Gabriel India Limited, ANAND Group’s BSE-listed flagship company, has signed a technical collaboration and alliance agreement with the $1.5 billion Dutch-based Inalfa Roof Systems (Inalfa) to manufacture sunroofs for the fast-growing Indian automotive market.
The newly formed Inalfa Gabriel Sunroof Systems Pvt. Ltd. (IGSS), which will initially be a wholly owned subsidiary of Gabriel India, will manufacture sunroofs for PVs at a new plant near Chennai that will start operations in the Q1 of CY 2024 at a projected $22 million investment.
It is intended that IGSS will be converted into a joint venture between INALFA ROOF SYSTEMS GROUP B.V, Netherlands, and Gabriel India Ltd, with Inalfa holding 51% shareholding.
The alliance will see Gabriel India Limited, a national leader in suspensions, enter a new segment that is fast garnering favour, especially with SUV and younger car buyers.
“Gabriel’s alliance with Inalfa, Netherlands known for its pioneering and high-quality roof systems, is a winner for both Gabriel and Inalfa in multiple ways. This alliance reflects ANAND’s belief of “Connected to the Ground, Open to the Sky”, which is perfectly in sync with Inalfa’s slogan of “we open up your world with every drive” said Anjali Singh, Executive Chairperson of the ANAND Group.
Speaking about the alliance, Linda Gao, CEO, Inalfa Group, said, “For Inalfa this is a great opportunity to enter into the growing automotive market in India with a well-established partner. We are looking forward to successful cooperation with Gabriel and ANAND Group and we will leverage our unique competitive advantage to the benefit of our customers in the Indian market.”
“This is the beginning of the golden age for the increasingly knowledgeable, aspirational, and discerning Indian car buyer and, therefore, Gabriel is diversifying into sunroofs to serve this new-age feature-and-cost-conscious customer through its alliance with a leading partner like Inalfa, via its strong ties with world-class OEMs. This will further strengthen Gabriel’s, and the broader ANAND Group’s, position as a trusted partner to nearly all OEMs in India,” said Manoj Kolhatkar, MD of Gabriel, and member of the ANAND Executive Board.
Industry assessments project that automotive sunroof sales in India could cross well over 7 lakh (700,000) units this calendar year against 5 lakh (500,000) units in 2022. Globally, according to industry research, the automotive sunroof market will reach $13.6 billion by 2030 with a CAGR of 9.3% between 2010 and 2030.