SK Enmove Partners with India's Anand Group to Target Lubricant Market

Full-scale Entry into India's Automobile Market, the World's Third Largest
Establishment of Joint Venture "SK Enmove Gabriel India"
Expansion with Local Partner, Leveraging the "ZIC" Brand

SK Enmove is joining forces with Anand Group, a leading Indian automotive parts company, to target the Indian lubricant market.

On October 16, SK Enmove announced that it had signed a joint venture establishment contract with Gabriel India Limited, an affiliate of Anand Group, at the SK Seorin Building in Jongno-gu, Seoul, on the previous day, October 15. The new entity will be named "SK Enmove Gabriel India," with SK Enmove holding a 51% stake and Gabriel India holding 49%.

Kim Wonki, President of SK Enmove (right), and Mahendra Goyal, President and CEO of Anand Group, are taking a commemorative photo after signing a joint venture establishment contract on the 15th at the SK Seorin Building in Jongno-gu, Seoul. SK Innovation

Through this joint venture, SK Enmove plans to significantly expand its lubricant business in India, the world's third-largest automobile market. The two companies will leverage their nationwide sales networks to enhance brand competitiveness and pursue a market entry strategy focused on premium products.

The new joint venture is scheduled to officially launch in December and will introduce a variety of products to the local market, including engine oil, gear oil, industrial lubricants, and lubricants specifically for electric vehicles. In particular, to respond to the expected growth in lubricant demand driven by urbanization and the spread of eco-friendly vehicles, the product portfolio will focus on high-efficiency, low-viscosity products.

According to the Society of Indian Automobile Manufacturers (SIAM), as of 2024, the Indian automobile industry produced 5.1 million passenger cars, 24.3 million two-wheelers, and 1.1 million commercial vehicles. The industry is expected to grow at an average annual rate of over 4% over the next five years, which is anticipated to drive an increase in lubricant demand as well.

Anand Group operates 13 joint ventures with global companies such as HL Holdings and Henkel, and has an extensive distribution network across India as well as experience collaborating with major automakers. SK Enmove plans to rapidly increase brand recognition in the local market by leveraging its technological strength, represented by its premium lubricant brand "ZIC," and its sales experience in emerging markets.

Anjali Singh, CEO of Gabriel India and Anand Group, stated, "The combination of Gabriel India's nationwide distribution network and market experience in India with SK Enmove's advanced lubricant technology will enable rapid market expansion."

Kim Wonki, President of SK Enmove, said, "Through our strategic partnership with Anand Group, we aim to establish ourselves as a premium brand in the Indian market and further strengthen the global growth axis of our lubricant business."

This content was produced with the assistance of AI translation services.