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Gabriel India shares jumped nearly 3% after the company announced a joint venture with South Korea’s SK Enmove to enter the engine oil and industrial lubricants business.
Context: Gabriel, best known for its vehicle suspension systems, is now stepping into the world of engine oils, greases, and EV fluids with a new global partner.
Meanwhile, SK Enmove is a South Korean company that makes high-performance lubricants, engine oils, and specialty fluids for vehicles and industrial machinery.
The deets: the new entity, SK Enmove Gabriel India will be a 51:49 joint venture between both the companies.
Gabriel will invest ₹29.4 crore, and the JV will manufacture and distribute engine oils, EV fluids, greases, and shock absorber oils in India. Leadership will be shared with SK Enmove appointing the Joint MD, while Gabriel will name the MD/COO, with both partners alternating the chairman role every two years.
The why: for Gabriel, this marks the first big step in its diversification plan announced earlier this year. This is a pivot from being just a suspension maker to a technology-driven mobility solutions provider.
Zoom out: India’s lubricants and industrial fluids market is booming, estimated at over ₹35,000 crore and growing at 4–5% annually, powered by rising vehicle ownership, rapid industrialisation, and the EV transition.
Global brands like Castrol, Gulf Oil, and Valvoline dominate today, but demand for EV-ready fluids and thermal solutions is opening doors for new entrants.
