Ask Automotive to set up JV with Aisin to sell aftermarket parts | Autocar Professional

The Board of directors of Ask Automotive has today their approval for entering into a joint venture with Aisin Asia (Thailand) Company and Aisin Automotive Haryana for marketing and selling of independent aftermarket parts for passenger cars, through a joint venture company, which will be incorporated after execution of a JV agreement.

Ask Automotive will own 51% of the shareholding in the joint venture company and will infuse funds up to Rs 10,71,00,000, in one or more traches. The proposed JV company will be the subsidiary of the company. The remaining 49% will be owned by the AISIN Group of Companies.

ASK Automotive is the largest manufacturer of brake shoes and advanced braking systems for two-wheelers in India with an around 50% market share in OEMs. The company offers powertrain-agnostic products in both automotive and non-automotive segments with a focus on EV and exports. The company has diversified its operations and offers products under advanced braking systems, aluminium light weighting precision solutions, and safety control cables business segments, with three technical collaborations and one joint venture with a leading global player.

Ask Automotive has strategically located manufacturing facilities located in close proximity to the customers in India and is backed by strong in-house R&D, and an engineering and design centre.