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German auto components major ZF Friedrichshafen AG is investing Rs 150 crore in a new plant at Chakan in Pune that will combine the car power train, commercial vehicle technology business units as well as ZF Services in India under one roof.
The new site, construction on which has begun, will also house the headquarters of the engineering and administration of ZF India Pvt. Ltd. as well as an R&D Centre to develop products specifically for the Indian market.
Scheduled to go on stream in the first quarter of CY 2015, around 350 employees will work at the location.
“For 30 years ZF has been present in the Indian market,” Rudi von Meister, ZF’s President of Asia-Pacific, said. The company saw considerable potential in the Indian automotive industry and India will contribute to the growth of the ZF Group which will be strongly driven by the Asia-Pacific region, he added.”
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