New Delhi, Feb 22 (UNI) Luminous Electronic Ltd, leader in power electronic products in India, today tied up with South Korea's Hyundai Corporation, to launch a range of brand inverters, UPS systems, and associated batteries in the Indian market.
Announcing the tie-up, Luminous MD Navneet Kapoor said in a statement ''We are targeting a business of over 120 million dollars over the next three years for the Hyundai branded power products, including Deep Cycle as well as VRLA batteries.'' He further added, ''these inverters and UPS systems will be manufactured in a factory at Baddi, Himachal Pradesh.'' Hyundai GM H D Bang said, ''based on the initial success of this agreement, we also have plans to extend the scope of our alliance.'' UNI RA SD KN1856