Schaeffler plans to spend EUR150m setting up a new plant and expanding existing factories in India.
“India has been our high priority market and we have [been present here] for nearly 50 years. All three Schaeffler brands, INA, LuK and FAG, are well-established,” said local president Anil Shah.
Go deeper with GlobalData
“We are very well prepared and are planning further activities so that we not only share in growth but also actively shape the market. We are planning to expand existing plants at Pune, Hosur and Vadodara and construct an additional location at Savli (Gujarat) which will manufacture low friction ball bearings and bearings for renewable energy.”
Customers include Maruti Suzuki, Hyundai and Mahindra plus various commercial vehicle and two-wheeler makers.
Schaeffler will also double engineering resources in two years.
“To support our growth, we will be recruiting over 1,200 employees over the next three to four years and a large number of the new recruits will be trained to high level of competence in application, product design and R&D,” Shah said.
Schaeffler currently employs around 2,300 in India and sales here account for 5% of the global tally.
