Lumax ties up with Francisco Albero for oxygen sensors
24 Aug 2017 10:59 PM IST
New Delhi: Auto components maker Lumax Auto Technologies on Thursday inked a joint venture agreement with Spanish electrical products maker Francisco Albero SAU (FAE) to manufacture oxygen sensors for the Indian market.
The joint venture company named Lumax FAE Technologies will initially produce oxygen sensors for the two-wheelers and the production will start from early 2019. As part of the agreement, Lumax Auto Technologies will own 51 per cent stake in the JV company while Francisco Albero SAU will keep the remaining.
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