Sundaram-Clayton Limited (SCL)
is planning to invest Rs 400cr over 3 years to expand its facilities in India.
This will increase its capacity from 60,000 MT to 70,000 MT. SCL has 4 manufacturing plants situated in
India. The planned investment will enable the company to cater to the growth
that it expects from the Indian market.
Sundaram-Clayton Limited is
the flagship company of TVS Group and a leading
Indian manufacturer and supplier
of aluminum cast products to global automotive OEMs, plans to invest for growth both
in India and in US, along with its subsidiary.
Further to the investment announcement made to
the press and
stock exchanges in August 2016, a progress update on the above plans is
The company also announced its
plans to set up its first manufacturing facility outside of India with an
additional investment of over USD 50million (Rs 350 Cr) to create 10,000 MT of
capacity over a period of five years. The facility will be located in the
United States, in Dorchester County, South Carolina. Currently, the United
States contributes a major share of SCL's export revenue. In order to support
its customers in the region with a shorter supply chain and improved responsiveness
to their requirements, SCL has decided to establish a plant in the
country. The new plant seeks to deepen
SCL's decade long strategic engagement in the region.
South Carolina is among the
fastest growing automotive and manufacturing hubs in the United States. SCL has
acquired 50 acres
of land in
Dorchester County for
its plant, where
it will manufacture High Pressure Die Cast and Gravity Cast
parts. Construction at the site is expected to begin by April 2017, and the
first production line would be ready for roll out by end of 2018.
Speaking about the initiative,
Dr. Lakshmi Venu, Joint Managing Director, Sundaram-Clayton
Limited (SCL) noted, "Over
the last decade, the automotive
components industry in India has grown
three times in size and exports
have grown rapidly as well.
I believe that
there is a bright
future for Indian
auto component companies both i n India and in the export market. I am also confident that India will
be among the fastest growing markets globally in the next few years and we will
continue to invest strongly and grow in India."
Dr. Lakshmi Venu further
added, “The United States is a strategically important market for us. Over the
years, we have built strong partnerships with global OEMs in the region and
have decided to set up a state of the
art facility in the
United States to better
support our customers there.
Dorchester County in
South Carolina offers
certain strategic business
advantages including proximity to
a high quality port, a well-rounded
transportation network, a young,
well-educated, diverse workforce and
an excellent business
environment. SCL is known for our customer-first attitude in everything that
we do and we expect that this plant will enable us to be more responsive to our
customers and to serve them better."
Bolt, India’s largest EV charging network, announced the launch of Bolt Lite, India’s first safest, smartest and most affordable universal EV charging socket.
Renon India, one of India’s leading energy storage companies, has launched its swappable smart batteries, Groot, for electric 2-wheelers. The Li-ion battery pack for low and medium speed EVs is built ...
MG Motor India introduced ‘MG Service on Wheels’ initiative to provide customers with car repair and maintenance services from the comfort of their homes. This service outreach programme reinforces th...