Minda Corporation and HSIN Chong Joint Venture to Revolutionize Indian Automotive Market

Minda Corporation Limited and HSIN Chong Machinery Works Co. Ltd. have signed a joint venture agreement aimed at manufacturing advanced sunroof and closure systems for passenger vehicles in India. This partnership aligns with the 'Atmanirbhar Bharat' initiative, promising significant technological advancements and localization in the automotive sector.

Minda Corporation Limited (NSE: MINDACORP, BSE: 538962), a pivotal entity in Spark Minda, has entered into a landmark joint venture agreement with Taiwan's HSIN Chong Machinery Works Co. Ltd. (HCMF). This collaboration is set to revolutionize the Indian automotive market by manufacturing advanced sunroof and closure systems with state-of-the-art technology.

The 50:50 joint venture, focused on localization, aims to cater to evolving consumer preferences and the increasing demand for premium automotive features. Chairman and Group CEO of Minda Corporation, Mr. Ashok Minda, emphasized that this collaboration underscores the company's commitment to 'Atmanirbhar Bharat', aiming to deliver comprehensive system solutions and enhanced kit value for passenger vehicles.

HSIN Chong Machinery's Chairman, Mr. Roger Hsi, expressed enthusiasm for the partnership, highlighting the potential to channelize the complementary strengths of both organizations. With a rich history dating back to 1961, HCMF remains at the forefront of innovative automotive solutions, and this venture marks a significant stride in their global expansion strategy.

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