Fiat's subsidiary Magneti Marrelli announced today to have signed a joint venture with India's Endurance Technologies in India and Thailand. They shall be producing shock absorbers for the four wheelers and the joint venture shall be operational by early 2009.
The joint venture shall have its industrial activities set up in Chakan, near Pune and in Bankok in Thailand. Endurance Technologies is already present in Thailand and it shall target its activities for designing, production and marketing of particular kind of shock absorbers suitable for cars and other commercial vehicles. It specialises in production of automotive suspensions, transmissions and braking systems. The joint venture shall cater to the demands of growing Indian auto market as well as international demands.
According to Fiat and CEO of Magneti Marelli, Eugenio Razelli -," Magneti Marelli consolidates its global footprint in the context of shock, which, next to future reality of India, already established presences in South America, U.S. and Poland. The agreement with an important partner as Endurance, a leader in India and with an impression already industrial International confirms our strategy of direct presence in a market more strategic. The combination of our technologies, broad product range, innovations such as electronic damping system of suspensions' Sdc 'and our global presence, makes our offer under the' shock absorbers' very competitive and able to meet the new strategicim markets such as the area Bric (Brazil, Russia, India, China) and Turkey."
