Auto component major Mahle Group to step up investments in India


MUMBAI: The Indian government’s push on localisation of electric and low-emission vehicles in India has seen the €12.6 billion auto component major Mahle Group committing to invest more in joint ventures (JVs), new products and plant expansion.

Mahle Group has raised its stake in former JV, Mahle Letrika Roots India, to 90% from 50%. This is part of the group’s dual strategy of expanding its position as a systems provider for alternative drive concepts along with enhancing the conventional powertrains.

Mahle will initially focus on development and production of AC/DC electric motors and control units through its unit Mahle Electric Drives India based in Coimbatore, Tamil Nadu. Production will start by April 2020.

Global CEO Jorg Stratmann told ET the harmonisation of Indian emission norms and a push on electrification offers the company a strong growth opportunity to increase its penetration in the Indian market, especially on the mechatronic business front.

Stratmann said the company believes in the future of Indian market though the current period is difficult and challenging, and the company had to adjust its capacities, but it is continuing to invest in future growth opportunities like the mechatronics.

“The biggest growth you will see is on the mechatronic front, electronic motors, controllers, drives in particular. We see good opportunity in the two- or three-wheelers markets. We have some business already today and we are going to localise this to drive business growth,” added Stratmann.

Having set up base in India almost six decades back, Mahle Group has all its businesses in India and generated about ?278 million in 2018, making up for just 2% of its overall global turnover of €12.7 billion.

The company expects the content per car to grow faster and boost its topline and bottomline with India’s push towards electrification and cleaner vehicles in the future, with premiumisation also gaining momentum.

“Our goal has been to grow faster than the market. We would want to continue to grow disproportionately in new areas of electrified powertrain, this is where our mechatronics unit is in,” he said.


Source link

Bayern Munich sack coach Niko Kovac – football

Rice yields plummet and arsenic rises in future climate-soil scenarios — ScienceDaily