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Home » India » Continental to invest 30 million euros on new plant in Pune

Continental to invest 30 million euros on new plant in Pune

Jan 18, 2019 | Emerging Trends Advisors, India

The facility, which will be utilised for the company's powertrain business, is scheduled to begin production by early 2020.

Technology firm Continental on Thursday said it is investing approximately 30 million euros (Rs 240 crore) to set up a new manufacturing plant at Talegaon in Pune.

The facility, which will be utilised for the company's powertrain business, is scheduled to begin production by early 2020.

It will roll out products such as engine management systems, sensors and actuators as well as fuel and exhaust management components, for passenger cars, two-wheelers and commercial vehicles.

"Due to the increasing stringent emission legislation in the automotive market, including the two-wheeler market, we are expecting a growing demand of low-emission technologies," said Continental Executive Vice-President Powertrain Components Business Unit Klaus Hau.

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Through this investment, the company is expanding its involvement in the strategic important market, he added.

Continental has invested around 260 million euros (Rs 2,100 crore) in India during the ten-year period from 2008 for its various businesses. It is supporting all key automotive companies in India to transition to BS VI emission standards.

In December 2018, Continental had also announced the start of work at another facility in Pune to manufacture premium surface materials for the automotive interior, with an investment of about 22 million euros (Rs 180 crore).

The company has also recently announced an additional R&D facility in its existing automotive plant at Gurugram.

Article Source : moneycontrol

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