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German auto electronics firm to invest $26 Mn in India
Saturday, 12 January 2008, 17:29 IST
New Delhi: Hanover-based Continental AG will invest $26 million (
1 billion) to build a state-of-the-art automotive electronics plant in Bangalore to add to the six it already operates in the country.
"In the next decade, one of the main focuses of the automotive industry will be what are known as affordable cars (in the 500,000 category), especially in growth markets like India and China. To cope with this demand, we have to focus on solutions for the Indian market," Markus Distelhoff, managing director of the company's India operations, said.
"We aim to translate our extensive expertise in vehicle technology into low-cost and affordable components and systems tailored for the Indian market. Our engineers in India are working on solutions that are optimised for the Indian market," Distelhoff told IANS at the ongoing Auto Expo 2008 here.
"Localisation also significantly reduces development and production costs and reduces the response time," he added.
According to Distelhoff, the company was "growing aggressively" and was targeting 60 percent compounded annual growth rate by 2012, even as he declined to reveal the value of the company's India operations.
With its 11.4 billion euro ($16.7 billion) buyout of Siemens VDO last year and sales of 25 billion euro (in 2006), Continental is one of the top five automotive suppliers worldwide.
The company supplies brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers.
The company has manufacturing units in Bangalore, Gurgaon, Kolkata, Manesar, Pune and Sonepat. In addition it has two research and development centres at Bangalore engaged in product engineering and one in Chennai engaged in software engineering.
The company employs 2,000 people in India out of a global workforce of 140,000. It has 200 manufacturing facilities spread across 36 locations worldwide.
Speaking about its India operations, Distelhoff said the focus would be on "managing and integrating" its Seimens arm even as it was "open" to other acquisitions.
"With the Indian emission norms getting stricter, the automobiles of tomorrow will have more and more electronics built into them. This makes us ideally placed to offer value addition to the Indian automotive market," he stated.
According to the official, the company's philosophy is to "not only offer customers a product but also comprehensive solutions, including integration".
"To accomplish this, innovative products and modules are selected from a standard set of components and adapted specifically to customer needs," Distelhoff added.
Source: IANS
1 billion) to build a state-of-the-art automotive electronics plant in Bangalore to add to the six it already operates in the country.
"In the next decade, one of the main focuses of the automotive industry will be what are known as affordable cars (in the 500,000 category), especially in growth markets like India and China. To cope with this demand, we have to focus on solutions for the Indian market," Markus Distelhoff, managing director of the company's India operations, said.
"We aim to translate our extensive expertise in vehicle technology into low-cost and affordable components and systems tailored for the Indian market. Our engineers in India are working on solutions that are optimised for the Indian market," Distelhoff told IANS at the ongoing Auto Expo 2008 here.
"Localisation also significantly reduces development and production costs and reduces the response time," he added.
According to Distelhoff, the company was "growing aggressively" and was targeting 60 percent compounded annual growth rate by 2012, even as he declined to reveal the value of the company's India operations.
With its 11.4 billion euro ($16.7 billion) buyout of Siemens VDO last year and sales of 25 billion euro (in 2006), Continental is one of the top five automotive suppliers worldwide.
The company supplies brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers.
The company has manufacturing units in Bangalore, Gurgaon, Kolkata, Manesar, Pune and Sonepat. In addition it has two research and development centres at Bangalore engaged in product engineering and one in Chennai engaged in software engineering.
The company employs 2,000 people in India out of a global workforce of 140,000. It has 200 manufacturing facilities spread across 36 locations worldwide.
Speaking about its India operations, Distelhoff said the focus would be on "managing and integrating" its Seimens arm even as it was "open" to other acquisitions.
"With the Indian emission norms getting stricter, the automobiles of tomorrow will have more and more electronics built into them. This makes us ideally placed to offer value addition to the Indian automotive market," he stated.
According to the official, the company's philosophy is to "not only offer customers a product but also comprehensive solutions, including integration".
"To accomplish this, innovative products and modules are selected from a standard set of components and adapted specifically to customer needs," Distelhoff added.
Source: IANS