New Delhi: Auto components maker Uno Minda Ltd on Tuesday said it will invest Rs 320 crore to set up a new manufacturing facility to enter the four-wheeler passenger vehicle seating systems segment.
The plant will have an annual capacity of 2.40 lakh units.
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To support this new product line, the company's board of directors has approved the setting up of a greenfield manufacturing facility in Chhatrapati Sambhajinagar (formerly Aurangabad), Maharashtra, with a proposed capital expenditure of approximately Rs 320 crore, Uno Minda Ltd said in a regulatory filing.
The facility is expected to commence operations by Q4FY28, it added.
On its foray into the four-wheeler passenger vehicle seating systems segment, the company said it is one of the highest value product categories in the automotive supply chain.
The project will be executed under Uno Minda Tachi-S Seating Pvt Ltd -- a joint venture with TACHI-S Company Ltd, Japan, a leading global automotive seating manufacturer, the company said.
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"Entering the complete four-wheeler passenger vehicle seating systems segment isn't just a product expansion - it's a strategic leap that substantially increases our per-vehicle value potential and deepens our footprint in a segment that is central to the premium vehicle experience," Uno Minda Ltd, Managing Director Ravi Mehra said.
