The share of diesel passenger cars and SUVs going up from three per cent in 1998 to 20 per cent in 2004 and expected to be between 35 and 50% in the next three years, Sanjay Sondhi, MD, Honeywell Turbo Technologies India Pvt Ltd. This year this segment grew at 25% and is expected to continue its growth for the next four to five years. The current market in India for turbochargers is about four lakh units.
Honeywell Turbo Technologies is a $2.4 billion business globally and it has 12 manufacturing sites across the globe. Honeywell Turbo Technologies India is a 100% subsidiary of the parent company.
Honeywell has invested $ 10 million in the new turbocharger plant which will in the first phase manufacture 1.25 lakh units.