Groupe PSA and Avtec Ltd hosted
a ground-breaking ceremony for their plant in Hosur, Tamil Nadu that will focus
on manufacturing and supply of powertrains. The ceremony officially marked the inception
of PSA-Avtec Powertrain Pvt. Ltd., a 50:50 joint-venture between Groupe PSA and
Avtec. The ceremony was attended by the new entity’s board of directors.
With initial manufacturing
capacity at about 200,000 units per year, the plant will further receive
incremental investment to support a progressive ramp-up of the long term
project. The plant will be engaged in the manufacturing of next generation
gearboxes and engines. The manufacturing capacity for powertrains will cater to
the domestic market needs and global OEMs. The performance of the industrial
set-up will be supported by a significant level of localization, in order to
reach the necessary cost competitiveness.
Emmanuel Delay, Executive Vice
President India & Pacific, Groupe PSA, said: “The ground-breaking ceremony
is a key milestone in the deployment of our strategic plan Push to Pass and it
reiterates the commitment of Groupe PSA to India. With the support of our
Indian JV partner AVTEC, we are confident of meeting the requirements of our customers
by providing them best-in-class products driven by latest technology and
Prabhakar Kadapa, CEO &
MD, Avtec Ltd., said: "The JV with Groupe PSA will play a critical role in
deepening the Group’s capabilities in the automotive market in India. We are
committed to delivering an array of advanced products and setting global
benchmarks in reliability and efficiency through this partnership that will
help us tap into the huge potential of the Indian automotive industry.”
This joint venture that
brought Groupe PSA and the CK Birla Group Avtec was announced in January 2017.
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