Minda Corporation Limited, the main company of Spark Mina, a major supplier of car parts to major car manufacturer and other top-level customers, has made an agreement to form a joint venture with HSIN Chong Machinery Works Co. Ltd (HCMF) from Taiwan. HCMF is known for making automotive sunroof and closure systems.
In this collaboration, Minda Corporation and HCMF will share ownership equally, with a 50:50 joint venture. Their goal is to bring advanced technology and top-notch manufacturing of sunroof and closure system for passenger cars to India by localizing production.
Headquartered in Taiwan, HCMF was established in 1961 with the aim of offering cost-effective and innovative products worldwide to its customers. The company specializes in several product categories including roof systems, comfort closure systems, door and closure mechanical systems, seat systems, and mechanical & mechatronic systems. HCMF operates through 29 sales, technical, and manufacturing facilities located across the globe.
Mr. Ashok Minda, Chairman & Group CEO of Minda Corporation, announced the signing of a Joint Venture Agreement with HCMF, marking a significant step towards advancing smart mobility solutions. This partnership underscores our dedication to Atmanirbhar Bharat, focusing on delivering complete system solutions including product design, development, and manufacturing for passenger vehicles.
Commenting on the JV, Mr. Roger Hsi, Chairman, HCMF added, “HCMF is dedicated to provide world-class solutions for the automotive customers globally. 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.
