Gabriel India ties up with Inalfa to manufacture sunroofs for PVs

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Automotive components maker Anand Group said on Tuesday that its Gabriel India unit has signed a technical collaboration with Netherlands-based Inalfa Roof Systems to manufacture sunroofs for passenger cars.

The newly formed Inalfa Gabriel Sunroof Systems (IGSS), which will initially be a wholly owned subsidiary of Gabriel India, will produce sunroofs at a new plant in Chennai with operations to start in Q1 2024 with an investment of around Rs 170 crores.

The entities indicated that IGSS would later be converted into a joint venture with Inalfa holding 51 percent of the shares.

IGSS will have an installed production capacity of 2 lakh in the first phase with the first line serving South Korean auto manufacturers Hyundai and Kia.

“This partnership supports the government’s AtmaNirbhar manufacturing campaign; provides our OEM customers with a local and flexible supply chain for sunroofs,” Anjali Singh, CEO of Anand Group, told reporters here.

She added that the move also expands Gabriel’s product range and will create more than 250 direct and indirect jobs in India.

Singh noted that the new venture is expected to generate revenues of around Rs. 1,000 crore by 2030.

Anand Group owns 21 companies out of which 13 are joint venture companies. Gabriel India, the entity included in the group, is a pioneer in vehicle suspension systems in the domestic market.

Linda Gao, CEO of Inalfa Group, said the partnership with Gabriel is a great opportunity to enter the growing automotive market in India.

Inalfa Roof Systems Group, with a turnover of US$1.5 billion, is the global market leader in auto sunroof systems with a presence in 15 locations worldwide.

The demand for sunroofs in passenger cars in the domestic market has grown at a rapid rate in the past few years.

According to industry estimates, the auto sunroof market in India could exceed 7 lakh units this year as against 5 lakh units in 2022.

Globally, the auto sunroof market will reach USD 13.6 billion by 2030 at a compound annual growth rate (CAGR) of 9.3 percent between 2010 and 2030.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)