Gabriel India, an ANAND Group company, formed a strategic joint venture with South Korea’s HL Klemove. The partnership targets the autonomous driving solutions market.
Gabriel India will acquire a 30% stake (less one share) in HL Klemove India Private Limited. The company will pay approximately $98.44 million for the acquisition. This investment totals roughly Rs 935 crore.
This move diversifies Gabriel India’s portfolio into high-growth automotive technology segments. The venture will develop and sell Advanced Driver Assistance Systems (ADAS) and other automotive electronic products.