According to foreign media sources, the Schaeffler Group plans to invest 150 million euros (nearly 200 million U.S. dollars) to build a new factory in India and expand the existing one.
Anil Shah, President of Schaeffler India, said: “Schoeffler has been in the Indian market for 50 years. Our three brands have entered the Indian market and India is a very important market for us.â€
AnilShah also stated that in order to promote sales growth and further increase market share, Schaeffler plans to expand its plants in Pune and Vadodara, and build a new plant in Savli, Gujarat, India, to produce low-friction ball bearings. And the required bearings for renewable energy.
Schaeffler will employ 1,200 new employees over the next three to four years, and will train most of the new employees so that they have high professional competence in product development and design.
Schaeffler currently employs 2,300 people in India, and Schaeffler’s sales in India account for about 5% of its global sales.
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