Wheels India, Chennai-based automotive component maker, has signed a technology transfer agreement with South Korea’s SHPAC to strengthen its hydraulic cylinder business globally.

“It has been our intent to grow this segment significantly, and the SHPAC partnership gives us an edge in technology and access to markets,” said Srivats Ram, MD, Wheels India.

SHPAC is a leading Korean hydraulics manufacturer with decades of export success. The collaboration is expected to create new opportunities for Wheels India in Europe and North America, building on its existing construction equipment wheel business.

The company posted a net profit of Rs 26.44 crore in Q1 FY26 on revenues of Rs 1,187 crore, with exports exceeding Rs 300 crore. Last year, Wheels India crossed the Rs 100-crore net profit m

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