Minda endeavours to introduce advanced technology products
Minda Corporation Limited (NSE: MINDACORP, BSE: 538962) has signed a 50:50 joint venture agreement with Taiwan’s Hsin Chong Machinery Works Co Ltd (HCMF) to provide cutting edge technology backed by state-of-the-art manufacturing https://www.bseindia.com/ of Sunroof and Closure Technology Products for passenger cars by localisation in India http://twse.com.tw .
Announcing the collaboration on 15 June, Minda Corporation Chairman & Group CEO Ashok Minda https://www.nseindia.com/ said, “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 http://heavyindustries.gov.in .
“This collaboration underscores our commitment to Atmanirbhar Bharat https://www.phdcci.in/ , as we strive to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles https://www.sidm.in/ .
“Furthermore, Spark Minda https://sparkminda.com/ 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 https://www.investindia.gov.in/ .”
With evolving consumer preferences and premiumisation, the market for sunroof in India is expected to grow significantly http://roc-taiwan.org . 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 https://www.ibef.org/ .
Commenting on the JV, HCMF Chairman Roger His elaborated, “HCMF is dedicated to provide world-class solutions for the automotive customers globally. We are excited to collaborate with Spark Minda https://www.cii.in/ 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 https://ficci.in/api/home .
“HCMF is confident that this partnership http://mhi.com 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 https://www.makeinindia.com/home/ .”
HCMF 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 https://www.carwale.com/ .
Minda Corporation 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 https://www.autocarindia.com/ , 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.
For assimilating the latest technologies, Minda Corporation has a dedicated R&D facility and collaborations with the pioneers and leaders of the automobile industry. This has provided Minda Corporation with the cutting edge in product design and technology to meet strict international quality standards. Fiinews.com
