TS Tech Co (TYO:7313) signed a memorandum of understanding (MOU) with India's Krishna Group to establish a joint venture focused on developing and manufacturing automobile seats and parts, according to a Friday filing on the Tokyo Stock Exchange.
Krishna Group, a major supplier for Maruti Suzuki India (NSE:MARUTI, BOM:532500), will collaborate with TS Tech to meet the growing demand for high-performance automotive components in India.
The joint venture, expected to launch in April, will target orders from Indian automakers and develop products suited to market needs.
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