Pune (Maharashtra) [India], October 10 (ANI/NewsVoir): Advik Hi-Tech Private Limited (Advik) and Nikki Co. Ltd. have signed a Technology Collaboration for CNG regulators in their efforts to bring sustainable innovations in Compressed Natural Gas (CNG) mobility solutions to the Indian market at an affordable cost. With Nikki's established technology and Advik's manufacturing capabilities, this product will be made ready to cater to internal combustion engine applications for the India Passenger Cars & Commercial vehicles market. The new technology partnership will be responsible for the design, manufacturing, marketing, and sales of compact CNG regulators in India and to global markets. CNG regulators are used in CNG vehicles to depressurize and adjust the pressure of the gaseous fuel filled in the fuel tank. This product has wide applications from cars to commercial vehicles to industrial forklifts and stationary generators. "Advik and Nikki share a strong technology focus and a commitment to supply innovative technologies at an affordable cost. This new collaboration will further spearhead our activities in India, enabling us to support existing and potential new customers locally, and broadening our access to this new market," said Takashi Wada, President, Nikki Co. Ltd. The creation of an India-based partnership will enable Advik's expertise to be leveraged to fully localize production & supply chain and offer "Made in India" products to Indian OEMs at affordable costs. Aditya Bhartia, Managing Director, Advik Group of Companies said, "With Nikki, we have identified a strong partner in India whose technology is widely accepted across several global customers. This partnership is a strategic step in entering & growing the CNG business in India while further strengthening our relationship with several key customers. The technology agreement is in line with the company's vision to be a key player in the alternate fuel market as the country looks to diversify further away from fossil fuels into cleaner fuels. With Nikki's world-renowned technology for regulators, and Advik's strength in manufacturing, both companies aim to capture the burgeoning Indian mobility market for CNG regulators. In line with the Government of India's mandate for Atmanirbhar Bharat, products out of this technical collaboration would be manufactured in India and boost the Government's initiative. With Advik being selected for PLI, will enable India to adopt and indigenize leading global technologies. The CNG regulator is part of Advik's approved PLI and the OEMs in India as well as the country will be benefitted at large." Aditya further added that "India will be a multi-fuel market and CNG will play a critical role in widespread alternative fuel adoption." Nikki Co. Ltd., headquarters in Kanagawa, Japan was established in 1932, specializes in products related to gaseous engine systems. Globally Nikki caters to several customers across in Japan, China, Thailand, Korea & USA. They have wide experience in design and manufacturing of alternate fuel system products for usage in CNG, LPG, LNG vehicles. Advik Hi-Tech is a World leading manufacturer of oil pumps, water pumps & vacuum pumps for passenger cars, commercial vehicles, tractors, and two-wheelers. Advik is also a leader in chain tensioners, solenoid valves, CBS drum brake systems, and hydraulic disc brake systems for two-wheelers. With annual sales of around $100 million, the group also offers technologically advanced products for mobility OEMs. Last year the company acquired the manufacturing facility of Hanon Systems Bengaluru, thereby ensuring its entry into the vacuum pump and water pumps for the passenger car segment in India and Globally. Through this latest collaboration, the company will strive to widen its customer offering in the passenger car and commercial vehicle segment. For further information, visit the website www.advik.co.in. This story has been provided by NewsVoir. ANI will not be responsible in any way for the content in this article. (ANI/NewsVoir)