ASK Automotive Limited and AISIN Group have announced a joint venture to expand the distribution of passenger car aftermarket products across South Asia. This strategic partnership aims to combine ASK’s distribution network with AISIN’s product excellence to enhance the availability of high-quality auto components.
Major Boost for Auto Parts Market as ASK and AISIN Join Forces in South Asia
Key Highlights
- ASK Automotive Limited partners with AISIN Group to expand aftermarket services in South Asia, targeting increased accessibility of high-quality auto parts.
- The joint venture between ASK and AISIN promises a convergence of expertise and resources to better serve the four-wheeler segment.
- Strategic collaboration to enhance the independent aftermarket for passenger cars in India, Nepal, Sri Lanka, and Bangladesh.
In a significant move for the automotive aftermarket sector, ASK Automotive Limited, one of India’s leading brake shoe and advanced braking system manufacturers, has entered into a joint venture with AISIN Group Companies. This strategic alliance aims to bolster their presence in the independent aftermarket for passenger car products across India, Nepal, Sri Lanka, and Bangladesh.
Expansion into South Asian Markets
ASK Automotive, renowned for its two-wheeler products, is extending its expertise to the four-wheeler segment by partnering with AISIN Group, a prominent Japanese supplier of original equipment (OE) auto components. This collaboration will focus on distributing passenger car products in the independent aftermarket across several South Asian countries.
Leveraging Strengths for Broader Reach
The joint venture plans to utilize ASK Automotive’s robust distribution network and AISIN’s reputation for product excellence. The partnership is expected to improve access to high-quality auto components for passenger vehicles, enhancing the range of products available to car owners and mechanics in these regions.
Kuldip Singh Rathee, Chairman and Managing Director of ASK Automotive Limited, emphasized the strategic significance of the venture, stating, “This joint venture will enable us to leverage our collective expertise and resources to serve the Four-Wheeler Passenger Car Segment in Domestic and International Aftermarket.”
Aman Rathee, Executive Director at ASK Automotive Limited, expressed optimism about the joint venture’s potential to expand their business footprint. “I foresee a great success for this joint venture capitalizing on the synergies created by ASK and AISIN Group in the Independent Aftermarket ecosystem,” he noted.
From AISIN’s side, Yasuhiro Nakamura, President of Aisin Asia (Thailand), highlighted the collaborative spirit of the partnership. “We envision our joint venture with our esteemed partner ASK Automotive Limited not just as a collaboration, but as a convergence of expertise, culture, and innovation,” he remarked.
The completion of this joint venture agreement is subject to regulatory approvals, with finalization expected in the coming months.
