Minda Corporation Limited, the flagship company of Spark Minda, a leading automotive components supplier to OEM’s and tier 1 customers has entered into agreement for forming a Joint Venture (JV) with HSIN Chong Machinery Works Co. Ltd. (HCMF) from Taiwan, a leading global manufacturer of automotive Sunroof and closure systems. This partnership aims to provide cutting-edge technology backed by state-of-the-art manufacturing of Sunroof and Closure Technology Products for passenger cars by localization in India.
The joint venture aims to provide a comprehensive solution for passenger vehicle sunroof design, development, and manufacturing, with the market expected to reach USD 500-600 million by 2030 due to premiumization preferences.
Commenting on the JV, Mr. Hsi Chi Ming, CEO & President, HCMF said, “HCMF is confident that this partnership will effectively channelize the complementary strengths of both organizations and establish a strong presence in the rapidly expanding sunroof and closure systems market in the country.”HCMF, founded in 1961, offers innovative products globally, including Roof System, Comfort Closure System, Door and Closure Mechanical System, Seat System, and Mechanical & Mechatronic System.
