Gabriel India Limited, ANAND Group’s BSE-listed flagship company, signed a Technical Collaboration and Alliance agreement with the $1.5 billion Dutch-based Inalfa Roof Systems (Inalfa) to manufacture sunroofs for the fast-growing Indian automotive market.
The newly formed Inalfa Gabriel Sunroof Systems Pvt. Ltd. (IGSS), which will initially be a wholly owned subsidiary of Gabriel India (gabr.ns), will manufacture sunroofs for PVs at a new plant near Chennai that will start operations in the Q1 of CY 2024 at a projected $22 million investment.
It is intended that IGSS will be converted into a joint venture between INALFA ROOF SYSTEMS GROUP B.V, Netherlands, and Gabriel India Ltd, with Inalfa holding 51% shareholding, a statement said.
The alliance will see Gabriel India Limited, a national leader in suspensions, enter a new segment that is fast garnering favour, especially with SUV and younger car buyers, it said.
“Gabriel’s alliance with Inalfa, Netherlands known for its pioneering and high-quality roof systems, is a winner for both Gabriel and Inalfa in multiple ways,” said Anjali Singh, Executive Chairperson of the $2-billion ANAND Group, whose range of auto components and systems are present in more than 99% of passenger vehicles on Indian roads.
“This alliance reflects ANAND’s belief of “Connected to the Ground, Open to the Sky”, which is perfectly in sync with Inalfa’s slogan of “we open up your world with every drive”.
Singh, who is also the Executive Chairperson of Gabriel, further added: “This partnership supports the government’s path-breaking AtmaNirbhar (self-reliant) manufacturing drive; provides our OEM customers with a domestic and resilient supply chain for sunroofs; expands Gabriel’s product range; and will create over 250 direct and indirect jobs in India.
“This alliance further strengthens ANAND’s successful record of nurturing partnerships for over six decades.”
Speaking about the alliance, Linda Gao, CEO of Inalfa Group, said, “For Inalfa this is a great opportunity to enter into the growing automotive market in India with a well-established partner.”
Inalfa Roof Systems Group, with a $1.5 billion turnover, is a global market leader in automotive sunroof systems, with a presence in 15 locations worldwide.
“We are looking forward to successful cooperation with Gabriel and ANAND Group and we will leverage our unique competitive advantage to the benefit of our customers in the Indian market,” Gao further stated.
In recent years, rising aspirations, the Covid-led impetus for personal mobility, coupled with higher consumer awareness of more advanced features of PVs such as connectivity and voice control, has created strong demand for sunroofs in India, with some OEMs seeing one-in-five cars sold coming with such fitments that are agnostic to a vehicle’s powertrain, according to the statement.
In fact, some OEMs, including Gabriel customers, are seeing close to, or around, 40% of their PV sales come with sunroofs.
“This is the beginning of the golden age for the increasingly knowledgeable, aspirational, and discerning Indian car buyer and, therefore, Gabriel is diversifying into sunroofs to serve this new-age feature-and-cost-conscious customer through its alliance with a leading partner like Inalfa, via its strong ties with world-class OEMs. This will further strengthen Gabriel’s, and the broader ANAND Group’s, position as a trusted partner to nearly all OEMs in India,” said Manoj Kolhatkar, MD of Gabriel, and member of the ANAND Executive Board.
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