Pavna Industries Limited, a leading Indian automotive components manufacturer, has announced a joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).
The partnership aims to accelerate the development and market penetration of electronic locks and electric vehicle (EV) technology in India and globally.
The newly formed venture will focus on manufacturing electronic components for both internal combustion engine (ICE) and EV industries. It will also produce hardware for residential and commercial applications, including door locks. Under the agreement, Pavna Industries will hold an 80% equity stake, leveraging its extensive manufacturing, procurement, and market expertise to oversee operations in India. SMC will contribute its technical skills, R&D capabilities, and product innovations in advanced e-lock systems, EV components like motor controllers, and EV charging piles.
Swapnil Jain, Managing Director of Pavna Industries, stated the partnership is a significant step towards becoming a leader in advanced mobility solutions. He emphasized that combining Pavna’s market reach with SMC’s cutting-edge electronics knowledge will “speed up the penetration of EV technologies in India.” The collaboration will also enhance the company’s capacity to deliver innovative, dependable, and sustainable solutions to domestic and international markets. The joint venture combines localized manufacturing strength with global technological prowess, positioning both companies for growth in high-demand sectors.
