Schedule a Call Back
Minda Corporation forms JV with Taiwan’s HCMF for sunroof and closure technology
Industry News- Jun 17,24
The JV aims to provide cutting edge technology backed by the state-of-the-art manufacturing of sunroof and closure technology products for passenger cars by localisation in India.
Delhi-NCR
Minda Corporation Ltd, the flagship company of Spark Minda that supplies automotive components to OEMs and tier-1 customers, on June 14, 2024, signed a joint venture (JV) agreement with HSIN Chong Machinery Works Co Ltd (HCMF) from Taiwan, the manufacturer of automotive sunroof and closure systems. This partnership - a 50:50 joint venture between Minda Corporation and HCMF - aims to provide cutting edge technology backed by the state-of-the-art manufacturing of sunroof and closure technology products for passenger cars by localisation in India.
Ashok Minda, Chairman & Group CEO, 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. This collaboration underscores our commitment to Atmanirbhar 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. 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.
Commenting on the JV, Roger Hsi, Chairman, HSIN Chong Machinery Works Co Ltd, said, “HCMF is dedicated to provide world-class solutions for the 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. 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.”
HCMF, headquartered in Taiwan, was founded in 1961 by Hsi Chieh to provide cost competitive innovative products globally to its customers. The company is engaged in various products groups like roof system, comfort closure system, door and closure mechanical system, seat system and mechanical & mechatronic system. The company operates via its 29 sales, technical and manufacturing facilities spread globally.
Minda Corporation is one of the leading automotive component manufacturing companies in India with a pan India presence and significant international footprint. Minda Corporation is the flagship company of Spark Minda, which was part of the erstwhile Minda Group. The company has a diversified product portfolio that encompasses mechatronics; information and connected systems and plastic and interior for auto OEMs. These products cater to 2/3 wheelers, passenger vehicles, commercial vehicles, off-roaders and after-market. The company has a diversified customer base including Indian and global original equipment manufacturers and tier 1 customers.
Minda Corp
Taiwan
HCMF
Closure Systems
automotive sunroof
HSIN Chong Machinery Works
auto components
Ashok Minda
Roger His
Aakash Minda
Related Stories
Electrical & Electronics
Bharat FIH shuts R&D and supply chain subsidiary amid revenue decline
In 2021, Bharat FIH had established two subsidiaries—Bharat Taiwan Corporation and Rising Stars Hi-Tech—to enhance research, product development, and engineering capabilities.
Read moreAuto & Auto Components
Minda Corporation achieved highest ever consolidated revenue of Rs 12.90 billion
During the quarter, the company signed a Technology Licensing Agreement with SANCO (China) to locally develop advanced Electrical Distribution Systems (EDS) solutions.
Read moreOther Industrial Products
Vedanta Limited plans $500 million investment in AvanStrate Inc.
With extensive operations and R&D capabilities across Taiwan, South Korea and Japan, ASI aims to accelerate the development of next-generation glass products designed for advanced packaging and pote..
Read moreRelated Products
Tata Motors unveils facilities for development of Hydrogen propulsion tech
AUTO COMPONENTS & ACCESSORIES
Tata Motors, India?s largest automobile company, unveiled two state-of-the-art & new-age R&D facilities for meeting its mission of offering sustainable mobility solutions. The unveilings constitute of Read more
Tata Motors plans petrol powertrain for Harrier and Safari SUVs
AUTO COMPONENTS & ACCESSORIES
Tata Motors is in the process of developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari, as confirmed by a senior company official. Currently, these models Read more
Electric Vehicle Charger
AUTO COMPONENTS & ACCESSORIES
RRT Electro is engaged in manufacturing of customized Power Electronic Products over two decades having capability to Design, Develop, Prototyping, Regulatory Compliance testing & Certification, Manuf Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
