Uno Minda Signs Agreement with Aisin Corporation for Sunroof Manufacturing

Uno Minda Limited (formerly Minda Industries Limited), a leading supplier of automotive systems, has signed a Technical License Agreement (TLA) with Aisin Corporation, Japan. This agreement allows Uno Minda to manufacture and sell sunroofs.

Established in 1965, Aisin is a global supplier of automotive components and technologies, with consolidated sales of 4,910 billion JPY for FY 24. A Fortune Global 500 company, Aisin is ranked among the top 10 global Tier-1 automotive suppliers and holds Japan’s largest market share for sunroofs.

Sunroofs, once a luxury feature for high-end cars, are now becoming common in India’s automotive market, even appearing in hatchbacks. Over the past 5 years, sunroof penetration in new cars sold in India has increased fivefold, with one in five new cars now featuring a sunroof. This trend is driven by rising disposable incomes, economic growth, and India’s large population, indicating that the demand for sunroofs will continue to rise.

Mr Nirmal K Minda, CMD, Uno Minda Group, said, “Driven by technological innovation and evolving consumer demands, the Indian automotive sector has seen impressive growth. In this dynamic landscape, sunroofs have emerged as a particularly noteworthy trend. Uno Minda, steadfast in its commitment to introducing cutting-edge technologies, is thrilled to partner with Aisin Corporation to provide a diverse range of sunroofs in India. Through the synergy of our combined expertise and production capabilities, we aim to establish ourselves as a frontrunner in the burgeoning sunroof market. ”

About Uno Minda Limited

Uno Minda Limited, previously known as Minda Industries Limited and established in 1958, is a top global Tier-1 manufacturer and supplier of innovative automotive solutions for original equipment manufacturers (OEMs). They design and produce over 20 types of vehicle components and systems, including passenger cars, commercial vehicles, and two- and three-wheelers, catering to internal combustion engines (ICE) and electric/hybrid vehicles. Uno Minda is a leading manufacturer in various categories, including automotive switching systems, lighting systems, acoustics systems, seating systems, and alloy wheels.

On August 01, 2024, Uno Minda Limited’s share price opened at ₹1,049.90, touching the day’s low at ₹1,020.10, as of 01:42 PM on the NSE.

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