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Auto components manufacturer Sundram Fasteners has outlined a significant investment plan of Rs 1,411 crore for future capacity expansion in Tamil Nadu. This strategic investment, extending until 2027-28, is earmarked for augmenting the capacity of existing products, with a specific focus on components catering to the burgeoning electric vehicle (EV) market.
The proposed investment is slated to be allocated across various factories situated in Padi, Mahindra World City Velappanchavadi, Gummidipoondi, Hosur, Aviyur, Madurai, Mittamandagapattu, and Villupuram in Tamil Nadu. The expansion initiative is anticipated to create employment opportunities for approximately 1,500 individuals within the state.
Noteworthy for its alignment with both the Industrial Policy and the EV Policy, this investment is poised to fortify Sundram Fasteners' position in the industry, paving the way for sustained growth and the attainment of new milestones.
News by Rahul Yelligetti
