German firm ties up with Best Group

New Delhi: German auto parts company Koki Technik GmbH has partnered with Best Group to produce transmission components in the domestic market to supply to car and commercial vehicle companies.

Both the companies have formed an equal joint venture and would invest Rs 40 crore to set up a facility to produce seven lakh units a year at its production facility in Gurgaon.

“The plant initially we would cater to Koki’s requirements,” said Mr Nitesh Jain, Joint Managing Director, Best Group.

Koki Technik, a € 140 million company, supplies to car makers like Volkswagen, Renault, Daimler and General Motors in Europe and expects to bag orders from some of its existing customers in the domestic market.

The turnover of the Best Group is around Rs 100 crore.