CHENNAI: Automotive component major ZF group will make transmissions for off-highway vehicles at its new Coimbatore plant for domestic and export markets, a top company official said.
As per the company, the Indian off-highway segment is estimated to grow significantly.
In India, the construction industry is upbeat about the market potential with rapid urbanisation and the push for infrastructural connectivity, which the country is witnessing.
“This new plant and localisation of transmissions and axles at our plant in Coimbatore will further our ambition of Make in India for the World and Make in India for India,” ZF Group India president Akash Passey said.
The economic tailwinds of growing urbanisation and the key thrust on infrastructural growth, makes the ZF Group in India positive about the market and the opportunities present, he said.
The new plant in Coimbatore, together with the main hub in Germany, will support the production capacity needed for the future market growth in the global construction equipment market.
The ZF group reported 43.8 billion euros in sales in the fiscal year 2022. It operates 168 production centres in 32 countries.