Business News | Auto Parts Manufacturer Sona BLW Precision Inaugurates Its Second-largest Unit in Pune's Chakan
Get latest articles and stories on Business at LatestLY. According to the company's statement, the new plant manufactures driveline products for electric vehicle (EV) and non-EV applications and serves customers in India and globally.
Pune (Maharashtra) [India], April 10 (ANI): Auto parts manufacturer Sona BLW Precision Forgings inaugurated its second-largest manufacturing plant in Chakan, Pune, with an investment outlay of Rs 231 crore.
According to the company's statement, the new plant manufactures driveline products for electric vehicle (EV) and non-EV applications and serves customers in India and globally.
Spread over 10 acres in Chakan, India's automobile and manufacturing hub, the plant will leverage latest technologies ensuring the highest levels of quality and precision in the manufacturing process, according to a company's statement released on Monday.
The firm said it will be critical in scaling up capacities to fulfil the company's large and growing net order book of Rs 238 billion. The new plant has a production capacity of nearly 11.8 million gears, which is expected to reach 20.1 million differential gears by the end of financial year 2024-25 (FY25).
"We are proud to inaugurate our new plant in Chakan," said Sunjay Kapur, Chairman of Sona Comstar. "With state-of-the-art technology and an unwavering commitment to quality and technology, we are confident that this plant will set new benchmarks in the automotive industry and mark India's eminence in manufacturing on a global platform."
Vivek Vikram Singh, MD and Group CEO, said, "This new plant is a testament to our dedication to innovation and excellence in manufacturing. This expansion marks a significant milestone in our growth journey, as we remain committed to our vision of being a global leader in the automotive technology solutions space."
According to Ricardo's data, Sona Comstar's global market share of differential gears increased to 7.2 per cent in 2022 from 5 per cent in 2020.
V Vikram Verma, CEO of Driveline Business, said, "We are excited to inaugurate our new manufacturing plant in Chakan today... The plant's strategic location in the automotive hub of India will help us better serve our customers in the western and southern regions." (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)