New Delhi: Minda Corporation Limited, the flagship of Spark Minda Group, on Tuesday signed a joint venture with Republic of Korea’s INFAC Elecs Co. Ltd. to bring its range of automotive antenna solution for the Indian automotive market.
The partnership aims to capitalise on the opportunities for growth in automotive safety, connected and autonomous technologies, the company said in a release.
According to the auto component maker, connectivity-based safety features such as remote keyless entry, V2V, and V2X communication will spur demand for devices like antenna products and solutions. Under the partnership, the antennas will be manufactured at its state-of-the-art manufacturing unit in Pune.
“With INFAC’s strong capability in advanced solutions in antenna systems, the joint venture will offer the 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, lightweighting, safety, and electric mobility space organically and inorganically,” Ashok Minda, chairman and Group CEO, Spark Minda Group, said.
Woong Seon Choi, president, INFAC Group, said, “This agreement is the second achievement, following the Technical Assistance Agreement on August 12, 2019. It means that both the companies have similar goals and conviction of successful business in the Indian automotive market filled with high potential and possibilities.”
The joint venture will offer antenna products like Rod Antenna, Micro Pole Antenna, Shark Fin Antenna, LF Antenna, etc.