Minda Corporation, the flagship company of Spark Minda, has entered into a Joint Venture Agreement with HSIN Chong Machinery Works (HCMF), a Taiwan-based global manufacturer of automotive sunroof and closure systems. This strategic partnership aims to manufacture sunroof and closure technology products for passenger cars in India.
The joint venture, structured as a 50:50 partnership, represents a significant step towards enhancing the technological landscape of India’s automotive sector. Ashok Minda, Chairman and Group CEO of Minda Corporation, emphasized the importance of this collaboration, stating, “This partnership 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.”
With consumer preferences evolving and a growing trend towards premiumisation, the market for sunroofs in India is expected to expand significantly. HCMF, a global technology leader in automotive sunroof and closure systems, will bring advanced products and technologies to this partnership, enhancing the vehicle access space for passenger cars and increasing the content per vehicle, according to a press release.
Roger Hsi, Chairman of HCMF, expressed enthusiasm about the collaboration, saying, “We are excited to collaborate with Spark Minda to expand our footprint in India’s burgeoning vehicle market and develop innovative integrated automotive sunroof and closure systems for next-generation vehicles. We are 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 in India.”
Founded in 1961 by Mr. Hsi Chieh, HCMF is headquartered in Taiwan and is engaged in various product groups, including roof systems, comfort closure systems, door and closure mechanical systems, seat systems, and mechanical and mechatronic systems. The company’s commitment to providing cost-competitive and innovative products globally aligns well with Spark Minda’s vision for technological advancement in the automotive industry.
This joint venture marks a significant milestone in the development of India’s automotive sector, promising to bring cutting-edge sunroof and closure technologies to the market and cater to the increasing demand for premium automotive features.
