Gabriel India forms JV with South Korea's HL Klemove for autonomous driving technology

New Delhi: Auto components maker Gabriel India Ltd on Wednesday said it has entered into a joint venture with South Korea-based HL Klemove to expand presence in the growing demand for autonomous driving solutions, including advanced driver assistance systems and automotive electronic products.

Under the joint venture, Gabriel India, the flagship firm of the USD 2.2 billion auto components manufacturer ANAND Group, will become a strategic shareholder in HL Klemove India Pvt Ltd, the company said in a statement.

To form the joint venture, Gabriel India Ltd will acquire a 30 per cent less one share stake in HL Klemove India for USD 98.44 million (approximately Rs 935 crore), it added.


"The partnership marks a significant step in Gabriel India's strategy to expand its presence across high-growth automotive segments and participate in the growing demand for autonomous driving solutions, including Advanced Driver Assistance Systems (ADAS), and automotive electronic products through this joint venture," it added.

Commenting on the JV, ANAND Group and Gabriel India Ltd Executive Chairperson Anjali Singh said, "Bolstering our position across critical automotive systems while expanding our participation in future-oriented mobility and automotive technology segments, this new JV for autonomous driving and automotive electronics marks an important inflection point, enabling Gabriel India to further diversify its portfolio and strengthen its participation in emerging mobility segments."

ANAND Group Vice Chairman Jaisal Singh, who spearheads the group's M&A said as a key growth engine of the group, Gabriel India is focused on building scale, enhancing competitiveness, and broadening its presence across high-growth automotive segments.

"Our latest joint venture with HL Klemove represents a strategic step forward in this endeavour," he added.

As India's automotive industry advances toward smarter and safer mobility, autonomous driving and automotive electronics technologies are becoming increasingly important, the company said.

HL Klemove is amongst a select group of companies globally with established development and manufacturing capabilities in autonomous driving technologies, including ADAS and automotive electronic technologies.

Through the joint venture, Gabriel India will participate in this high-growth segment, enabling deeper engagement with automakers and broadening its presence in an evolving mobility landscape, it added.