8 billion and employs almost 40,000 people at around 50 locations worldwide.