Lubricant maker Castrol India has joined hands with 3M India Ltd (3M) to bring a range of vehicle care products for the automotive after-market. The partners will bring in a range of 3M-Castrol branded bike and car care products like shampoo, glass cleaner, cream wax, dashboard and tyre dressers.
Castrol will offer 3M's vehicle-care products range to its customers and consumers, through its pan-India marketing and distribution network of over 1,00,000 independent workshops and retail outlets.
To discuss the structure of the arrangement, CNBC-TV18 spoke with Omer Dormen, MD, Castrol India and Debarati Sen, MD, 3M India.
"Through this collaboration, we enter into the $200 million vehicle care market in India, a move which aligns with Castrol's approach to developing and embracing new business models in the ever-evolving automotive landscape," Dormen said.
"There will be a significant investment to build customer awareness and capability and at the same time, there would also be a significant investment in research and development. We will be bringing in two global giants together working as one team to ensure we have the right revenue sharing model going forward,” said Dormen.
"This collaboration will help us leverage our common strengths to meet the changing needs of Indian consumers and bring unique value offerings through the 3M-Castrol range of vehicle care products," Sen said.