Now Reading: Voltas, Atomberg form joint venture for AC compressors
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Voltas, Atomberg form joint venture for AC compressors
Voltas has announced a joint venture with Atomberg to manufacture room air conditioner compressors and related components in India. The partnership aims to combine Voltas' market knowledge and supply chain with Atomberg's…
The Story in Brief
Voltas has announced a joint venture with Atomberg to manufacture room air conditioner compressors and related components in India. The partnership aims to combine Voltas' market knowledge and supply chain with Atomberg's proprietary compressor technology and energy-efficient motors. The company disclosed the plan in an exchange filing alongside its June-quarter results, where consolidated net profit rose 53% to Rs 214 crore and revenue grew 19% to Rs 4,673.50 crore. Separately, Noel Tata recently said he would step down as Voltas chairman, expressing confidence in the next leadership team.
The Indian Opinion
The Voltas-Atomberg venture is the latest 'Make in India' appliance story that sounds better in a press release than on a factory floor. Indian AC makers have announced similar localisation plans before, yet compressor imports remain high. What matters is not the memorandum but the manufacturing timeline. A concrete test: when the first made-in-India compressor rolls out and at what cost versus imported ones, that number will separate substance from spin.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
