Auto component manufacturer Sandhar Technologies has signed a Joint Venture agreement with Winnercom Co.in South Korea for manufacturing and selling, electronic parts and accessories for the automotive industries in India which would include Shark fin antenna and micro pole antenna and other products for the four-wheeler segment.
The JV company is expected to commence commercial production and supplies by the beginning of the next financial year from its new factory premises in Bengaluru to the major OEM’s. The JV company shall ramp up its production and product range in a phased manner focusing on increased localization and indigenization of the material sourcing. This JV will help the Indian Auto majors in sourcing International quality products at a cheaper price, said the company.
Seong Hoon Jeong, CEO of Winnercom Co. said that this JV has the potential of not only having a positive impact on the Indian Automotive industry but also the Global Automotive industry. He also added that Winnercom has a pre-eminent position in the industry it operates, and its highly innovative products are aimed at catering to the customer needs in the area of Vehicle Mobility and Connected Vehicles.
Jayant Davar, Founder, Co-Chairman & Managing Director of Sandhar Technologies emphasised the importance of partnerships as a way to move forward. He said that the Indian market is big and growing. With a very low density of Cars per person in India and an expected revolution in Vehicle mobility and connected vehicles the high quality and innovative products that the Joint Venture company will supply has a huge potential.
Founded in 1985, the Sandhar Group is a fast growing auto component major with over 9000 employees, 40 manufacturing plants and subsidiaries in Spain, Mexico and Poland.
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