Continental AG, German automotive major has set up a Greenfield plant in India's IT focusing to manufacture electronic components for the growing Indian automobile market in the sub-continent.
This plant is invested with Rs 2.2 billion high-tech facility, with a research and development centre which is located in the Bommasandra Industrial Area on the outskirts of the Bangalore city.
This facility will produce instrument clusters for cars, commercial vehicles and two-wheelers, immobilizers and engine management systems for diesel and gasoline engines, electronic control units for power-assisted steering and body control units for interiors.
According to Continental Asian president Jay Kunkel, "The booming Indian automotive market has become strategically important for us to deepen our business in the sub-continent. The projected annual growth rate of 15 percent is a huge opportunity to leverage our expertise in vehicle technology and supply affordable components and systems to Indian and multinational OEMs (original equipment manufacturers)."
He also added that, the recent acquisition of Siemens VDO Automotive AG worldwide for nearly Rs 773 billions has brought its product engineering centre and automotive software development centre in Bangalore into our fold with entrance to their specialization. The buyout has also pushed our ranking to number five among the world's major automotive suppliers. In the coming decade, the focus of the automotive industry will be the mega-trend of affordable cars, especially in growth markets such as India and China.
However the Continental is providing electronic components and systems to multinational OEMs like Maruti Suzuki, Hyundai Motors, Tata Motors, Ashok Leyland, Mahindra, General Motors, Ford, Skoda, Eicher, Hero Honda and TVS.