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Schaeffler to invest €500 million in India, opens fifth plant in Tamil Nadu
German firm Schaeffler will invest €500 million in India over five years to grow EV, rail, and renewable businesses and deepen localisation amid global shifts
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Anjali Singh Dev Chatterjee
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German automotive and industrial supplier Schaeffler AG will invest 500 million euros (approximately ₹4,800 crore) in India over the next five years, anticipating growing demand in the local market.
The investment will focus on expanding production capacity, increasing localisation, and strengthening the company's presence in electric mobility, railways, and renewable energy component manufacturing, Schaeffler AG chief executive officer (CEO) Klaus Rosenfeld announced here on Wednesday.
Company executives outlined plans for the Indian market, which, they said, continues to present opportunities despite a flattening global automotive demand.
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