Sundaram Finance Holdings Limited (SFHL), a company having investments in several TVS group entities, has entered a strategic partnership with MIND S.r.l. (MIND).
The TVS group has a broad range of investments in automotive ancillary companies and global revenues in excess of USD 7 Billion. SFHL has acquired a minority stake in order to support the expansion of MIND in the rapidly growing composite materials space.
Globally, as automakers look for solutions to lightweight their vehicles, they are increasingly turning to high-strength materials such as composites. While the use of composites has been extensive in motorsport and luxury vehicles, there is an increasing trend to leverage these materials in mass production and electric vehicles due to the benefits in energy-efficiency. This strategic investment in MIND would enable SFHL to facilitate the sharing of manufacturing excellence, systems and automation, together with MIND’s composite manufacturing expertise.
According to director Srivats Ram, "The partnership with MIND is the first step for our group to enter the composites industry at a time when weight reduction is becoming increasingly important in all automotive and industrial sectors”. Globally, as car manufacturers seek solutions to lighten their vehicles, they are increasingly turning to high-strength materials such as composites.
Composites are widely used in motorsport and luxury vehicles and there is a growing trend to exploit these materials in mass production and electric vehicles due to the weight and thus energy efficiency advantages.
According to Francesco Varrasi, CEO of Mind, "the presence of an industrial partner of great strength and with important projects will allow us to continue the investment path we have undertaken for the development of new technologies and the improvement of services to our customers, and a particular importance in a year of great uncertainty for the whole sector ".