Auto component major Samvardhana Motherson Group (SMG)has announced its joint venture partnership with Japanese logistics firm Hamakyorex Co. The JV is through SMG's arm Samvardhana Motherson International Limited (SAMIL).
With the demand for advanced vehicles expected to rise in the Indian automotive market, Hamakyorex found it the right time to enter India and grow the land transportation business of finished vehicles in India, claimed the statement from the company. The JV will grow the land transportation business of finished vehicles in India.
Vivek Chaand Sehgal, chairman, Samvardhana Motherson Group said, “We are happy to welcome our 27th collaboration partner into the Motherson family. We are confident that the synergies are in place and that together, we can offer our customers greater solutions.”
Osuka, chairman, Hamakyorex said, “I believe India is the country which will lead the global economy from now on. This JV would do the best in India which has so much potential, bringing synergetic effects as well as contributing distribution efficiency to customers.”