"In India, where the automotive market is expected to grow over the long-term, it would be necessary for the Koito Group and IJL to accelerate its decision-making," Koito Group said.
The company has decided to increase IJL’s capital to strengthen its financial base.
IJL has manufacturing operations in Chennai and Haryana's Bawal and is setting up a third plant at an investment of Rs 500 crore in Gujarat.
ln 2018-19, it reached a turnover of Rs 800 crore and is poised to serve the needs of automotive industry
by offering cutting edge technology in lighting solutions for both two wheelers and four wheelers.
Its customer base includes Maruti-Suzuki, Tata Motors, Toyota-Kirloskar Motors, Honda, Yamaha, lsuzu, Daimler, Ashok Leyland, Nissan and Renault-Nissan.