Gabriel India, SK Enmove Form JV to Tap Lubricants Market

Automotive component manufacturer Gabriel India disclosed today that it has established a joint venture in lubricants and engine oils with South Korea's SK Enmove. This represents an important development in Gabriel India's evolution from being a ride control specialist to being a multi-system and components company in the automotive realm.

The new company, SK Enmove Gabriel India, will manufacture and distribute a complete range of products, including engine lubricants, EV fluids, shock absorber oils, industrial lubricants, greases, and e-thermal fluids. Under the terms of the agreement, SK Enmove will hold 51% of the joint venture and Gabriel India will hold the remaining 49%.

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"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," Anand Group Executive Chairperson Anjali Singh said.

The partnership capitalizes on an opportunity for the company in one of the fastest growing lubricant and EV fluid markets in India, estimated at ₹40,000 crore, and expected to grow steadily with the increase in vehicle and EV adoption. This also aligns itself with Gabriel India's strategy to increase its footprint in new-age mobility solutions and enhance its participation in the evolving automotive ecosystem.

Kim Wone-kee, the CEO of SK Enmove, stated that this collaboration with Anand Group (Gabriel India’s parent) would allow SK Enmove to become a key player in the Indian lubricant market. SK Enmove is part of South Korea’s SK Group, which is one of the largest conglomerates in the country, with an asset amount of over USD 250 billion.