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FIEM Industries has entered into joint venture (JV) with Japanese firm, Aisan Industry Co.
The company has signed a joint venture agreement with Aisan Industry Co. Ltd., Japan for manufacture of fuel injection system and IC connector for two-wheelers and three-wheelers for Indian market. Fuel injection system will be compulsory for two-wheelers and three-wheelers w.e.f. April, 2020 under Bharat Stage VI (BS VI) regime.
Further, the initial share capital of joint venture is proposed to be Rs.1 billion, where FIEM will hold 26% stake and Aisan will hold atleast 69% stake and the factory of the JV will be located at Tapukara / Salarpur industrial area, Rajasthan in ELCINA Electronic Manufacturing cluster.
