SEOUL, Oct. 16 (Yonhap) — SK Enmove Co., the lubricant-making unit of SK Innovation Co., said Thursday it will establish a joint venture (JV) with an Indian company in December to expand into the Indian lubricant market.
SK Enmove and Gabriel India Ltd., an affiliate of Indian automotive components maker Anand Group, have signed an agreement to form a 51:49 JV for joint marketing and brand development in India, the company said in a press release.
SK Enmove plans to introduce its product lineup — ranging from engine oil and industrial lubricants to specialized lubricants for electric vehicles (EVs) — in the world’s third-largest automobile market through Gabriel India’s sales networks, it said.
India’s annual passenger vehicle production reached 5.1 million units in 2024, while two-wheelers and commercial vehicles recorded 24.3 million and 1.1 million units, respectively, according to the Society of Indian Automobile Manufacturers (SIAM).
SIAM expects India’s vehicle market to grow by an average of over 4 percent annually over the next five years in the world’s most populous country, with a population of 1.42 billion.
This photo, taken Oct. 15, 2025, and provided by SK Enmove Co., shows the company’s Chief Executive Officer (CEO) and President Kim Wone-kee (R) and Anand Group CEO Mahendra Goyal posing for a photo after signing an agreement to set up a joint venture for the lubricant business in India at SK Group’s headquarters in Seoul. (PHOTO NOT FOR SALE) (Yonhap)
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