Minda Corporation has signed a joint venture (JV) agreement with HSIN Chong Machinery Works (HCMF) from Taiwan, a global manufacturer of automotive sunroof and closure systems.
As per the company, the partnership is a 50-50 joint venture between Minda Corporation and HCMF and aims to provide cutting-edge technology backed by state-of-the-art manufacturing of sunroof and closure technology products for passenger cars by localisation in India.
Talking about the collaboration, Ashok Minda, Chairman and Group CEO – Minda Corporation, said, “This collaboration underscores our commitment to Atamnirbhar Bharat, as we strive to deliver comprehensive system solutions encompassing product design, development and manufacturing for passenger vehicles. Furthermore, Spark Minda is committed to expanding our four-wheeler segment offerings by enhancing kit value, ensuring greater benefits for our customers. Our continuous endeavour is to introduce advanced technology products that will drive the next phase of our growth.”
With evolving consumer preferences and premiumisation, the market for sunroof in India is expected to grow significantly. Additionally, the collaboration will offer advanced products and technologies in the vehicle access space, particularly for passenger cars increasing the Content per vehicle.
“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 organisations and establish a strong presence in the rapidly expanding market for Sunroof and Closure systems market in India.” Roger Hsi, Chairman, HCMF added.
