New Delhi, Oct. 29 -- Automotive component manufacturer Sharda Motor Industries on Wednesday announced that it has signed a Technology Licence Agreement with Donghee Industries Co., Ltd., a South Korean automotive systems supplier. The agreement aims to bolster SMIL's suspension product offerings, particularly for India's rapidly expanding SUV, electric, and premium vehicle segments.

As a part of the agreement, Donghee Industries will license its chassis and suspension technology, including control arms, torsion beams, and sub-frames, to SMIL. This strategic move is expected to enable SMIL to produce these components locally, addressing critical technology gaps in the Indian market, the company said in an official statement. The partners...