Minda Signs JV With HCMF for Localised Automotive Sunroof and Closure Systems

Minda and HCMF have formed a 50:50 joint venture to support the localisation of sunroofs and closure systems for passenger cars in India.

By Sanorita | on June 14, 2024 Follow us on Autox Google News

Minda Corporation has partnered with Taiwan-based HSIN Chong Machinery Works (HCMF) to strengthen the automotive sunroof and closure systems segment in India. It is a 50:50 joint venture that will concentrate on localising the production of sunroof and closure systems in India for passenger cars. Through this collaboration, Minda Corp will benefit from HCMF's worldwide expertise in these automotive products. There is no denying the fact that there's a significant rise in demand for high-end amenities such as sunroofs in India, with a growing number of buyers preferring to install one in their vehicles. With this new collaboration, cutting-edge products and innovations, particularly for passenger cars, will be offered in the category.

For those unaware, Taiwan-based HCMF is well-known for developing affordable and innovative products in a variety of automotive spaces, such as door and closure systems, seat systems, mechanical and mechatronic systems, comfort closure systems, and roof systems.

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Official Statements

Ashok Minda, Chairman & Group CEO – of Minda Corporation commented '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.'

He added '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 and ensuring greater benefits for our customers. Our continuous endeavor is to introduce advanced technology products that will drive the next phase of our growth.'

Roger Hsi, Chairman, HCMF said 'HCMF is dedicated to providing world-class solutions for automotive customers globally. 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.'

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He also said 'HCMF is 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 market in India.'

Tags: Minda HCMF JV

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