Automotive solutions provider Lumax-DK Jain Group has partnered with Japanese electronics component manufacture Alps Alpine Co to introduce Alpine's premium car audio range, a segment in which it expects 30 per cent market share in four years.
Lumax-DK Jain Group is sensing good potential in the premium car audio infotainment products and introduced certain products, which includes display units, digital sound processors, high-quality sound speakers & amplifiers range among others.
This alliance is not only limited to marketing but in the future, if a decision is taken for localisation of certain components, Lumax-DK Jain Group would remain a partner in that also.
"This is to penetrate the Indian market and gain around 30 per cent market share in the premium car audio infotainment segment of this particular business in the next four years," Lumax-DK Jain Group Group CEO Vineet Sahni told PTI.
According to Sahni, the premium car infotainment market's size is around Rs 600 crore, at present.
When asked about the partnership, Sahni said his group would also partner if there is a probability of local manufacturing or value addition.
"We are their partner not only for marketing but even in the future, if they localise the product, we will be their partner," he said adding it is not only marketing but "a complete alliance".
However, Sahni did not share any timeline for that and any investment details for this.
"We are working on the strategy, where we will eventually start localising certain parts," he said adding "It's still work in progress".
Alpine, a Japanese car electronics brand is a subsidiary of Alps Alpine Co, Ltd, which specialises in-car audio and sound systems for OEM and aftermarket brands.
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