Uno Minda Limited, formerly known as Minda Industries Limited, a global Tier-1 supplier of innovative automotive systems and solutions, has announced a strategic partnership with Aisin Corporation, Japan. This collaboration, formalised through a Technical License Agreement (TLA), will see the two companies manufacturing and selling sunroofs in the Indian market.
Aisin Corporation, established in 1965, is a leading global supplier of essential automotive components, systems, and technologies for both OEM and aftermarket customers. With consolidated sales of 4,910 billion JPY for FY24, Aisin is a Fortune Global 500 company and consistently ranks among the top 10 global Tier-1 automotive suppliers. The company holds the largest market share in the sunroof segment in Japan, offering multi-panel, panoramic, and standard sunroofs.
Sunroofs, once considered a luxury feature for high-end vehicles, are becoming increasingly popular in India's automotive market. The feature's penetration has seen a fivefold increase over the last five years, with one in five new cars sold in India now equipped with a sunroof. This growing demand is driven by rising disposable incomes, economic expansion, and a large population, signaling a promising future for sunroof adoption in the country.
Nirmal K Minda, Chairman and Managing Director of Uno Minda Group, said, 'Driven by technological innovation and evolving consumer demands, the Indian automotive sector has seen impressive growth. In this dynamic landscape, sunroofs have emerged as a particularly noteworthy trend. Uno Minda, steadfast in its commitment to introducing cutting-edge technologies, is thrilled to partner with Aisin Corporation to provide a diverse range of sunroofs in India. Through the synergy of our combined expertise and production capabilities, we aim to establish ourselves as a frontrunner in the burgeoning sunroof market.'
Noriyuki Kitazato, CEO of Aisin Asia Pacific, said, 'India's growing automotive landscape, fueled by rising affluence and a thirst for premium features, presents a compelling market opportunity. We keenly look forward to joining forces with Uno Minda to cater to this fast-growing segment. This strategic partnership leverages our combined strengths, positioning us to secure a leadership position in the promising sunroof segment.'
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