Noida- Minda Corporation Limited., a components manufacturer, of the Spark Minda, has signed a Joint Venture Agreement with Hsin Chong Machinery Works Co Ltd., a Taiwan-based manufacturer of Automotive Sunroof and Closure systems.
The 50:50 joint venture aims to manufacture sunroofs and closure technology products for passenger cars in India. With growing consumer demand and premiumisation, the Indian sunroof market is set to expand significantly. HCMF, a global leader in automotive sunroof and closure systems, will bring advanced products and technologies to this collaboration, enhancing vehicle access and increasing content per vehicle.
Mr. Ashok Minda, Chairman and Group CEO, Minda Corporation said, “This collaboration underscores our commitment to Atmanirbhar Bharat, as we strive to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles. Our continuous endeavour is to introduce advanced technology products that will drive the next phase of our growth."
Mr. Roger Hsi, Chairman, HCMF said, "We are excited to collaborate with Spark Minda to expand our footprint in India's burgeoning Indian vehicle market to develop and manufacture innovative integrated Automotive Sunroof and Closure systems for next generation vehicles."
"HCMF is confident that this partnership will effectively channelise the complementary strengths of both organizations and establish a strong presence in the rapidly expanding market for Sunroof and Closure systems market in India."
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