~Announce total investment of INR 20 cr. for setting up factory spread across 45,000 sq. ft~
~ Will supply Wiring Harness to all OEMs in multiple segments ~
~ New company to hire 300 employees~
August 27, 2019: Elconconnectors Cables Pvt. Ltd., the country’s leading component manufacturer, has signed a joint venture with Indonesia’s PT Banshu Group and PT Askara Internal to manufacture Wiring Harness in India. Under this agreement, the companies have announced an investment of INR 20 crores to construct a state-of-the-art 45,000 sq ft manufacturing facility in Greater Noida. This facility will also house an extensive Research & Development (R&D) center. The new company will be called Elcon Banshu Wiring System Pvt. Ltd (EBWS) and shall manufacture customized Wiring Harness for all the Automotive OEMs.
Speaking on the occasion, Mr Vishal Sharma, Managing Director, Elconconnectors Cables Pvt. Ltd said, “The Indian automobile sector is set to grow in the coming years, and vehicles manufactured in India will amongst the best in the world which will require the best components. Our focus to establish EBWS as quality supplier as per BS6 standard and contribute to OEMs as an engineering partner. It is a matter of pride that PT Banshu Group and PT Askara Internal have partnered with us to supply high-quality Wiring Harness to the Indian market.”
Speaking on the occasion, Mr. Deddy Harsono, Owner & Director, Banshu Indonesia, said “Owing to the Bharat stage VI emission regulations, which will come into force by 2020 and become mandatory, there will be a significant potential and opportunity for wiring harness manufactures who can supply quality products. Banshu has more than 20 years of experience and has a team of engineering experts working dedicatedly on developing the technology for wiring harness for over a decade and we have found mutual growth opportunities.”
Mr Akihiko Yoneda, President Director, PT Banshu Electric Indonesia at the occasion stated, “I am truly pleased to announce the creation of this Joint venture, which will enable us to reach a wider market and cater to the demand of one of the fastest growing automotive markets. The demand for the 2-wheelers in India by 2020 is estimated to be 21 million units, we are gearing up for this future demand.”
The joint venture company, will be geared to offer customised and world-class product to customers in India. The company will deliver environment friendly solutions, meeting the upcoming emission regulation norms and address the menace of pollution, which is a concern in India. This is the group’s commitment through its new product lines that will help to ensure clean and green environment.