Gabriel India to buy stake in HL Klemove India for Rs 935 crore
Gabriel India Ltd, the listed flagship of auto-component maker ANAND Group, will acquire a 30 per cent less one share stake in HL Klemove India Pvt Ltd for $98.44 million, or about Rs 935 crore, as it expands into advanced driver-assistance systems (ADAS) and automotive electronics. The investment will be made through a strategic joint venture with South Korea-based HL Klemove, a developer and manufacturer of autonomous-driving technologies and automotive electronic products. Gabriel India said the partnership would position it in a fast-growing segment as Indian vehicle makers increasingly adopt safety, connectivity and automated-driving features.
HL Klemove India will develop, manufacture and sell products including radars, front cameras, lidar systems, automated-driving and parking control units with embedded ADAS software. Its automotive-electronics portfolio will include brake and steering electronic control units, chassis-control units and torque sensors. Jaisal Singh, vice-chairman of ANAND Group, said the venture was part of Gabriel India’s plan to build scale, improve competitiveness and widen its presence in high-growth automotive segments.
Anjali Singh, executive chairperson of ANAND Group and Gabriel India, said the partnership would help diversify the company’s product portfolio while strengthening its role in emerging mobility technologies. Gabriel India has been broadening beyond its established automotive-component operations through joint ventures in segments such as sunroofs, lubricants, EV fluids and precision fasteners. The HL Klemove partnership adds ADAS and electronics capabilities to that strategy, potentially enabling closer engagement with vehicle manufacturers as demand rises for safer and more software-defined vehicles.
