Major auto component maker, Anand Automotive Systems, has formed a joint venture with Japan-based Takata Corporation to manufacture airbags, seat belts and steering wheels in India for the domestic original equipment manufacturers (OEM).
The two firms have formed a joint venture (JV) firm — Takata India Private (TIPL). It is presently setting up a unit in Chennai and is also planning another one at Neemrana in Rajasthan for producing seat belts, airbags and steering wheels.