Adding some running notes here on the Indian competitive landscape. It will be great if any industry experts or anyone else tracking this can add to it.
It appears that few of the top OEMs are, in some form, directly involved in manufacturing their exhaust systems:
- Maruti has a JV with Futaba called FMI Automotive as highlighted earlier here
- Ashok Leyland has a subsidiary called Albonair that supplies exhaust systems to it. Some relevant links here and here
- Tata Motors has an affiliate called Tata AutoComp that has a JV with Katcon called Tata AutoComp Katcon Exhaust Systems. Katcon is a global supplier of exhaust systems based out of Mexico. More info here
Apart from OEMs, the space is occupied by MNCs, SMIL and smaller Indian players.
The major MNC players are:
- Tenneco: It operates its exhaust business in India through “Tenneco Clean Air India Private Limited” It’s financials on Tofler are available here
- Faurecia: It operates its exhaust business through a JV with the Anand group (same promoters as Gabriel India). More details on the JV on this link. It’s financials on Tofler are available here.
Among other players, the one I found interesting was S. M. Auto. S M Auto had entered into a technical collaboration with Eberspaecher for passenger vehicles. However, for commercial vehicles, Eberspaecher decided to partner with Sharda Motors. It would be interesting to know why Eberspaecher went ahead with Sharda when they already had a collab with S M Auto.
The other key question is when the OEMs have their own JVs for exhaust systems, then why do they still buy from Sharda/Faurecia/Tenneco/others ?
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