Conti Launches Indian Electronics Hub, Considers Manufacturing Unit
Continental has launched an electronic components manufacturing plant in India’s IT hub. The production line will cater to the needs of the expanding auto-market on the subcontinent. The facility, which is located in a greenbelt location in Bangalore, is a high-tech venture including a research and development wing, costing the company in the vicinity of 2.2 billion rupees.
Speaking to journalists at the launch, Jay Kunkel – President Asia for the company – said that the firm has been planning to set up a retail and distribution system in Indian and – while there are no concrete plans – that the German giant would look into the feasibility of a manufacturing unit. The company is looking to provide tyres for the high-end segment of after-market sales in India.
Kunkel continued, “The booming Indian automotive market has become strategically important for us to deepen our business in the sub-continent. The projected annual growth rate of 15 percent is a huge opportunity to leverage our expertise in vehicle technology and supply affordable components and systems to Indian and multinational OEMs (original equipment manufacturers).”