Minda Corporation Limited, the flagship company of Spark Minda Group has recently announced a JV (joint venture) with the Republic of Korea’s INFAC Elecs Co. Ltd. The said partnership is about bringing a new range of automotive antenna solutions for the Indian automotive market. The latest partnership aims to capitalize on the opportunities for growth in automotive safety, connected & autonomous technologies. The company believes that connectivity-based safety features such as remote keyless entry, V2V & V2X communication will spur demand for devices like antennas products and solutions. The said joint venture will offer multiple antenna products like rod antenna, micro pole antenna, shark fin antenna, LF antenna, etc. The company said in a press release that this joint venture will be about manufacturing the antennas locally from the newly set up state-of-the-art manufacturing unit in Pune.
Speaking on the announcement, Ashok Minda, Chairman and Group CEO, Spark Minda Group said that the company is extremely delighted to form the Joint Venture with INFAC Elecs from the Republic of Korea. He added that the Indian automotive industry is moving towards the theme of “Safe, Smart, & Connected” and Spark Minda aims to be a leading player in this domain. Moreover, with INFAC’s strong capability in advanced solutions in Antenna systems, the JV will offer the latest technology products to all segments of the automotive industry.
Woong Seon Choi, President, INFAC Group said that the brand is delighted that the joint venture agreement between Infac and Spark Minda has concluded successfully. He added that this agreement is the second achievement, following the Technical Assistance Agreement dated on 12th August, 2019 and means that both companies have similar goals and conviction of successful business to be in the Indian automotive market filled with high potential and possibilities.
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