Tata AutoComp Systems has inked a pact with Canada-based Magna International Inc to form a 50:50 joint venture (JV) to provide seating systems to the commercial vehicle industry in the country.
The JV will be focused on delivering innovative seating systems to commercial vehicle manufacturers as well as buses, the Tata Group promoted firm said in a statement.
"This partnership with Magna will expand our portfolio to now bring the latest in seating systems to the Indian commercial vehicle industry," Tata AutoComp Systems MD & CEO Ajay Tandon said.
Magna Seating President Mike Bisson said the combination of Magna's seating expertise and Tata AutoComp's knowledge of the Indian market provides both companies an opportunity for growth in the commercial vehicle market.
"Leveraging our expertise in automotive seating and delivering it to the commercial vehicle market in India is an important part of our global growth strategy," Magna Seating Vice President Deepak Nagaraja said.
Magna has 317 manufacturing operations and 83 product development, engineering and sales centres in 29 countries.
The company's product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing.
The JV will be headquartered in Pune and will supply seating systems to customers in the country.