Varroc announces partnership with UK based Scorpion Automotive for Vehicle Security Systems
Pune (Jan. 20, 2015): Varroc Engineering Pvt. Ltd., the flagship company of Varroc Group, India’s leading auto component manufacturer, today announced a technical collaboration with Scorpion Automotive Pvt. Ltd, UK’s trusted brand in vehicle securities, to provide security based products and marketing solutions to the automotive industry, especially the two wheeler segment in India.
Dr. Ravi Damodaran, President, Technology & Strategy, Varroc Group, signed an MOU on the technical collaboration with Mark Downing, MD Scorpion Automotive Pvt. Ltd. in the presence of Mr. Kumar Iyer, British Deputy High Commissioner, Western India &Director General, India, for UK Trade & Investment (UKTI).Mr. Ravinder Sharma, Vice President,Varroc Engineering Pvt. Ltd.was also present on the occasion.
Varroc Engineering Pvt. Ltd, India and Scorpion Auto, UK have signed a technology license agreement to exclusively design, manufacture and sell to 2W and 4W OEMs in India. The collaboration also provides the exclusive rights to Varroc Engineering to manufacture the licensed security products for their global markets. The collaboration will not only help Scorpion Automotive Pvt Ltd to expand its portfolio but will also introduce innovative products for the Two Wheeler sector in the Indian automotive Industry.
This collaboration was assisted by UK Trade & Investment (UKTI), which worked with Scorpion Automotive UK for three years, including advising on strategy for market entry into India, and assisting with identifying a suitable partner.
Speaking on the occasion, Dr. Ravi Damodaran, President, Technology & Strategy Varroc Group said: “Varroc Group is glad to join hands with Scorpion Automotive Pvt Ltd with a view to introduce innovative products for two wheeler segment in the Indian market. We have strong relationship with OEMs in India and this partnership will help us enhance our already diverse product portfolio for them. The need for security systems has not been appropriately addressed in this market for a long time; and Varroc together with Scorpion Automotive intends to address this gap with these pioneering products, which will further strengthen our market share. Scorpion Automotive’s technologically advanced products would complement Varroc’s best cost manufacturing,enabling us to offer robust designs and high quality to our customers. I am confident that this partnership will bring tremendous value to all customers.”
Varroc and Scorpion Automotive will introduce the first of its kind products like Alarms, Immobilisers, Heated Grips, Throttle Locks, Smart Chargers and Vehicle tracking devices in the Indian Automotive market. Varroc Group is the pioneer of these security auto products in the Indian market.
Mark Downing, Managing Director, Scorpion Automotive Pvt Ltd said; “This is a very exciting time for Scorpion Automotive with several new products coming to the market, we see our strategic partnership with Varroc as a very good fit for us as we look to grow the sales of our products worldwide. Varroc is technically and operationally well equipped to manufacture the products licensed through Scorpion Auto. The company has a very strong hold in the Auto market and we are pleased to be working with them as partners. The collaboration will be mutually beneficial and will contribute the overall growth of Auto sector.”
These products are applicable to all two wheeler segments, and specially designed to be robust to our market conditions and offer a viable alternative to the low value products being available in the grey market. Varroc Group and Scorpion Automotive Pvt Ltd foresee a strong market share in the auto sector by signing up with major players like Hero, Yamaha, Kawasaki, Harley Davidson &Bajaj Auto Ltd.
Mr. Kumar Iyer, British Deputy High Commissioner, Director General, United Kingdom Trade & Investment (UKTI) said: “I am delighted that UKTI has been so closely involved in this partnership between Scorpion Automotive and Varroc, both leaders in their fields in UK and India. Today’s signing exemplifies the work that UKTI seeks to do in India – identifying and assisting business collaborations between our two countries. Prime Ministers David Cameron and Narendra Modi recently supported the launch of our GREAT Collaborations campaign to celebrate tie-ups between the UK and India. In Prime Minister Modi’s words, the UK and India are an “unbeatable combination”. Varroc and Scorpion are a great example of such a GREAT collaboration”.