Danfoss to put Rs 70 crore in state plant

He said Danfoss, which has a turnover of 5.8 billion euros, has started supplying power module solutions for an Indian automotive manufacturer.

“India is an important market and we are expanding production here. We have landed a huge contract from an Indian automotive player for components for hybrid vehicles and supplies have begun. There are many applications that need hybrid solutions.” Kim Fausing, President and CEO said on Wednesday while declining to name the client company.

“We are becoming a solutions provider helping our customers to transition. Our components are used in autonomous tractors and other vehicles,” Domenico Traverso, Danfoss India Board Chairman said.

“We are expanding the production capacity of the drives. We will be investing about Rs 70-100 crore to make 120,000 units per annum of low voltage drives,” Ravichandran Purushothaman, President, Danfoss India said.

The low voltage drives will be used in heating, ventilation and air conditioning (HVAC) machines. Purushothaman added the local content in Danfoss products in India is at 40 per cent now and will go up to 70 per cent in three years.