Daikin India and Rechi Precision, Taiwan set up JV for compressor manufacturing, design and sales for HVAC industry

Daikin India and Taiwan's Rechi partnered to make AC compressors in Sri City. The new factory will start production by late 2024. This reduces India's dependence on China for components. The plant will also export compressors. Daikin plans to invest Rs 1,400 crore to double capacity. The move addresses rising AC demand due to extreme weather.