Pune: Gabriel India Limited (GIL), the NSE listed flagship company of the $2.2+ billion auto components manufacturer ANAND Group, has entered into a strategic joint venture with South Korea-based HL Klemove, under which Gabriel India will become a strategic shareholder in HL Klemove India Private Limited.
The partnership marks a significant step in Gabriel India’s strategy to expand its presence across high-growth automotive segments and participate in the growing demand for Autonomous Driving Solutions including Advanced Driver Assistance Systems (ADAS), and Automotive Electronic Products through this joint venture.
As India’s automotive industry advances toward smarter and safer mobility, Autonomous Driving and Automotive Electronics technologies are becoming increasingly important. HL Klemove is amongst a select group of companies globally with established development and manufacturing capabilities in autonomous driving technologies including ADAS and automotive electronic technologies.
With this joint venture company, Gabriel India will participate in this high-growth segment, enabling deeper engagement with automakers and broadening its presence in an evolving mobility landscape.
Commenting on this, Mr. Jaisal Singh, Vice Chairman of ANAND who spearheads the group’s M&A, said, “As a key growth engine of the ANAND Group, Gabriel India is focused on building scale, enhancing competitiveness, and broadening its presence across high-growth automotive segments. Our latest joint venture with HL Klemove represents a strategic step forward in this endeavour.”
Mrs. Anjali Singh, Executive Chairperson of ANAND Group and Gabriel India Limited, said “Bolstering our position across critical automotive systems while expanding our participation in future-oriented mobility and automotive technology segments, this new JV for Autonomous Driving and Automotive Electronics marks an important inflection point, enabling Gabriel India to further diversify its portfolio and strengthen its participation in emerging mobility segments.”
Mr. Mahendra K Goyal, Group Chief Executive Officer of ANAND and Managing Director of Gabriel India Limited, said “Beyond unlocking new opportunities for growth, this collaboration will foster deeper OEM engagement, expand our participation in future mobility solutions and create enduring value for all stakeholders.”
To form the joint venture, Gabriel India Limited will acquire a 30 per cent less one share stake in HL Klemove India for US$98.44 million (approximately ₹935 crore).
Gabriel India Limited will, through HL Klemove India, develop| manufacture| and sell| a range of advanced mobility solutions, including radar, front cameras, lidar, automated driving and parking control units, with embedded ADAS software, as well as automotive electronics products such as brake ECUs, steering ECUs, chassis control units and torque sensors.
