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Spark Minda, HCMF forge innovative partnership for Sunroof Solutions in India
Industry News- Nov 09,23
Under this collaboration, the two companies intend to leverage advanced technology and cutting-edge manufacturing processes to produce sunroof and closure technology products for passenger cars in India.
Minda Corporation Limited (Minda Corp), the flagship of Spark Minda and a prominent supplier of automotive components to OEMs and tier 1 customers, has announced a strategic partnership with HSIN Chong Machinery Works (HCMF) from Taiwan, a leading global manufacturer specialising in automotive sunroof and closure systems.
Under this collaboration, the two companies intend to leverage advanced technology and cutting-edge manufacturing processes to produce sunroof and closure technology products for passenger cars in India. The joint venture will focus on localising the production, offering comprehensive solutions ranging from design and development to the manufacturing of sunroofs for passenger vehicles. According to the company's statement, the sunroof market in India is poised for significant growth, with consumer preferences shifting towards premium features. It is anticipated that the market for sunroofs in India will expand to USD 500 – USD 600 million by 2030.
Aakash Minda, Executive Director of Minda Corporation, expressed enthusiasm about the collaboration, stating, “We are thrilled to partner with HCMF, a global leader in automotive Sunroof and Closure systems. This venture aligns with our vision to deliver advanced products and technologies in the vehicle access space, particularly for passenger cars, thereby increasing the Content per vehicle. As consumer demands evolve and the desire for premium features grows, the market for Sunroof and other advanced vehicle access products is expected to undergo substantial growth. Our continuous dedication to introducing new and advanced technology products will drive our future growth. This collaboration positions Spark Minda at the forefront by offering localised solutions.”
Hsi Chi Ming, CEO and President of HCMF, shared his optimism, stating, “The Indian automobile industry is experiencing rapid growth due to increasing affluence and demand for premium products. We are excited to enter one of the world’s largest automotive markets in collaboration with Spark Minda, the leading automotive solution provider in India. HCMF is confident that this partnership will effectively combine the strengths of both organisations and establish a robust presence in the rapidly expanding sunroof and closure systems market in the country.”
HCMF, established in 1961 and headquartered in Taiwan, is known for providing cost-competitive innovative products globally. The company operates in various product categories, including Roof System, Comfort Closure System, Door and Closure Mechanical System, Seat System, and Mechanical and Mechatronic System. With 29 sales, technical, and manufacturing facilities worldwide, HCMF has a strong global presence.
Source: auto.economictimes
Spark Minda
HCMF
Sunroof Solutions
India
Automotive Components
Joint Venture
Minda Corp
HSIN Chong Machinery Works (HCMF)
Taiwan
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