Flagship venture of Spark Minda Group - Minda Corporation Limited has announced a joint venture with Korea based INFAC Elecs for Automotive Antenna Solution. The partnership aims to develop new solutions for automotive safety, connected & autonomous technologies. Connectivity-based safety features such as remote keyless entry, V2V & V2X communication will help building up demand for antennas products and solutions. The joint venture will offer multiple Antenna products like Rod Antenna, Micro Pole Antenna, Shark Fin Antenna and LF Antenna among others.
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The joint venture will offer multiple Antenna products like Rod Antenna, Micro Pole Antenna, Shark Fin Antenna and LF Antenna among others.
Ashok Minda, Chairman and Group CEO, Spark Minda Group said, "We are extremely delighted to form the Joint Venture with INFAC Elecs from Republic of Korea. The Indian automotive industry is moving towards the theme of "Safe, Smart, & Connected" and Spark Minda aims to be a leading player in this domain. With INFAC's strong capability in advanced solution in Antenna systems, the Joint Venture will offer latest technology products to all segments of the Automotive Industry. At Spark Minda, we are committed to offer advanced products, technologies and solutions in Connected, Electronics, Light Weighting, Safety, Electric Mobility space organically and inorganically."
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Woong Seon Choi, President, INFAC Group said, "I am so delighted that the joint venture agreement between Infac and Spark Minda has concluded successfully. This agreement is the second achievement, following the Technical Assistance Agreement dated on 12th August, 2019 and means both companies have similar goal and conviction of successful business to be in India automotive market filled with high potential and possibilities. I am sure that this JV firm would grow its business significantly and finally achieve its goal in India, and bring both companies huge profits. Infac will do its best to provide full support for the success of the JV."
The company also mentioned that the joint venture will manufacture the antennas locally from the newly set up manufacturing unit in Pune.
