GABRIEL INDIA TO BUY 30% STAKE IN HL KLEMOVE INDIA FOR Rs 948 CRORE

$GABRIEL will acquire a 30% stake in HL Klemove India from South Korea's HL Klemove for about Rs 948 crore, marking it's entry into the autonomous driving and automotive electronics business in India through a joint venture with the Korean company. The two companies will also enter into a joint venture agreement to jointly develop and manufacture autonomous driving and automotive electronics products in India. The partnership would allow it to participate in the fast-growing market for advanced vehicle technologies. Part of the Anand Group, $GABRIEL is a significant player in the automotive customer segments, including OEMs, aftermarket, and exports. The company manufactures over 500 models of ride control products, having a wide product range including shock absorbers, struts, front forks and others.