Latest news with #SchaefflerAG
India.com
2 days ago
- Automotive
- India.com
This company to invest Rs 48000000000 in India, new plant to be built in..., company is....
This company to invest Rs 48000000000 in India, new plant to be built in..., company is.... German automotive and industrial supplier company Schaeffler AG will invest 500 million euros (about Rs 4,800 crore) in India in the next five years. The reason for this is the country's rapidly growing domestic market. Talking to the media, Schaeffler AG's Global CEO Klaus Rosenfeld said that this investment will focus on expanding production capacity, increasing localization and strengthening the company's presence in electric mobility, railways and renewable energy components. Along with this, the company inaugurated a new manufacturing plant in Shulagiri, Tamil Nadu, which focuses on powertrain, chassis components and advanced technology. The company also operates several manufacturing plants along with research and development (R&D) centers in the country. Investment of Rs 1700 crore in last 3 years In the last three years, the company has invested Rs 1,700 crore to enhance local capabilities. Currently, Schaeffler's Indian business has a revenue of over 1 billion euros. Rosenfeld further said that India offers a particularly favorable environment for growth compared to other global markets. The company operates in 4 main areas 'This is a favorable environment for us, where we feel we can do a lot more,' he said. Globally, Schaeffler operates in four main regions, including the US, Europe, Greater China and Asia Pacific. The Asia Pacific region is managed by the company from Singapore, which has been chosen for its connectivity and ability to effectively connect different markets. However, he stressed that the real place to grow in the region is India. Concerns about purchasing an EV! Rosenfeld did not express any concern over the slow rate of adoption of electric vehicles. He believes that whether electrification is slow or fast, customers will continue to buy vehicles. According to Schaeffler's estimate, by 2030, ICE vehicles will have a 30 percent market share globally, and hybrid and battery vehicles will have a market share of about 35 percent.
Yahoo
2 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
Time of India
2 days ago
- Automotive
- Time of India
India is a reliable partner for us amid global challenges, says Schaeffler CEO
The German global automotive and industrial supplier has committed to investing €100 million annually in India over the next five years, while also exploring the prospect of establishing a GCC in the country. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads PUNE: As the geopolitical landscape evolves, marked by tariff tantrums, economic uncertainty, and supply chain disruptions, Germany-based global automotive and industrial supplier, Schaeffler AG , sees India as a reliable partner with significant growth potential worthy of investment. The company has earmarked €100 million (₹900 crore approx, assuming €1 = ₹90) annually for investment in India over the next five years.'In this geopolitical environment with all the tensions and stress in supply chains, with questions of who you are, and who you are going to be friends with, you need to be careful. I think our relationship with India has proven to be strong. We have always seen reliable partners here,' Klaus Rosenfeld , Global CEO of Schaeffler AG, said at a media roundtable held during his week-long visit to Wednesday, the company inaugurated a new manufacturing plant in Shoolagiri, Tamil Nadu, focused on powertrain, chassis components, and advanced technologies. It also operates plants in Pune, Vadodara, and Hosur, along with three R&D centres. Over the last three years, ₹1,700 crore has been invested to enhance local capabilities. Currently, Schaeffler's business in India generates more than €1 billion in further noted that the growth observed in India, along with government initiatives in infrastructure development, digitalisation, and investment in AI, all point in the right direction. Compared to other global markets, India offers a particularly conducive environment for growth. 'This is a friendly environment for us, where we feel that we can do much more,' he Schaeffler operates across four main regions: the Americas, Europe, Greater China, and Asia Pacific--a region which is managed from Singapore, chosen for its connectivity and ability to effectively link this diverse and heterogeneous market. However, he emphasised that 'the real place to be' in the region is the India-UK Free Trade Agreement as an example, he suggested it could serve as a model for the European Union (EU), adding that he hopes that the EU will 'get its act together' to establish a similarly cooperative relationship. While acknowledging the challenges involved, he emphasised the importance of fostering a friendly and reliable partnership based on win-win the slower pace of EV adoption does not appear to be a major concern for Rosenfeld. He believes whether electrification happens faster or slower, customers will continue to purchase vehicles– whether they are electrified or internal combustion engine (ICE) cars. This diversity in demand serves as a hedge for consistent also identified electric two-wheelers as key to India's mobility future. Less common in Germany but essential in India, this segment will see focused investment from the is projecting a global automotive landscape in 2030 where ICE vehicles will account for approximately 30 per cent of the market, with hybrid vehicles and battery electric vehicles (BEVs) each making up around 35 per cent. Regional variations will apply as China, for instance, is already ahead of this curve, with BEV adoption significantly higher than the global hedge against bad times is vehicle lifetime solutions-- services such as repair and maintenance--as they generate consistent revenue, providing stability during economic downturns. 'In bad times, people don't buy cars. They repair cars," he strategy is reinforced by its 2023 acquisition of KRSV Innovative Auto (Koovers), a Bengaluru-based B2B e-commerce platform providing spare parts solutions to India's aftermarket the CEO envisions Schaeffler being recognised as a Motion Technology company and moving beyond the traditional label of an automotive supplier, which he sees as only half the story. "When you consider our core technologies and the breadth of our product portfolio, it's all about motion," he global trade tariffs, Rosenfeld noted that we are moving into a multipolar world with the old idea of free trade being clearly challenged. 'For Europe, this is something of a wake-up call. It is ultimately about competitiveness,' he on the shifting dynamics with China, he added, 'For a long time, Europe and particularly German manufacturers viewed China as a workbench. That perspective has completely changed and the landscape is shifting for global companies like ours.'He believes companies can navigate these changes if they remain open-minded and embrace localisation, which involves real investment in capacity, financial capital, and human AI, which is fast redefining every domain, he believes, the technology holds significant potential in areas involving transactional tasks, however, large-scale and complex manufacturing processes are unlikely to be fully replaced by AI. In these domains, AI can drive substantial improvements in efficiency and cost-effectiveness, making it a valuable tool for operational Schaeffler is also 'carefully looking' at establishing a global capability centre (GCC) in India, further reinforcing the company's long-term commitment to the country.
