<a href="https://www.mid-day.com/business/business-news/article/gabriel-india-to-acquire-promoter-stake-in-jv-with-south-koreas-hl-mando-corp-for-rs-2231-crore-23641026" target="_blank" rel="none noopener">Auto components maker Gabriel India</a>, the flagship brand of USD 2.2 billion firm ANAND Group, said it has entered into a joint venture partnership with South Korea&rsquo;s HL Klemove for autonomous driving technology.
Autonomous driving refers to a technology that allows vehicles to navigate or steer without human intervention.
"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,&rdquo; the company said in a regulatory filing.
"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. With this joint venture company, 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.
<h2>The joint venture agreement</h2>
Under the <a href="https://www.mid-day.com/mumbai/mumbai-news/article/cidco-appoints-rites-creative-jv-to-study-third-runway-at-navi-mumbai-airport-23625887" target="_blank" rel="none noopener">joint venture</a> agreement, Gabriel India will become a strategic shareholder in HL Klemove India Private Limited.&nbsp;
Gabriel India will acquire a 30 per cent less one share stake in HL Klemove India for USD 98.44 million or approximately Rs 935 crore, it said.
Gabriel India, through HL Klemove India, develop, manufacture, and sell, &nbsp;a range of advanced mobility solutions, including radar, front cameras, lidar, automated driving and parking control units, with embedded ADAS software, as well as automotive electronics products such as brake ECUs, steering ECUs, chassis control units and torque sensors.
Over the last few years, Gabriel India has been steadily diversifying its portfolio through strategic joint ventures in high-growth segments such as sunroofs, lubricants, EV fluids and precision fasteners. With the current joint venture partnership, it expects to enhance its competitive position and expand its presence in a segment central to the future of mobility.
<h2>Company's comments on the deal</h2>
According to Anjali Singh, Executive Chairperson of ANAND Group and Gabriel India, "Bolstering our position across critical automotive systems while expanding our participation in future-oriented mobility and automotive technology segments, this new JV for <a href="https://www.mid-day.com/news/world-news/article/swedish-firm-operates-self-driving-electric-truck-in-europe-23595329" target="_blank" rel="none noopener">autonomous driving</a> 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&amp;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.
On the joint venture Mahendra K Goyal, Group Chief Executive Officer of ANAND and Managing Director of Gabriel India, said &ldquo;Beyond unlocking new opportunities for growth, this collaboration will foster deeper OEM engagement, expand our participation in future mobility solutions and create enduring value for all stakeholders."
The shares of Gabriel India were trading at Rs 1355.95 per share, an increase of 0.72 per cent from the previous close on the Bombay stock Exchange (BSE).

The company will acquire a 30 per cent minus one share stake in HL Klemove India for approximately Rs 935 crore

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Gabriel India will acquire a 30 per cent less one share stake in HL Klemove India for USD 98.44 million or approximately Rs 935 crore

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

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Home / Business / Business News / Article / Gabriel India enters into JV with South Korea's HL Klemove for autonomous driving technology