Magneti Marelli in talks with Endurance, Unitech, for auto parts manufacturing JVs

A Fiat Group subsidiary, Magneti Marelli is in talks with Endurance Technologies and Unitech Technologies for setting up of joint venture companies to manufacture auto components for four-wheelers. Magneti Marelli is expected to hold a 49% stake in both the JVs.

Endurance Technologies is an Aurangabad-based company that manufactures casting, suspension, transmission and braking products, with annual sales of Rs 1,265 crore from domestic operations and around Rs 770 crore from overseas operations. Its JV with Magneti is likely to be located in Maharashtra, and will manufacture automotive shock absorbers.

Magneti’s JV with Unitech is likely to be located near Delhi, and the company will manufacture electric/electronic components like automotive instrument clusters, for four-wheelers.

Magneti Marelli had a turnover of 5 billion euros in 2007, and the Italian company is a leader in the automotive systems and components space, supplying parts to leading carmakers in Europe and America. For more details on Magneti operations, visit their official website here.