NDR Auto Components forms JV with DYA Co for ₹62.96 Cr auto seats

NDR Auto Components Limited announced its Board of Directors has approved the formation of a joint venture with Korea's DYA Co., Ltd. to design, manufacture, and supply automotive seats and seat systems in India. The joint venture will involve an investment of up to INR 62.96 crore. NDR Auto Components will hold a 51.0% stake, while DYA will hold 49.0%. This strategic move aims to leverage NDR's component manufacturing capabilities with DYA's expertise to cater to Kia India and Hyundai India, expanding NDR's seating business to complete seat systems. The joint venture company will be incorporated in India, and its financial results will be consolidated into NDR Auto Components' statements. The formation is subject to definitive agreements, incorporation, and regulatory approvals.