Lumax Industries, an Automotive lighting solutions company, flagship of the Delhi-based Lumax group has planned to set up a green field plant to provide lamps for Toyota’s small car. This plant (codename 800L) will be ready by 2010-11. In the same year, Toyota plans to rolls out its small car in India.
Deepak Jain, executive director, Lumax Industries, said, “The slowdown in the automotive market, inflation and instability in commodity markets has caused them to scale back investments by 20%. However, the three plants slated to come up this fiscal are part of the investment pipeline. “We have cut down on our investment by 20%. So, Rs 250 crore investments have been now reduced to Rs 200 crore for this fiscal.”
Lumax Industries is not only extending capacities in its existing automotive industry but also looking forward to enter into aviation sector.