Magneti Marelli to increase reach in Indian auto market in next 4 years
Magneti Marelli, a global company well versed with design and production of hi-tech systems and components for the automotive sector is expanding their reach in…
Magneti Marelli, a global company well versed with design and production of hi-tech systems and components for the automotive sector is expanding their reach in the Indian auto markets. The company based in Corbetta, Milan with a presence in 16 countries across the globe is supplier to leading auto manufacturers in Europe, North and South America and Asia.
In India, the company is looking to increase their revenues to over Rs.3000 crores in the coming four years while they plan on bringing in their latest technologies. Besides this, Magneti Marelli is also planning on entering into a joint venture for the manufacture of two wheeler fuel injection systems, a decision which would take a further 2 to 3 months to finalize.
Further expansion plans also include investment of Rs.100 crores in augmentation of production capacities, increase of export of components manufactured in India to automakers in global markets thus showcasing that India is emerging as a major market for the company. Shock absorbers produced by the company at their plant in Pune re the first to be shipped to Europe which will soon be followed by exports to other countries as well.
By introduction of these new technologies in the two and four wheeler segments, Magneti Marelli will bring about a sea change where auto emission is concerned. A new regulation is in the offing and the company is banking on their new technologies and joint venture manufacture of fuel injection systems with this new development in mind.