Naik Naik & Company Act On Eberspaecher's Indian Joint Venture With Sharda Motor Industries Limited

Live Law News Network
15 May 2019 12:57 PM GMT
Naik Naik & Company Act On Eberspaechers Indian Joint Venture With Sharda Motor Industries Limited
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Recently Sharda Motor, the leading local exhaust after treatment system manufacturer in India, and Eberspaecher, the global technology leader in emission control technologies for commercial vehicles entered into a 50:50 joint venture in India.

Starting mid- 2020, exhaust after-treatment technology in India is required to meet the new emission standard Bharat Stage VI. It represents a major technological leap from the previous Bharat Stage IV standard and requires far more complex emission control solutions. The joint venture plans to set up plants in Pune and northern India for the initial production.

The team at Naik Naik and Company, led by Founder & Managing Partner Mr. Ameet B. Naik and Partner Ms. Radhika Iyer, to advise Eberspaecher on the joint venture and technology collaboration.

In August 2018, the Esslingen-based supplier set up another joint venture company in China in order to meet the growing demand for effective emission control systems and ensure environmentally friendly mobility. With approximately 10,000 employees at 80 locations worldwide, the Eberspaecher Group is one of the automotive industry's leading system developers and suppliers. The family business, headquartered in Esslingen am Neckar, stands for innovative solutions in exhaust technology, automotive electronics and thermal management for a broad range of vehicle types.

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