MCE Holdings formalises joint venture with India’s Abhishek Group

PETALING JAYA: Automotive electronics and mechatronics solutions provider MCE Holdings Bhd, through wholly owned subsidiary MCE Ventures Sdn Bhd, has formalised a joint venture with Abhishek Electronics Manufacturing Private Limited (AEM) to develop, manufacture, and market automotive electronic parts in India.

AEM, a subsidiary of Abhishek Group, is an investment holding company with affiliates specialising in the manufacturing and trading of automotive components. Headquartered in Gurugram, Haryana, India, it boasts nearly 40 years of expertise in India’s automotive sector, starting with safety products and expanding into a diverse range of automotive accessories. The group’s established partnerships span Japan, South Korea, China, Germany and the USA.

Under the collaboration, MCE and AEM will form a joint venture company, Multi-Code Abhishek K Auto Components Pvt Ltd, to expand automotive component manufacturing capabilities in India. MCE will hold a 55% equity stake in thejoint venture and AEM the remaining 45%.

The signing of the joint venture agreement formalises the memorandum of understanding inked on

Dec 5, 2023. Both parties will work closely to develop, manufacture, and market reverse parking assistance systems, around-view monitoring, switch assemblies and power window regulators in India.

MCE group managing director Dr Goh Kar Chun said, “This joint venture exemplifies our commitment to turning strategic agreements into meaningful ventures. It provides an opportunity to bring our technological expertise and innovation to one of the world’s fastest-growing automotive markets. By leveraging AEM’s deep market insights alongside our capabilities, we are confident this partnership will broaden our reach in India and further strengthen MCE’s global footprint and export potential.”

He added that MCE’s role as a technology enabler goes beyond borders and this partnership brings Malaysia’s cutting-edge solutions to India while showcasing their technological capabilities globally.

“By combining technological know-how with insights from international collaborations, we can create a cycle of knowledge exchange and growth, driving innovation and reinforcing Malaysia’s position as an automotive hub,” said Goh.

AEM director Shreedhar Gupta said they are excited to partner with MCE, a recognised leader in automotive electronics, to enhance their ability to deliver high-quality, tailor-made solutions that meet the needs of India’s dynamic automotive market.

“Together, we aim to drive greater value for local OEMs, strengthen our market presence, and contribute to the advancement of the industry and the economy by promoting the Indian Government’s Made in India initiative.”

India’s automotive sector ranks among the largest globally, with 4,218,746 passenger vehicles sold in the 2023-2024 fiscal year, registering a year-on-year growth of 8.4%. The robust performance highlights India as a key growth market for the automotive industry.

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