Spanish automotive supplier Gestamp anticipates India will become one of its five largest markets worldwide within five to six years, driven by expanded manufacturing, R&D and technology investment. Executive chairman Francisco J Riberas told ETAuto that Gestamp's India revenue, about €240m ($275.4m) last year against global sales of around €11bn, could double over the next five years after rising roughly 80% in the past five, subject to winning new customer contracts. The company is investing Rs5.24bn ($54.6m) in a new plant in Gujarat, initially planned around one hot-stamping line but enlarged to a second phase after customer orders were received; the facility will house two hot-stamping lines plus laser and assembly operations, focusing on structural parts such as door rings for regional vehicle manufacturers. The Gujarat plant adds to Gestamp's existing Indian operations, a chassis parts factory in Pune and a joint venture with Aditya Auto Products in Maharashtra producing hinges, checks and latches. Riberas said Gestamp is also looking at partnerships and acquisitions as supplier consolidation remains a possibility, has secured several EV contracts in India including battery box supply under a powertrain-neutral strategy, and expects pure EVs to account for around 10% of India's vehicle output over the next five years.
Gestamp AutomocionGestamp is investing Rs5.24bn in a new Gujarat plant and expects India revenue to double in five years, expanding its manufacturing footprint.
