Remsons Industries Ltd has entered into a joint venture agreement with Daiichi Infotainment Systems for a 50:50 investment in the automotive electronics segment.
Daiichi is part of Dogan Group, a conglomerate in Turkey with a revenue of $2 billion.
“Our joint venture will focus on developing advanced electronics solutions tailored to meet the demands of next-generation vehicles, including infotainment systems, digital clusters, rear-view cameras, and USB chargers. Through a collaborative approach that prioritises innovation, reliability, and sustainability, we aim to empower automakers with the tools they need to drive progress and enhance the driving experience for Indian markets,” Remsons Industries said in a press statement.
Shares surged by 5 per cent to hit a 52-week high on the NSE today, trading at ₹935.80 as of 2.26 pm.