Global automotive component manufacturer GKN Driveline is setting up a Rs130-crore manufacturing facility, CVJ systems and trans axle solution, in Pune as it continues its rapid expansion in India.
The new facility, strategically located within 30 km of a number of GKN Driveline customers, including Fiat, Volkswagen, General Motors, Tata and Renault, will have an annual production capacity of more than 600,000 CVJ Systems.
The new 8,000 square-metre facility is planned for the manufacture of GKN Driveline's Trans Axle Solutions product range. When fully operation in August 2012, the factory will employ more than 200 people.
"This new facility positions GKN Driveline strongly to meet the continued rapid growth of India's automotive industry," said Marc Vuarchex, managing director, GKN Driveline Asia Pacific. "It is the next step in our mission to remain close and accessible to our customers in west India," he added.
GKN Drivline, which entered the Indian automotive market in early 1980s, was the first company in the country to manufacture sideshafts for front-wheel-drive vehicles.
The company currently employs 800 people at three factories in India - Faridabad and Dharuhera, near Delhi and Oragadam, near Chennai.
"The company's business in India has grown at an annual rate of more than 15 per cent over the past five years and we expect India to remain a high growth market for years to come," Ravindra Ojha, managing director of GKN Driveline in India, said.
GKN Driveline is the world's leading supplier of automotive driveline components and systems. The company develops, builds and supplies an extensive range of automotive driveline components for use in the smallest low-cost car to the most sophisticated premium vehicle demanding the most complex driving dynamics.
GKN Driveline is a leading global producer of CVJ Systems, AWD systems, TransAxle and eDrive system.
With operations in over 30 countries and around 40,000 employees, GKN serves mainly the automotive, aerospace and land system markets. GKN Driveline had sales of Rs39,400 crore (£ 5.4 billion) in the year to 31 December 2010.