30.07.2019
Sandhar Technologies Ltd., a diversified auto component manufacturing company, with multiple technology platforms and product lines, signed a Joint Venture agreement with Hanshin Corporation (Republic of Korea) in the presence of several of our joint venture Partners, recently.
S C Lee, Director, Daeshin Machinery Ind. Co., Ltd; D O You, Chairman, Daewha Fuel Pump Ind. Ltd.; Y K Cho, President ,Hansung I.M.P. Co., Ltd.; M J Lee, Representative Director, Hanshin Corporation; Jayant Davar, Co-Chairman and MD Sandhar Technologies Ltd.; M S Sung, President, Kwangsung Corporation Ltd.; Arvind Joshi Whole Time Director, CFO and company secretary, Sandhar Technologies Ltd.; Niraj Hans COO, Sandhar Automotives, J H Lee, Advisor Sandhar Technologies ltd. And K Y Lee, Director, Hanshin Corporation)
The joint venture is being established for manufacturing and selling, futuristic high end data cables for the automotive industry in India which would include Radio Cable, AV/NAVI Cable, GPS/DMB Cable, USB Cable, AVM Cable and others for the four-wheeler segment
This joint venture is yet another step towards expanding Sandhar’s presence into the lucrative connected car devices market through the ever expanding automotive wiring harness market which is estimated to be around USD 80 billion in 2019 and projected to reach USD 120 billion by 2025 including the wires, connectors and terminals and would be a key component of the futuristic Electric Vehicle communication controllers. The market for such components are driven by rising trend of integration of advanced features for increasing driving experience and growing demand for electric vehicles. The JV company will have its production unit in Bengaluru and is expected to commence commercial production and supplies by 4th quarter of FY 19-20.
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