PSA AVTEC Powertrain Pvt Ltd, a joint venture between Groupe PSA, France, and AVTEC Group, India, opened its new greenfield facility in Hosur to make and supply ‘advanced’ and ‘eco-friendly’ powertrain for the domestic and foreign automotive market.
Chairman of Groupe PSA (managing board) Carlos Tavares and chairman of CK Birla Group CK Birla inaugurated the factory. The initial manufacturing capacity of the plant would be about three lakh units for transmissions per annum and two lakh units for BS VI-compliant engines, a press release said.
The facility would attract an investment of Rs 600 crore and create 800 new jobs, the release said. The plant would also produce gearboxes in the first phase to serve the domestic market, it said.
“With this new facility, we have taken another critical step towards the implementation of our strategic push-to-pass
plan and commitment to the Indian customers," the release quoted Tavares as saying.
“The quality of the relation with our partner, the CK Birla Group, is paramount to the success of our common project, with the creation of a complete ecosystem in India," he said in the release.
“We have always striven to evolve with the ever-changing needs of our customers and partners," the release quoted Birla as saying.
“This partnership brings together latest technology from Groupe PSA and the manufacturing excellence of the CK Birla Group. We are confident this new plant will create long-term value and fulfil future market needs," he said in the release.