Gabriel India diversifies beyond ride control products via JV with SK Enmove

Auto components major Gabriel India, part of the Anand Group, on Thursday announced a strategic joint venture (JV) with South Korea’s SK Enmove, marking a major step in the company’s transformation from a suspension specialist to a diversified automotive systems and components player. The JV, named SK Enmove Gabriel India, will see SK Enmove hold a 51% stake, while Gabriel India holds 49%.

Gabriel India, founded in 1961, is a leading manufacturer of ride control products such as shock absorbers and struts for passenger and commercial vehicles, with a reported consolidated revenue of Rs 4,063 crore in FY 2024-25.

SK Enmove, a subsidiary of South Korea’s SK Group, one of the nation’s largest conglomerates with over USD 250 billion in assets is a global player in automotive fluids and lubricants, known for its high-quality products and technological expertise.

The partnership aims to expand Gabriel India’s product portfolio to include engine oils, EV fluids, shock absorber oils, industrial lubricants, greases, and e-thermal fluids, positioning the company to enter India’s rapidly growing Rs 40,000 crore lubricants and EV fluids market, which is expected to grow steadily with rising vehicle and electric vehicle (EV) adoption.

“Gabriel India stands at the threshold of a historic transformation from a leader in world-class suspensions to an emerging automotive systems and components powerhouse with a rapidly expanding portfolio across multiple segments of the mobility ecosystem,” said Anjali Singh, Executive Chairperson of Anand Group.

Kim Wone-kee, CEO of SK Enmove, noted that the strategic cooperation with Anand Group will enable SK Enmove to become a leading brand in the Indian lubricant market.

Impact on India: The JV is expected to bolster India’s automotive ecosystem by increasing local production of high-quality lubricants and EV-specific fluids, reducing dependence on imports. It also supports the country’s EV adoption goals by providing critical infrastructure for electric mobility and is likely to generate employment opportunities in manufacturing, distribution, and allied sectors.

Market Outlook: India’s automotive lubricants and EV fluids sector is poised for accelerated expansion, driven by rising vehicle ownership, the government’s push for clean energy mobility, and growing EV adoption. Industry analysts see the entry of global players like SK Enmove, in partnership with local leaders such as Gabriel India, as a catalyst for technology transfer, innovation, and competitive pricing, benefiting consumers and strengthening India’s role in the global automotive supply chain.