MCNEX, a corporation that manufactures smartphone and automobile parts, has established a local subsidiary in India, the world's third-largest automobile market, and is pursuing a global expansion strategy in the electronic components business.
On the 29th, MCNEX announced that it will establish a local subsidiary named 'MCNEX INDIA' in Sri City, a strategic industrial complex in Andhra Pradesh, India. Over the next 3 to 4 years, MCNEX plans to invest approximately 25 billion won to build a manufacturing and research and development (R&D) hub for electronic components and systems on a site spanning 52,892 square meters (about 16,000 pyeong). The company aims to enhance its production system gradually, targeting full-scale mass production in the first quarter of 2027.
Sri City is a strategic industrial complex located near Chennai, where global automobile manufacturers such as Hyundai, Stellantis, Ford, BMW, and Daimler operate production bases, making it possible to establish close supply chain links with these corporations. The Indian automobile market has become the third-largest production and sales market in the world and is rapidly emerging as a key market in the global mobility industry.
Through the establishment of its Indian subsidiary, MCNEX plans to strengthen collaborations with global OEM companies and expand partnerships with European corporations that have production bases in India, accelerating its entry into the European market. Currently, MCNEX is in initial order discussions with major global automobile manufacturers and local electronic component firms in India, with a policy to progressively complete its supply cooperation system.
In particular, the MCNEX India subsidiary is expected to operate as a strategic base specialized in the production of core components for future vehicles, including advanced driver-assistance systems (ADAS) and electronic components and systems for autonomous driving, vehicle battery management systems (BMS), and vehicle semiconductor packaging (SIP), going beyond just a simple manufacturing facility.
Furthermore, establishing the Indian subsidiary is expected to further strengthen the global division of labor system with MCNEX's existing Vietnamese subsidiary. This will allow for the diversification of production bases in the electronic components business, securing both supply chain stability and production efficiency.
An official from MCNEX noted, "We plan to strengthen collaboration with Hyundai and Kia's Indian subsidiaries, which have achieved over 20% market share, and expand our capabilities to proactively respond to customer-specific technology demands. We will focus on internalizing electronic technologies for high-growth sectors such as autonomous driving and electric vehicles to achieve mid- to long-term profitability and enhance corporate value."