Sandhar Technologies, Daeshin Machinery form auto component joint venture_Sandhar Technologies, Daeshin Machinery form auto component joint venture

Sandhar Technologies, Daeshin Machinery form auto component joint venture

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May 21, 2024

NEW DELHI: Automotive component maker Sandhar Technologies today said it has entered into a joint venture agreement with South Korea’s Daishin Machinery partnership (Daishin Machinery) to manufacture parking brake levers and gears.

50:50 The joint venture will initially receive products or sub-components from Daishin and manufacture and supply to OEMs in India and abroad, the company said in a statement.

The joint venture plans to localize components and produce them for Indian OEMs as per mutual agreement, he added.

Co-Chairman and Managing Director, Sandhar Technologies Commenting on the tie-up, the company said that it would further strengthen its presence in the Indian automotive support industry.

“By expanding our product portfolio, the joint venture will enable us to serve a larger market. We believe that it will represent technological advancement in the automotive components industry and provide the market with the latest technology and innovations.”

Jae-hyun, President of Dasin Machinery Ltd. said, “The entire automotive industry (India) and the automotive components industry are on a growth trajectory and are expected to grow aggressively in the future.” We look forward to participating in “this growth story” with our partner Sandhar Technologies.

The partners will work together to study the viability of the technology market to develop a detailed product manufacturing and supply plan, factory setup and marketing, the statement said.

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