Minda Corporation Limited, the flagship company of Spark Minda, has formed a Joint Venture with Taiwan-based HSIN Chong Machinery Works Co. Ltd. The partnership aims to provide advanced technology and state-of-the-art manufacturing of Sunroof and Closure Technology Products for passenger cars in India, backed by localization in the country. This partnership is expected to enhance the company’s offerings in the automotive components sector.
The joint venture between HCMF and Taiwan-based company Hsi Chieh will provide a comprehensive solution for designing, developing, and manufacturing passenger vehicle sunroofs. The market for sunroofs in India is expected to reach $500-600 million by 2030, driven by premiumization preferences.
HCMF, founded in 1961, offers innovative products in various categories, including roof systems, comfort closure systems, and seat systems. 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.”
