Auto components maker Uno Minda is aiming an over 25 per cent growth in its aftermarket business in the next 4-5 years as it looks to aggressively tap the segment, a top company official said. In the quarter ended June 2022, its aftermarket business, also called the B2C segment, accounted for 9 per cent at Rs 223 crore in the overall consolidated revenue of Rs 2,555 crore.Last week, Uno Minda announced its plans to invest Rs 300-crore in expanding its manufacturing capacity of four-wheeler alloy wheels and 4W automotive switches, to cater to the rising demand, along with setting up a wholly-owned subsidiary and an office in Dubai to enhance its aftermarket business in the Middle-East and Africa region.The company’s aftermarket pision currently distributes 12 major product categories and has a distribution network of 8,000 business partners, over 12,000 retailers and 6,000 plus mechanics, according to the company’s website.“We are going very aggressive on our aftermarket bu...

In a bid to enter India’s emerging electric vehicle market, Suzuki Motor Corp, the largest carmaker and owner of Maruti Suzuki, has hired Toshiba Corp and Denso Corp to manufacture automotive lithium-ion battery packs in India. The move could pave the way for the development of lithium-ion battery packs in India. Providing affordable power systems and drive electrification to the Indian compact car market, India is expected to grow to be the third largest automotive market by 2020 years to 2021. The joint venture is scheduled to be established in 2017 and will enter the initial production phase. The initial capital expenditure is 20 billion yen or Rs 11.84 billion. The capital of the joint venture is 2 billion yen and the investment plan is 50% Suzuki, 40% Toshiba and 10% Denso. In a statement, Japan’s Suzuki said that with India becoming increasingly concerned about the environment with the release of new CO2 emission standards, there is a need to introduce sustainable tec...