■ Signed a joint venture agreement with Gabriel India, a subsidiary of ANAND Group
■ Aims to position as a premium brand in Indian market, focusing on EV-specific premium lubricant product
SK Enmove accelerates its entry into the Indian lubricant market with a leading Indian automotive parts company.
SK Enmove has announced the establishment of a joint venture with Gabriel India Limited (GIL), a subsidiary of the renowned ANAND Group. The signing ceremony took place on October 15 at SK Seorin Building in Seoul. The new joint venture, “SK Enmove Gabriel India,” will be owned 51% by SK Enmove and 49% by Gabriel India.
Through this partnership, SK Enmove plans to expand its lubricant business in India, the world’s third-largest automotive market.
The joint venture will strengthen its sales network and focus on marketing and brand building to target the Indian market, which boasts an extensive territory and a population of over 1.4 billion – the largest in the world.
Starting from December, immediately after the establishment of the new entity, the company will introduce a wide range of products to the Indian market, including engine oils, gear oils, industrial lubricants, and EV-specific lubricants.
According to the Society of Indian Automobile Manufacturers (SIAM), as of 2024, India’s automobile industry produced 5.1 million passenger vehicles, 24.3 million two-wheelers, and 1.1 million commercial vehicles annually. The industry is expected to grow at an average annual rate of over 4% over the next five years. Urbanization, growth of working-age population, and increasing demand for eco-friendly vehicles are expected to further boost the growth of both automobile and lubricant markets.
ANAND Group currently operates 13 joint venture companies with global partners such as HL, and Dana, Forvia (formerly Faurecia), MAHLE and Henkel. The group has built a nationwide distribution network in India, along with long-standing and deep relationships with leading automotive manufacturers.
SK Enmove possesses high-quality products – such as the premium low-viscosity engine oil “ZIC”– along with its proven sales experience and technological expertise accumulated in emerging markets.
Leveraging these strengths, the two companies aim to rapidly enter the Indian market and establish a stable foundation for growth through the establishment of “SK Enmove Gabriel India”.
Anjali Singh, Executive Chairperson of Gabriel India and the ANAND Group, said, “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”
Jaisal Singh, Vice Chairman of ANAND Group, stated, “We are delighted to be partnering with SK Group, one of Korea’s largest and most respected companies. This in keeping with our group’s philosophy and we look forward to working together with SK Enmove to making our joint venture in India a valuable addition to our flagship, Gabriel India Limited.
Kim Wone-kee, CEO of SK Enmove, added, “Based on this strategic cooperation with the ANAND Group, SK Enmove will leap forward as a premium brand in the Indian lubricant market.”
[Photo 1] Kim Wone-kee, CEO of SK Enmove (right) and Mahendra K. Goyal, President and CEO of ANAND Group (left) pose for a commemorative photo after signing a joint venture agreement at SK Seorin Building in Jongno, Seoul on October 15.
[Photo 2] Kim Wone-kee, CEO of SK Enmove (8th from the left) and Mahendra K. Goyal, President and CEO of ANAND Group (9th from the left) pose for a commemorative photo after signing a joint venture agreement at SK Seorin Building in Jongno, Seoul on October 15.
