Uno Minda has announced that it will be investing INR 300 crore to expand its manufacturing capacity of 4W alloy wheels and 4W automotive switches to meet rising demand.
According to a press release from Uno Minda, Minda Kosei Aluminum Wheel, one it subsidiaries, will be expanding its 4W alloy wheel capacity by 60,000 wheels per month to 240,000 units per month at its plant in Bawal, Haryana. The additional capital expenditure for the aforesaid capacity expansion will be INR 190 crore, the company noted.
The release added that the expansion is expected to be commissioned in two phases, with the first phase of 30,000 wheels per month in December 2023 and the remaining in June 2024.
It continued that Mindarika (MRPL), another key subsidiary of Uno Minda, is setting up a new manufacturing plant at Farrukhnagar, Gurugram, Haryana, to cater to the increased demand for 4W automotive switches from Indian and international customers.
The project cost for setting up phase-1 of the manufacturing plant at Farrukhnagar will be around INR 110 crore, which will be completed by September 2023, Uno Minda noted.
It added that phase-1 of the plant will make products to be used for manufacturing auto components. The new plant will be strategically located 15 km from the existing Manesar plant deriving significant operational synergies. This location will also have sufficient land availability for any future expansion, the release said.
Interestingly, the Dubai footprint will entail setting up a wholly owned subsidiary and an office in Mainland Dubai to enhance the company’s market reach in African & Middle East markets, focusing on aftermarket segments.
UAE being an auto hub for MEA and CIS with high customer inflow will facilitate the aftermarket business development in the region, Uno Minda added.