Schaeffler expects to grow at a much faster clip, with the market shifting to advanced BS VI norms, and new safety measures being introduced in the next couple of years. The firm is investing double of what it did annually in the past, as it seeks to get a larger foothold in the Indian market.
The German group wants to have a deeper engagement with car makers with BS VI solutions for the Indian market, and has engaged in discussions with car makers for their global hybrid and electric vehicle solutions for the Indian market.
The new factory in Pune will cater to existing demands of engine, transmission and chassis components, including the BS VI requirements.
Georg FW Schaeffler, chairman of the supervisory board at Schaeffler AG, had in fact travelled to India to inaugurate the first plant under the merged (Ina and LuK) entitiy under Schaeffler India to speed up growth plans.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.