Joint Venture Agreement Details

Gabriel India Limited has executed a Joint Venture Agreement (JVA) with Faurecia Automotive Seating India Private Limited, a subsidiary of FORVIA. The new joint venture entity will be named Faurecia Anand Seating India Private Limited.

Ownership Structure

  • FORVIA will hold 50% plus 1 share (controlling stake)
  • Gabriel India Limited will hold 50% less 1 share
  • The joint venture will be controlled by FORVIA

Business Focus and Strategy

The joint venture will focus on:

  • Seat frames manufacturing
  • Complete seats manufacturing
  • Leveraging FORVIA's global seating expertise and technologies
  • Utilizing ANAND Group's strong local footprint and customer relationships in India
  • Access to FORVIA Seating's entire portfolio and engineering capabilities

Market Objectives

The partnership aims to:

  • Support FORVIA's Seating ambition to reach approximately 10% market share in the Indian seating market
  • Achieve this market share target within the next five years as a first growth milestone
  • Strengthen access to Indian OEMs including major automotive manufacturers
  • Enhance industrial capabilities, supply chain, and talent development

Transaction Timeline

The transaction is expected to close by the end of 2026, subject to:

  • Customary conditions
  • Applicable regulatory approvals

Management Commentary

Mr. Jaisal Singh, Vice Chairman of ANAND Group (spearheads M&A): "This partnership is a natural extension of Gabriel India's transformation into a broader mobility solutions enterprise. As vehicle systems become more integrated and technology-intensive, the ability to participate across a wider spectrum of the automotive value chain assumes strategic importance."

Mrs. Anjali Singh, Executive Chairperson of ANAND Group and Gabriel India Limited: "This venture strengthens our longstanding partnership with FORVIA, building on complementary strengths and a shared commitment to innovation. By bringing together FORVIA's global expertise and Gabriel India's strong market presence, it creates a platform that is both strategically significant and future-ready."

Martin Fischer, Chief Executive Officer of FORVIA: "When we unveiled our IGNITE strategy earlier this year, we highlighted India as a key growth driver for FORVIA. Following the award of our first complete-seat program a few months ago, today's agreement marks another important milestone in our development in the country."

Background Context

The partnership builds on a longstanding relationship between FORVIA and ANAND that began in 1991 with a successful partnership in Clean Mobility. ANAND Group is a US$2.6 billion-plus global conglomerate with 25 operating companies, including 17 joint ventures and four technical collaborations, operating across 92 locations in India, Europe and South America with over 24,500 employees.

Gabriel India Limited, established in 1961, is the flagship company of the ANAND Group and a leading automotive technology and mobility solutions provider with portfolio spanning sunroof systems, drivetrain products, NVH and Body-in-White solutions, synchroniser rings, aluminium forgings, automotive fluids and specialty lubricants.

FORVIA is a global automotive technology supplier formed by Faurecia and HELLA, employing over 137,500 people including more than 12,000 R&D engineers across 40+ countries, with 2025 consolidated revenue of €26.2 billion prior to IFRS 5.