We are scouting for land parcels say about 10-15 kms from present websites. We will purchase double the dimensions, preserving future development in thoughts, says Uno Minda Group CFO and CEO Safety and Comfort Systems Sunil Bohra.
| Photo Credit: Special Arrangement
Auto part maker Uno Minda Ltd. is endeavor a serious growth drive to enhance manufacturing capacity as its crops are working at full capacity, mentioned Chairman and Managing Director Nirmal Ok. Minda.
“As we expect industry size of two-wheelers to be about 30 million by 2030, we are gearing up to set up additional capacities. We are scouting for land and are in the process to acquire them in different parts of the country,” he mentioned throughout an interplay.
The main producer and provider of automotive options and methods to authentic gear producers has put aside a capex of ₹2,000 crore for growth spanning over the following the few years and about ₹600 crore for land acquisitions.
The Gurugram-based firm has 73 crops globally and 13 joint ventures. It has already acquired 86 acre in Pune from personal events and course of is on to purchase 40 acre in Hosur and 100 acre in North India.
“We are scouting for land parcels say about 10-15 kms from existing sites. We will acquire double the size, keeping future growth in mind,” mentioned group CFO and CEO Safety and Comfort Systems Sunil Bohra.
According to him, the capex can be incurred on growing manufacturing capacities of blow moulding and paint store in Bengaluru, 4W (four-wheel) alloy wheels (Gujarat and Bawal in Haryana), 2W (two-wheel) alloy wheels (Pune) and EV traction motor manufacturing facility (Bawal). Expansion can also be taking place in Hanoi by way of a JV companion.
Besides, new amenities are deliberate for making 4W switches (Chennai and Gurugram), 4W lighting (Gujarat and Pune) and EV particular merchandise (Gurugram). Recently, the board cleared a ₹542-crore proposal to make 4W alloy wheel and the situation is but to be determined.
“For most of the projects, the capex is on track. It will be met mostly through internal accruals and borrowings,” he mentioned.
In FY23, the corporate clocked a income of ₹11,236 crore. Of the entire pie, 2W accounted for 43% of which the share of EVs is 11%.
“In the EV space, currently, we are focusing on two wheelers and going forward, we will focus on the passenger vehicle segment too,” he mentioned.
The firm EV product portfolio for 2W and 3W consists of battery administration system, on board charger, off board charger, RCD cable, physique management module, sensible plug and telematics. Traction motors, battery packs and acoustic car alert system are beneath improvement.
