Germany’s Continental to invest Rs 240-cr in powertrain plant in Pune
The plant will produce various drivetrain products including engine management systems, sensors and actuators as well as fuel and exhaust management components
Pune; January 17, 2019
The German technology company Continental will invest around Euro 30 million (Rs 240 crores) in greenfield plant in Talegaon (Pune) for its powertrain business. The company today conducted groundbreaking ceremony for greenfield plant. Production is scheduled to start early 2020 for various drivetrain products including engine management systems, sensors and actuators as well as fuel and exhaust management components, for passenger cars, 2-wheelers and commercial vehicles.
During the groundbreaking ceremony, Klaus Hau, Executive Vice President Powertrain Components Business Unit, Powertrain, said, “India plays a central role in our global growth strategy. Due to the increasing stringent emission legislation in the automotive market, including two-wheeler market, we are expecting a growing demand of low-emission technologies. Through this investment, we are expanding our involvement in this strategic important market, thereby ensuring that we will better satisfy the customers’ growing demand.”
The Powertrain group of Continental offers efficiency solutions for the conventional combustion engine, the exhaust after treatment as well as for the broad field of vehicle electrification.
Prashanth Doreswamy, Market Head, Continental India and Managing Director, Continental Automotive India, commented, “This investment reinforces our commitment to the Indian market. Continental has been growing ahead of the market in India. To continue doing so, we need to invest both in technologies of tomorrow, and expand our reach in the market. With this investment in our Powertrain business, Continental will better support India’s drive for cleaner air.”
Continental has invested approximately Euro 260 million (Rs 2100 crores) in India during the ten-year period from 2008 for its various businesses. The company is supporting all key automotive customers in India transition to BS VI emission standards. They continue to make investments in enhancing combustion engines and electro-mobility.
In 2018, the technology company Continental announced investments in India, on a high three-digit crore rupees level until 2020, and a plan to increase headcount to 10,000 in the same period. In December 2018, Continental had also announced the groundbreaking of another greenfield facility in Pune to manufacture premium surface materials for the automotive interior, with an investment of about Euro 22 million (Rs 180 crores). The company also recently announced an additional R&D facility in its existing automotive plant in Gurgaon.