Plan to make audio AVN panel assemblies and switches
Sandhar Technologies, leading home-grown automotive supplier, and Jinyong Electro-Mechanics of Korea have signed a joint venture agreement in Changwon, South Korea, to manufacture and sell automobile parts in India.
“I am very happy to announce that Sandhar and Jinyong are taking their relationship to the next level by doing this 50-50 joint venture, with both partners holding equal shares”, informed Mr. Jayant Davar, Founder, Co-Chairman & Managing Director of Sandhar Technologies Ltd. The new JV company ‘Jinyong Sandhar Mechatronics Pvt. Ltd.’ will set up its facility in Chennai and is likely to be operational by August 2017.
Mr. Doo-Yung Kim, President, Jinyong Electro-Mechanics Co. Ltd., mentioned: “India is a very large automotive market with a number of well-established Korean companies. The strengthening of our existing relationship with Sandhar through this joint venture gives us an opportunity to cater to Hyundai in India and expand our footprint as well.” JEM is already supplying to Hyundai Mobis in Korea.
Founded in 1985, the Sandhar Group is a fast growing auto component major with over 6,500 employees, 34 manufacturing plants, subsidiaries in Spain, Mexico and Poland. Sandhar manufactures lock kits, mirrors, handles, latches, hinges, stamped & tubular components, plastic injected components, zinc & aluminium pressure die castings, relays, fuel level senders, operator cabins, canopies, housings, panels, switchboards, control cabinets, molds, dies and structural parts for off-highway vehicles. It also supplies steel wheel rims & assemblies, handle bars, clutch and brake panels to the two-wheeler manufacturers.
Jinyoung Electro-Mechanics Co. Ltd., founded in 1996, specializes in automotive relays, switches, multi-functional switches, latches and buzzer units; having three plants, a dedicated R&D Centre in South Korea, three plants in China and one in Mexico. It has technical tie ups with Niles, Panasonic and Miyamoto of Japan for switches, PCB relays and horn relays, respectively.
Jinyong Sandhar Mechatronics Pvt. Ltd. will manufacture and supply Audio AVN panel Assemblies and switches from its Chennai plant. The JV has already bagged its first order from Hyundai Mobis which was so far importing these products. The new company will help Hyundai Mobis and other customers source high quality products locally saving valuable time and optimizing the available resources.