Home-grown auto component manufacturer, Sandhar Technologies signed a joint venture agreement with Hanshin Corporation (Republic of Korea) to manufacture and sell futuristic high-end data cables for the automotive industry in India.
This 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 $80 billion in 2019 and projected to reach $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 is driven by the 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.
Founded in 1985, the Sandhar Group have 40 manufacturing plants and subsidiaries in Spain, Mexico and Poland.
Hanshin Corporation headquartered in HWASEONG/KOREA was established in 1990 and started production of Antennae pole for Daewoo in 1991.
It is a renowned player in the field of High-End Data Cables and Around View Monitoring Harnesses for automobiles.
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