Daewoo has entered the Indian automotive lubricant market through a licensing collaboration with Mangali Industries Limited, announced at a launch event in New Delhi on Tuesday. The partnership will introduce Daewoo's range of lubricants for two-wheelers, passenger cars, commercial and agricultural vehicles across the country.
During the ceremony at Le Méridien hotel, executives from both companies signed the official licensee certificate and unveiled the product line designed for Indian driving conditions. The lubricants aim to extend engine life and improve fuel efficiency across various vehicle categories.
"Through this alliance between Daewoo and Mangali Industries, we are shaping the future of high-performance lubricants in one of the world's most dynamic markets," said Vineet Singh, Director of Strategy and Growth at Daewoo.
Sang-hwan Oh, DGM at POSCO Korea, emphasized Daewoo's commitment to maintaining international quality standards while adapting to local consumer needs.
The move represents Daewoo's strategic expansion in India's growing automotive maintenance sector, which has seen increased competition from both international and domestic brands in recent years.
Founded in 1967, Daewoo was once one of South Korea's largest conglomerates with operations spanning automotive manufacturing, electronics, shipbuilding, and heavy machinery. Following financial difficulties in the late 1990s during the Asian financial crisis, various Daewoo businesses were restructured, with some divisions sold to other companies.
This lubricant launch marks Daewoo's attempt to leverage its brand recognition in India, where the company previously had presence in the automobile and consumer electronics segments. Industry analysts note that the lubricant sector offers lower entry barriers compared to vehicle manufacturing while providing steady revenue opportunities in India's expanding automotive market.
The product portfolio includes automotive lubricants, specialty oils, and car care products that will be manufactured and distributed by Mangali Industries, an established player in India's manufacturing sector.
India's lubricant market, valued at approximately $3.6 billion, has been growing steadily with increasing vehicle ownership and industrialization, attracting both international and domestic companies competing for market share.