New automotive lubricants joint venture to be established by the end of 2025.
SK Enmove Company, the lubricants unit of South Korea’s SK Group, has agreed to establish a joint venture with Gabriel India Limited, an automotive components subsidiary of India’s Anand Group, as it looks to expand its business in the world’s third-largest new vehicle market.
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The two companies have agreed to establish SK Enmove Gabriel India Ltd, with SK Enmove owning 51% of the equity and Gabriel India owning the remaining 49%. The new company is scheduled to become operational by the end of the year, with the aim of positioning itself as a premium lubricants brand in the Indian market. It will focus on supplying oils for automotive engines and gearboxes, industrial machinery, and premium lubricants specifically developed for electric vehicles (EVs).
SK Enmove pointed out that the Anand Group currently operates 13 joint ventures with global automotive companies, including Dana, Forvia (formerly Faurecia), Mahle and Henkel, and has extensive aftermarket distribution networks in India, as well as strong, long-standing relationships with leading automotive manufacturers. Gabriel India is a producer of automotive suspension systems and chassis components.
SK Enmove said it will make available premium products such as its ‘ZIC’ low-viscosity engine oil, as well as its proven sales experience and technological expertise.
Anjali Singh, executive chairman of Gabriel India and of the Anand Group, said in a statement: “With Gabriel India’s extensive distribution network, deep customer relationships, and experience in the Indian market, and SK Enmove’s excellent lubricant technology, we expect to quickly expand our presence in the lubricant space.”
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By GlobalDataJaisal Singh, vice chairman of the Anand Group, added: “We are delighted to be partnering with SK Group, one of South Korea’s largest and most respected companies. We look forward to working together with SK Enmove to make our joint venture in India a valuable addition to our flagship Gabriel India Ltd.”
SK Enmove’s CEO, Kim Wone-kee, said: “Based on this strategic cooperation with the Anand Group, SK Enmove will leap forward as a premium brand in the Indian lubricant market.”
