German auto component-maker Continental AG will invest over Rs 800 crore in India over the next two years to strengthen its operations in the country, as well as make an entry into the radial tyres segment.
While the firm will spend Rs 500 crore to ramp up its electronics division and enhance its R&D capabilities, it will pump in over 50 million euros to get into the radial tyre segment. The company acquired Modi Tyres for 18.5 million euros last year.
"We will invest Rs 100 crore every year on electronics equipment. This will be for introducing new products from our Bangalore plant and supporting new customers," Continental AG Member of the Executive Board (Division Interior) Helmut Matschi said at 11th Auto Expo AT New Delhi.