Auto parts maker Uno Minda informed that it will be investing nearly Rs 300 crore to expand its manufacturing capacity of four-wheeler alloy wheels and 4W automotive switches in order to meet the rising demand. The company has also announced plans to set up a subsidiary and office in Dubai to enhance its aftermarket division's reach in the MEA region. Minda Kosei Aluminum Wheel Private Limited, one of the key subsidiary of
Uno Minda Limited, will be expanding its 4W Alloy wheel capacity by 60,000 wheels/month to 240,000 wheel/month at its plant in Bawal, Haryana at an additional investment of Rs 190 crore, the company said in a press release. The expansion is expected to be commissioned in two phase with the first phase of 30,000 wheel/month by December 2023 and remaining in June 2024, Uno Minda said.
Besides this, Uno Minda's another subsidiary Mindarika Private Limited (MRPL), is setting up a new manufacturing plant at Farrukhnagar (Gurugram, Haryana) to cater to increased demand of 4W automotive switches from domestic and overseas customers, the company said. The project cost for setting up Phase 1 of the manufacturing facility at Farrukhnagar will be around Rs 110 crore which will be completed by September 2023.
Dubai footprint will entail setting up of a wholly-owned subsidiary and an office in Mainland Dubai in order to enhance the company's market reach in African & Middle East markets with focus on aftermarket segment, the company stated.
