Minda Corporation Limited has signed “Joint Venture (JV) Agreement” with HSIN Chong Machinery Works Co. Ltd. (HCMF) from Taiwan, a leading global manufacturer of Automotive Sunroof and Closure systems.
This partnership is a 50:50 Joint venture between Minda Corporation and HCMF, 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.
With evolving consumer preferences and premiumisation, the market for sunroof in India is expected to grow significantly. HCMF is a global technology leader of automotive Sunroof and Closure systems and this collaboration will offer advanced products and technologies in the vehicle access space, particularly for passenger cars increasing the Content per vehicle.
Announcing the collaboration, Ashok Minda, Chairman and Group CEO – Minda Corporation said, “We are delighted to announce the signing of a Joint Venture Agreement with HCMF, a partnership that will pave the way for smart mobility solutions. 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 endeavor is to introduce advanced technology products that will drive the next phase of our growth.'