Minda strikes JV with HSIN Chong Machinery Works

CHENNAI: Auto component major

Minda Corporation

the flagship company of Spark Minda, has signed a

joint venture

(JV) agreement with HSIN Chong Machinery Works (HCMF) from Taiwan, manufacturer of automotive

sunroof

and

closure systems

.
This partnership, a 50:50 joint venture between Minda Corporation and HCMF, aims at providing sunroof and closure technology products for passenger cars by localising them for manufacturing in India.
Ashok Minda, chairman & group CEO – Minda Corporation, said, “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 particularly for passenger cars increasing the content per vehicle, said a company statement.

Roger Hsi, chairman, HCMF, added, “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. “