SIAM signs MoU with Korea's KAMA for cooperation in automotive industry

The pact between the two bodies aims for cooperation and support in promoting a sustainable, safe, clean, affordable and efficient automobile industry
...
Photo courtesy: Twitter/@siamindia
Photo courtesy: Twitter/@siamindia

Auto industry body SIAM on Wednesday said it has signed a pact with Korea Automobile Manufacturers Association (KAMA) for cooperation and support in promoting a sustainable, safe, clean, affordable and efficient automobile industry.

An MoU to this effect was signed between Society of Indian Automobile Manufacturers (SIAM) and KAMA during an event in Mumbai, SIAM said in a statement.

The two organisations will set up regular information exchange mechanism to maintain their cooperative dialogues and deliberate on issues on the subjects of their common interests, it added.

Also check these Vehicles

Find more Cars
Indian Vintage (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon14.0 kmpl
₹ 21.79 - 25.32 Lakhs
Alert Me When Launched
Indian Challenger (HT Auto photo)
Engine Icon1768 cc Mileage Icon18 kmpl
₹ 36.97 - 39.99 Lakhs
Compare
View Offers
Indian Springfield (HT Auto photo)
Engine Icon1890 cc Mileage Icon20 kmpl
₹ 30.87 - 33.05 Lakhs
Compare
View Offers
Indian Chief (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon14.0 kmpl
₹ 21.30 Lakhs
Alert Me When Launched
Indian Chieftain (HT Auto photo)
UPCOMING
Engine Icon1811.0 cc Mileage Icon20.0 kmpl
₹ 32.01 Lakhs
Alert Me When Launched
Indian Ftr (HT Auto photo)
MaxSpeed Icon200 kmph
₹ 19.38 - 22.03 Lakhs
Compare
View Offers

Commenting on the partnership, SIAM President Rajan Wadhera said in context of the auto sector, ties between India and South Korea can be traced back to 1996, when Hyundai Motors entered the Indian market.

Indian manufacturers, like Tata Group and Mahindra & Mahindra, have made significant investment in Korea's auto industry till date, he added.

Wadhera further said Since 2000, these companies have invested USD 3.8 billion in India across various sectors such as electronics, automobiles, metallurgy, earth movers. Recently, Kia Motors has entered India.

"The success of these ventures is a reflection of the strong ties between both the countries and associations. We hope that this MoU will benefit both the organisations in facilitating further collaboration in areas of technology advancements, and research and development in the automotive sector," he said.

KAMA President & CEO Jeong Marn-Ki hoped that the MoU would work as a catalyst to strengthen the ties so that "we can enjoy mutual benefits, constantly increasing investment and trade between both the countries".

The MoU was signed on the occasion of Organisation Internationale des Constructeurs d'Automobiles (OICA) general assembly meeting in Mumbai.

OICA comprises 39 countries' automotive industry trade associations.

Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape.

First Published Date: 27 Nov 2019, 14:45 PM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city
Select a dealer

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.