Tier-I Auto component maker Anand Group on Tuesday said its flagship company Gabriel India has inked a technical collaboration with Netherlands-based Inalfa Roof Systems to manufacture sunroofs for the passenger vehicles. The companies have formed a new entity called Inalfa Gabriel Sunroof Systems (IGSS) which will initially be a wholly-owned subsidiary of Gabriel India. It will produce sunroofs at a new plant near Chennai employing 250 people.
The operations are set to begin in the first quarter of CY 2024. In the first phase, it will have an installed production capacity of 2 lakh units and cater to South Korean automakers Hyundai and Kia. Later, the company also plans to supply sunroofs to domestic OEMs including Maruti Suzuki, Tata Motors and Mahindra & Mahindra.
The companies intend to convert IGSS into a joint venture, with Inalfa holding 51% shareholding, “after receiving regulatory approvals”. The proposed investment is projected at around INR 170 crore. Anjali Singh, Executive Chairperson, Anand Group, said that the partnership supports AtmaNirbhar initiative and expands Gabriel’s product range. The new tie-up is expected to generate a revenue of around INR 1,000 crore by 2030.
Linda Gao, CEO, Inalfa Group, said that it is a great opportunity to enter into a growing automotive market like India. As per industry estimates, automotive sunroof sales in India could cross over 7 lakh units in CY 2023, as against 5 lakh units in CY 2022. Globally, this market is projected to reach USD 13.6 billion by 2030 with a CAGR of 9.3% between 2010 and 2030.
Inalfa Roof Systems is a USD 1.5 billion turnover Group having presence in 15 locations globally. Anand is a USD 2 billion Group having 21 companies including 13 joint ventures. It also has 6 technical collaborations.