(MENAFN- KNN India)
New Delhi, Aug 28 (KNN) Japanese car Audio and entertainment system manufacturer Pioneer is looking to expand its footprint in the Indian automotive sector through strategic partnerships with automakers, as part of its long-term growth strategy.
The company, which is renowned globally for supplying automotive items such as infotainment systems, speakers, and other audio solutions, has traditionally focused on the aftermarket segment in India.
However, this approach is set to change as Pioneer aims to establish itself in the Original Equipment Manufacturer (OEM) market.
"In India, honestly, so far in the last 16 years, the focus was never on the OEM side, and which I would say, is a major shift. So, going forward, one of the main growth agendas is going to be getting established in the OEM world," Pioneer India Managing Director Aniket Kulkarni told PTI in an exclusive interaction.
Kulkarni highlighted that the company is already in discussions with various automakers but declined to disclose specific details. "So, there are very active programme discussions, which are happening, be it on the camera side, on the infotainment or the amplifier solutions. And I think soon, we will see products going live in the market," he stated.
As part of its strategy to strengthen its presence in India, Pioneer is also planning to enhance localisation efforts. This involves forming partnerships with local contract manufacturers for the production of various components.
"In the first phase, we will try and partner with established players in every product category, say for dash cams, or for infotainment or speakers," Kulkarni noted.
Currently, the company imports most of its products sold in the aftermarket from Thailand and Vietnam. However, Pioneer is not yet at a stage where establishing a full-fledged manufacturing plant in India is feasible.
As part of its commitment to the Indian market, Pioneer India introduced four new models of dash cameras on Tuesday. This move aligns with the company's goal of capturing a significant share of the rapidly growing dashboard camera market in India, which is expected to grow at an exponential rate of 15-16 per cent from 2024 to 2030.
"The dashboard camera market in India is expected to grow at an exponential rate of 15-16 per cent from 2024 to 2030. Our new smart dash camera portfolio is aimed at capturing a significant share of this growth," Kulkarni said.
With its renewed focus on the OEM market and strategic localisation plans, Pioneer aims to solidify its position in the competitive Indian automotive market, driving growth and expanding its product offerings.
(KNN Bureau)
MENAFN28082024000155011030ID1108611868
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.