NEW DELHI: Schaeffler, a supplier of industrial and automotive components, today announced an investment of Rs. 2 billion to set up a manufacturing facility and a new R&D unit at Talegaon, Pune.

The company INA Bearings Pvt Ltd new manufacturing plant will produce engines and transmissions. The R&D organization will focus on strengthening product development and engineering capabilities for customer innovation, the company said in a statement.

Commenting on the development, Dharmesh Arora, CEO, Schaeffler India, said: “In the short and medium term, we see great opportunities in India as the economy grows and the mobile environment for technology suppliers like Schaeffler evolves.”

He added that the new plant will help the company increase its production capacity and strengthen its product portfolio to meet the future needs of its customers.

“This investment is part of a larger strategic growth plan we have previously launched for India called India’s Tomorrow’s Mobility,” said Arora. Arora said.

INA Bearings Pvt Ltd It is the Indian subsidiary of Schaeffler and one of the leading suppliers of engine, transmission and chassis components including needle bearings.

Currently, the company’s existing Pune plant is operating at full capacity with 7000 employees.

Schaeffler is currently in the process of merging two private companies, INA Bearings India Pvt Ltd and Luk India Pvt LTD, with the listed company Schaeffler India Ltd. /Blood