Inteva Products, a leading automotive supplier, is gearing up for a major expansion at its Chakan plant in India. The plant currently produces a variety of automotive components for top Indian automakers like Tata Motors, Mahindra & Mahindra, and Hyundai. With plans to add new assembly lines, the company aims to increase its production capacity for window regulators to 6.3 million units. Additionally, they plan to boost capacity for motors for window regulators to 9.6 million units and side door latches to 4.6 million units.
Inteva Products President and CEO Gerard Roose expressed the company’s commitment to the Indian market, stating that India is an important market for them. He hinted at the possibility of establishing a second facility in India, as the current Pune facility is nearing its maximum capacity. The new facility could be located in western India or in the south, where there is a high concentration of automotive companies. Plans are also underway to expand the headcount at Inteva’s Indian Technology Centre in Bengaluru.
The company’s Managing Director, Mr. Kataria, shared that they anticipate closing the fiscal year with a topline revenue of $59 million, up from $49 million last year. Their goal is to reach ₹1,000 crore in revenue over the next 4-5 years, which may involve setting up a new plant depending on the growth of the automotive sector and customer orders. Inteva Products is clearly making strategic moves to solidify its presence and growth in the Indian market.
Thanks For Reading Report of Punepress.com