ET bureau Mumbai: German company Marquardt, which makes premium cars and switches plans to set up a manufacturing plant in India and expand its local R&D center to invest in the country’s growing car and two-wheeler industry. The company has already started supplying switches to commercial vehicles in India. Automakers Established in 2008 A few years ago, I started contacting mainstream passenger car manufacturers. Based on orders from Tata Motors and Fiat Chrysler, the company will expand its Mumbai operations and set up a greenfield plant in Chakan, Pune. Marquardt plans to set up a supply base with 200 plans million switches in the next four years, up from the current 35 switches million switches. We want to use India as a springboard for our two-wheeler switching business. Marquardt plans to invest Rs. 1 billion in its India business over the next few years in a new plant to double its capacity. With more than 400 R&D staff. The R&D center will carry out glo...

NEW DELHI: Automotive component maker Amtekek Auto today said a meeting held by the joint committee of Amtek Auto, Metalyst Forgings, ARGL and Castex Technologies approved a proposal by new investors to infuse fresh capital into the four group companies. The plan also envisages broader corporate restructuring, including domestic business combinations and ongoing asset monetization, to support the proposed plan. Amtek Auto said in a statement, “The boards of Amtek Auto Ltd, Metalyst Forgings Ltd, ARGL Ltd and Castex Technologies Ltd discussed the proposed equity investment.” , subject to lender approval. Amtek Auto in a statement: The investors said they would contact the lenders to implement the proposed master plan. He added, “The plan will create an enterprise value (EV) that reflects underlying asset values, underlying cash flows, and a reasonable capital structure for the benefit of all of the company’s stakeholders.” Amtek Auto stock closed 4.86% high...