Mumbai, Oct. 5 -- Japanese tier 1 supplier Denso Corporation and Niterra Co., have agreed to terminate their business transfer agreement concerning Denso's Spark Plug and Exhaust Gas Sensor business, which was originally executed on 1 September 2025.

The initial agreement followed a memorandum of understanding signed in July 2023, under which both companies explored transferring Denso's spark plug and exhaust gas sensor operations - including oxygen sensors and air-fuel ratio sensors - to Niterra to streamline internal combustion engine (ICE) component manufacturing amidst global vehicle electrification.

The revision in the original plan is said to be due to changes in the market environment, which led Denso to reassess its strategy und...