Maharashtra may have lost out on some key projects due to ongoing geopolitical tension, but it could very well see new investment from US-headquartered Visteon, a leading supplier of cockpit electronics for the automotive industry.
At present, Visteon has a manufacturing plant in Chennai and had earlier announced a $20 million (Rs 162 crore) investment towards its second plant near the existing facility. While currently, India is not amongst the biggest markets for the company, it is one of the fastest growing and is expected to touch revenues of up to Rs 500 million (Rs 4,056 crore) in the next five years.
In addition, the growing demand for electronics and display units inside a vehicle are increasing day-by-day and is no longer limited to the luxury segment. In a conversation with Express Mobility, Aashish Bhatia, VP, and General Manager, Visteon India said, “We are aiming to be the first one to localise infotainment display in India.”
When asked if Maharashtra could be a potential destination, Bhatia stated it (Maharashtra state) was amongst the top favourites due to customer(s) proximity.
The growing trend of electrification and bigger screens even in two-wheelers is helping the company scale new heights.
While Visteon has already announced its plans to double the workforce in India over the course of the coming years. It is also banking on Indian talent for its global development program.
Image for representational purpose only.
