Gabriel India, SK Enmove Form JV to Enter ₹40,000 Crore Lubricants and EV Fluids Market

Gabriel India Limited (GIL), the NSE-listed flagship of the $2.4 billion ANAND Group, has entered into a joint venture with SK Enmove, a subsidiary of South Korea’s SK Group, one of the country’s two largest conglomerates. The partnership marks Gabriel India’s formal entry into India’s fast-growing lubricants and EV fluids market, valued at approximately ₹40,000 crore.

The new entity, “SK Enmove Gabriel India,” will be majority-owned by SK Enmove with a 51% stake, while GIL will hold the remaining 49%. The venture includes the establishment of a greenfield manufacturing facility and the acquisition of SK Enmove’s existing Indian operations, providing immediate market access. Operations are expected to begin in December.

The JV will focus on a comprehensive product portfolio spanning engine oils, EV fluids, shock absorber oils, industrial lubricants, greases and e-thermal fluids. The move aligns with GIL’s broader diversification strategy beyond its core suspension and ride control business.

This collaboration builds on Gabriel India’s recent expansions, including joint ventures with Korea’s JINHAP for automotive fasteners and Inalfa Roof Systems for sunroofs, as well as an entry into renewables through solar dampers. The company has also expanded into the European bicycle market with its suspension products.

Leadership from both companies positioned the partnership as a strategic shift toward broader mobility solutions. Gabriel India reported consolidated revenue of ₹4,063 crore in FY 2024–25, reflecting nearly 20% year-on-year growth.

SK Enmove, a major player in energy and premium lubricants markets, expects the alliance to strengthen its presence in India’s automotive fluids sector.

The joint venture agreement was signed on October 15, 2025, at SK Enmove’s headquarters in Seoul, in the presence of senior leadership from ANAND Group and Gabriel India.

India’s automotive fluids sector is undergoing a significant transformation, driven by rising vehicle ownership, stricter emission norms, and the growing adoption of electric mobility. Valued at around ₹40,000 crore, the market includes engine oils, transmission fluids, greases, industrial lubricants, coolants, e-thermal fluids and specialized EV fluids.

Demand is being shaped by both OEM partnerships and a vast aftermarket network serving passenger vehicles, two-wheelers, commercial vehicles and off-highway equipment. As EV penetration increases, the product mix is shifting from traditional lubricants toward advanced thermal management and low-viscosity fluids. Global and domestic players are expanding capacity, forming joint ventures and localizing technology to capture long-term growth.