Latest news with #HarshaKadam
Yahoo
6 days ago
- Automotive
- Yahoo
Schaeffler India opens manufacturing facility in Tamil Nadu
German manufacturer of automotive and industrial components, Schaeffler, has opened a new manufacturing facility in Shoolagiri, Tamil Nadu, India, to boost powertrain production. The 16,500sqm Phase 1 facility, situated within a 108,000sqm land plot, is expected to reach full production capacity by the fourth quarter of 2025. The plant will focus on manufacturing planetary gear systems, hybrid transmission components, and emerging automotive technologies primarily for the Indian market. Matthias Zink, Schaeffler AG powertrain and chassis CEO, said: 'India is a key market for Schaeffler. The new facility represents a significant step in our efforts to expand our global manufacturing footprint and further localise our operations in the region. It supports our long-term growth vision and positions us to better cater to the rising market demands and grow with the Indian market.' Harsha Kadam, Schaeffler managing director and CEO, said: 'The inauguration at Shoolagiri exemplifies our commitment to expanding our capacities and competencies in India, enabling us to meet the evolving needs of our customers better. With the expansion of our production facilities, we are well-positioned to cater not only to the present local markets but also to future needs as we transition towards E-mobility. We remain committed to the country's 'Make In India' initiative, while embracing sustainable practices. It also underscores the Schaeffler Group's focus towards India as a strategic growth driver.' Schaeffler India currently operates four other manufacturing facilities in Pune, Savli, Maneja, and Hosur, along with three research and development centers. The company employs over 3,700 people in India and has maintained operations in the country for more than 60 years. "Schaeffler India opens manufacturing facility in Tamil Nadu" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
7 days ago
- Automotive
- The Hindu
Schaeffler India opens new plant in Tamil Nadu
Schaeffler India Limited, a motion technology company, has inaugurated its fifth manufacturing facility in Shoolagiri, Tamil Nadu. A press release said the plant, which has come up with an investment of ₹330 crores and spread across 16,500 sq. Metres, is dedicated for production of powertrain and chassis components and futuristic technologies. As part of Schaeffler India's strategy to address growing market demands within the automotive industry, the manufacturing facility will serve as a hub for production and expansion of conventional and electrified powertrain technologies, primarily for the Indian market. With this facility, the company also aims to increase its transmission component capacity significantly. Schaeffler AG CEO Powertrain and Chassis Matthias Zink said in the press release that 'India is a key market for Schaeffler. The new facility is a significant step in our efforts to expand our global manufacturing footprint and further localisation in the region.' According to Schaeffler India Managing Director and CEO Harsha Kadam, 'With the expansion of our production facilities, we are well-positioned to cater not only to the present local markets but also future needs as we transition towards e-mobility.' As compared to the initial commitment of ₹1,500 crores, Schaeffler India has invested ₹1,700 crore over last three years (from 2022 to 2024) to expand its local capabilities in India. This includes the expansion of new product lines for powertrain solutions, e-mobility solutions as well as large and medium-sized bearings for industrial applications. Schaeffler India also strengthened its presence in the digital automotive aftermarket space, with the acquisition of KRSV Innovative Auto Solutions Pvt. Ltd. (Koovers), a B2B e-commerce platform in 2023, the release added.
