CHENNAI: Lucas TVS Limited and Koito Manufacturing Company Limited, Japan, have agreed that Koito will assume 100 per cent ownership in India Japan Lighting (IJL) towards the end of December 2019, said a statement by Lucas TVS.
IJL is a joint venture entity between Lucas TVS and Koito Manufacturing Co Ltd. With the changes taking place in the Indian automotive industry, both the partners have agreed that Koito will assume 100 per cent ownership. Going forward, they will proceed to focus on their respective strategic initiatives, according to the statement by Lucas TVS Limited.
IJL is a leader in the automotive lighting business with operations in Chennai and Bawal in Haryana. lt is setting up a third plant at an investment of Rs 500 crore in Gujarat. In 2018-19, it reached a turnover of Rs 800 crore and is poised to serve the needs of the automotive industry by offering cutting edge technology in lighting solutions for both two-wheelers and four-wheelers.
lt has a wide customer base, which includes Maruti-Suzuki India Limited, Tata Motors, Toyota-Kirloskar Motors, Honda Motor Compnay, Yamaha, lsuzu, Daimler, Ashok Leyland, Nissan and Renault-Nissan, built over time ever since it commenced operations in the year 1997.