Schaeffler India, a manufacturer of automotive and industrial parts, plans to invest INR 1,500 crore in expanding its capacity over the next three years. It includes the construction of a new factory in Hosur worth INR 300 crore.
The first phase of the Hosur project will begin operating by the end of this year and will manufacture transmission components and systems for both the automotive and tractor segments. The company also aims to establish a large manufacturing facility in Savli near Vadodara, Gujarat, for its industrial business.
In 2022, Schaeffler India invested almost INR 500 crore in capex to improve its capacities. The company plans to sustain this capex for the next three years to support the growth of its export business. This will further boost its domestic automotive and industrial businesses.
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