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Auto component maker Gabriel India, a unit of Anand Group, on Tuesday inked a technical collaboration with Netherlands-based Inalfa Roof Systems to manufacture sunroofs for passenger vehicles (PVs), with an investment of around ₹180 crore.
The newly-formed Inalfa Gabriel Sunroof Systems (IGSS), which will initially be a wholly-owned subsidiary of Gabriel India, will produce sunroofs at a new plant in Chennai with operations set to commence in the first quarter of 2024, the company said.
The entities noted that IGSS will be later converted into a joint venture (JV) with Inalfa holding 51 per cent shareholding. IGSS will have an installed production capacity of two-lakh units in the first phase with first line catering to Hyundai and Kia.
“This partnership supports the government’s AatmaNirbhar manufacturing drive, provides our original equipment manufacturer (OEM) customers with a domestic and resilient supply chain for sunroofs,” Anjali Singh, Executive Chairperson, Anand Group, told reporters here.
Anand Group’s range of auto components and systems are present in more than 99 per cent of PVs on Indian roads, and this alliance further strengthens Anand’s successful record of nurturing partnerships for over six decades, she said.
Also read: Auto component makers in an investment spree post Covid restrictions
The move also expands Gabriel’s product range and will create over 250 direct and indirect jobs in India, she said adding that the new venture is expected to generate a revenue of around ₹1,000 crore by 2030.
Anand Group has 21 companies, out of which 13 are joint ventures. Gabriel India, the listed entity of the group, is a leader in the vehicle suspension systems in the domestic market. “We are looking forward to successful cooperation with Gabriel and Anand Group and we will leverage our unique competitive advantage to the benefit of our customers in the Indian market,” Linda Gao, CEO of Inalfa Group, said.
Inalfa Roof Systems Group, with a $1.5-billion turnover, is a global market leader in the automotive sunroof systems with presence in 15 locations worldwide. “For Inalfa, this is a great opportunity to enter into the growing automotive market in India with a well-established partner,” she added.
The demand for sunroof in PVs has grown at a fast pace in the last few years, in the domestic market, and as per industry estimates, the automotive sunroof market in India could cross seven-lakh units this year against five-lakh units last year.
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