Time of India
28-05-2025
- Automotive
- Time of India
Schaeffler India invests Rs 1,700 cr in 3 years to expand local capabilities
Mobility tech firm Schaeffler India on Wednesday said it has invested Rs 1,700 crore over the last three years to expand its capabilities, including expansion of new product lines for powertrain solutions and e-mobility solutions , in the domestic market. The company also announced the inauguration of its manufacturing plant at Shoolagiri in Tamil Nadu for powertrain and chassis components and futuristic technologies as part of its strategy to address growing market demands within the automotive industry. The manufacturing facility will serve as a hub for production and expansion of conventional and electrified powertrain technologies, including planetary gear systems, hybrid transmission components, and new emerging innovations primarily catering to the domestic market. The other four manufacturing plants are located in Pune, Vadodara (2) and Hosur besides three research and development centres. As compared to the initial commitment of Rs 1,500 crore, Schaeffler India has invested Rs 1,700 crore over the last three years (from 2022 to 2024) to expand its local capabilities in India. This includes the expansion of new product lines for powertrain solutions, e-mobility solutions as well as large and medium-sized bearings for industrial applications, the company said. Live Events The company said it has also strengthened its presence in the digital automotive aftermarket space, with the acquisition of KRSV Innovative Auto Solutions Pvt Ltd (Koovers), a B2B e-commerce platform in 2023. "India is a key market for Schaeffler. The new facility is a significant step in our efforts to expand our global manufacturing footprint and further localization in the region. It supports our long-term growth vision and positions us to better cater to the rising market demands and grow with the Indian market," said Matthias Zink, CEO powertrain and chassis at Schaeffler AG. With the new manufacturing facility, the company also aims to increase its transmission component capacity significantly. "With the expansion of our production facilities, we are well-positioned to cater not only to the present local markets but also future needs as we transition towards E-mobility," said Harsha Kadam, Managing Director and CEO, Schaeffler India Limited . Schaeffler India remains "committed" to the ' Make In India ' initiative, while embracing sustainable practices. It also underscores the Schaeffler Group's focus towards India as a strategic growth driver, he added. PTI
Time of India
28-05-2025
- Automotive
- Time of India
Schaeffler India opens new manufacturing facility in Tamil Nadu
The new facility spans a total plot of 108,000 square metres, with the first phase covering 16,500 square metres. This phase is expected to reach full operational capacity by the fourth quarter of calendar year 2025. The plant will increase capacity for transmission components and support the development of new technologies aimed at the domestic market. Localisation goals Matthias Zink, CEO Powertrain & Chassis at Schaeffler AG, stated, ' India is a key market for Schaeffler. The new facility is a significant step in our efforts to expand our global manufacturing footprint and further localization in the region. It supports our long-term growth vision and positions us to better cater to the rising market demands and grow with the Indian market.' Harsha Kadam , Managing Director and CEO, Schaeffler India Limited , said, 'The inauguration at Shoolagiri exemplifies our commitment to expanding our capacities and competencies in India , enabling us to better meet the evolving needs of our customers. With the expansion of our production facilities, we are well-positioned to cater not only to the present local markets but also future needs as we transition towards E-mobility. We remain committed to the country's 'Make In India' initiative, while embracing sustainable practices. It also underscores the Schaeffler Group's focus towards India as a strategic growth driver.' From 2022 to 2024, the company has invested ₹1,700 crore to expand its local capabilities, exceeding the original commitment of ₹1,500 crore. This includes the development of powertrain and e-mobility solutions, as well as bearings for industrial use. In 2023, Schaeffler India also acquired Koovers, a B2B e-commerce platform, to enhance its presence in the digital automotive aftermarket.
Business Standard
30-04-2025
- Automotive
- Business Standard
Schaeffler India jumps after Q1 PAT climbs 16% YoY to Rs 265 cr in CY25
Schaeffler India rallied 7.22% to Rs 3,517.45 after the company reported a 16.58% jump in standalone net profit to Rs 265.41 crore on 14.1% increase in revenue from operations to Rs 2,110.02 crore in Q1 CY25 over Q1 CY24. Profit before tax (PBT) jumped 16.38% YoY to Rs 355.71 crore during Q1 CY25. In Q1 CY25, revenue from automotive technologies jumped 13.7% YoY to Rs 694.17 crore, Vehicle lifetime solutions increased 11.5% YoY to Rs 254.75 crore and bearings & industrial solutions rose 2.46% YoY to Rs 442.92 crore. Harsha Kadam, managing director and chief executive officer, said, We started 2025 maintaining positive momentum, with Q1CY25 being the fourth consecutive quarter of double-digit YoY growth for the company. Growth was broad based aided by both our domestic and intercompany exports business. I am happy to share that we not only improved our quality of earnings but also delivered on our financial and operating metrics. We move ahead with the same focus and commitment to provide long term value to all our stakeholders. Schaeffler India offers innovative technologies, products, and solutions for electric mobility, CO₂-efficient drives, chassis solutions and renewable energies.
