Auto components maker Minda Corporation on Friday said it has inked a pact to form a joint venture with Taiwan-based HSIN Chong Machinery Works Co to locally produce sunroofs for passenger vehicles.
The 50:50 partnership aims to localise the production of sunroof and closure technology products.
"This collaboration underscores our commitment to Atmanirbhar Bharat, as we strive to deliver comprehensive system solutions encompassing product design, development, and manufacturing for passenger vehicles," Minda Corporation Chairman & Group CEO Ashok Minda said in a statement.
HSIN Chong Machinery Works Chairman Roger Hsi said the company is looking forward to collaborate with Spark Minda to expand its footprint in India's growing vehicle market to develop and manufacture innovative integrated automotive sunroof and closure systems for next-generation vehicles.
The company is confident that this partnership will effectively channelise the complementary strengths of both organisations and establish a strong presence in the rapidly expanding market in India, he added.
HSIN Chong Machinery Works operates through 29 sales, technical and manufacturing facilities spread globally.
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