The Hindu
3 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
3 days ago
- Automotive
- Time of India
India is a reliable partner for us amid global challenges, says Schaeffler CEO
Pune: As the geopolitical landscape evolves, marked by tariff tantrums, economic uncertainty, and supply chain disruptions , Germany-based global automotive and industrial supplier, Schaeffler AG , sees India as a reliable partner with significant growth potential worthy of investment. The company has earmarked €100 million (₹900 crore approx, assuming €1 = ₹90) annually for investment in India over the next five years. 'In this geopolitical environment with all the tensions and stress in supply chains, with questions of who you are, and who you are going to be friends with, you need to be careful. I think our relationship with India has proven to be strong. We have always seen reliable partners here,' Klaus Rosenfeld , Global CEO of Schaeffler AG, said at a media roundtable held during his week-long visit to India. On Wednesday, the company inaugurated a new manufacturing plant in Shoolagiri, Tamil Nadu, focused on powertrain, chassis components, and advanced technologies. It also operates plants in Pune, Vadodara, and Hosur, along with three R&D centres. Over the last three years, ₹1,700 crore has been invested to enhance local capabilities. Currently, Schaeffler's business in India generates more than €1 billion in revenue. Rosenfeld further noted that the growth observed in India, along with government initiatives in infrastructure development, digitalisation, and investment in AI, all point in the right direction. Compared to other global markets, India offers a particularly conducive environment for growth. 'This is a friendly environment for us, where we feel that we can do much more,' he said. Globally, Schaefler operates across four main regions: the Americas, Europe, Greater China, and Asia Pacific--a region which is managed from Singapore, chosen for its connectivity and ability to effectively link this diverse and heterogeneous market. However, he emphasised that 'the real place to be' in the region is India. Citing the India-UK Free Trade Agreement as an example, he suggested it could serve as a model for the European Union (EU), adding that he hopes that the EU will 'get its act together' to establish a similarly cooperative relationship. While acknowledging the challenges involved, he emphasised the importance of fostering a friendly and reliable partnership based on win-win outcomes. ICE vs EVs Interestingly, the slower pace of EV adoption does not appear to be a major concern for Rosenfeld. He believes whether electrification happens faster or slower, customers will continue to purchase vehicles– whether they are electrified or internal combustion engine (ICE) cars. This diversity in demand serves as a hedge for consistent growth. He also identified electric two-wheelers as key to India's mobility future. Less common in Germany but essential in India, this segment will see focused investment from the company. Schaeffler is projecting a global automotive landscape in 2030 where ICE vehicles will account for approximately 30 per cent of the market, with hybrid vehicles and battery electric vehicles (BEVs) each making up around 35 per cent. Regional variations will apply as China, for instance, is already ahead of this curve, with BEV adoption significantly higher than the global average. Another hedge against bad times is vehicle lifetime solutions-- services such as repair and maintenance--as they generate consistent revenue, providing stability during economic downturns. 'In bad times, people don't buy cars. They repair cars," he noted. This strategy is reinforced by its 2023 acquisition of KRSV Innovative Auto (Koovers), a Bengaluru-based B2B e-commerce platform providing spare parts solutions to India's aftermarket workshops. Meanwhile, the CEO envisions Schaeffler being recognised as a Motion Technology company and moving beyond the traditional label of an automotive supplier , which he sees as only half the story. "When you consider our core technologies and the breadth of our product portfolio, it's all about motion," he explained. Global markets On global trade tariffs, Rosenfeld noted that we are moving into a multipolar world with the old idea of free trade being clearly challenged. 'For Europe, this is something of a wake-up call. It is ultimately about competitiveness,' he said. Reflecting on the shifting dynamics with China, he added, 'For a long time, Europe and particularly German manufacturers viewed China as a workbench. That perspective has completely changed and the landscape is shifting for global companies like ours.' He believes companies can navigate these changes if they remain open-minded and embrace localisation, which involves real investment in capacity, financial capital, and human capital. On AI, which is fast redefining every domain, he believes, the technology holds significant potential in areas involving transactional tasks, however, large-scale and complex manufacturing processes are unlikely to be fully replaced by AI. In these domains, AI can drive substantial improvements in efficiency and cost-effectiveness, making it a valuable tool for operational optimisation. Meanwhile, Schaefler is also 'carefully looking' at establishing a global capability centre (GCC) in India, further reinforcing the company's long-term commitment to the country.
