Minda Corporation has announced the incorporation of a new joint venture (JV) company, MINDA-HCMF Technologies Private Limited, in partnership with HSIN Chong Machinery Works Co., Ltd (HCMF). The JV, formed on a 50:50 basis, aims to develop, manufacture, and commercialize automotive sunroof solutions and closure technology products.
Key Details of the Joint Venture:
- Share Capital: ₹8.31 crore, divided into 83,10,000 crore equity shares of ₹10 each. Both parties will equally subscribe to the share capital.
- Purpose: Focus on developing advanced automotive sunroof solutions and closure technology products for passenger cars and related components.
- Industry: Auto components and equipment.
The JV reflects a strategic move by Minda Corporation to expand its product portfolio and strengthen its presence in the growing automotive solutions market.
