SK Enmove today signed a joint venture agreement with Gabriel India, a subsidiary of Anand Group, to establish ‘SK Enmove Gabriel India.’ The agreement was signed on October 15 at SK Seorin Building in Seoul, with SK Enmove holding a 51% stake and Gabriel India 49%.
The new venture marks SK Enmove’s strategic entry into India, the world’s third-largest automobile market, as part of its efforts to expand its lubricant business globally.
Scheduled for establishment by December, the company will offer a comprehensive range of products, including engine oils, gear oils, industrial lubricants, and specialized lubricants for electric vehicles.
According to the Society of Indian Automobile Manufacturers (SIAM), India’s automotive industry produces 5.1 million passenger vehicles, 24.3 million two-wheelers, and 1.1 million commercial vehicles annually, with a projected annual growth rate exceeding 4% over the next five years.
Rising urbanization, a growing young population, and demand for eco-friendly vehicles are expected to further boost both the automotive and lubricant markets.
Anand Group, which operates 13 joint ventures with international partners such as HL Holdings and Henkel, brings extensive distribution networks and strong relationships with major automakers across India.
SK Enmove contributes advanced technology, global sales experience, and premium product expertise, including its low-viscosity engine oil brand ‘ZIC.’
Together, the companies aim to quickly establish a strong presence in the Indian lubricant market, focusing on the premium segment and long-term brand growth.
“Based on this strategic partnership with Anand Group, we aim to become a leading premium brand in the Indian lubricant market,” said SK Enmove CEO Kim Won-kee.
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