Schaeffler India surges on inaugurating fifth manufacturing facility in Tamil Nadu

Schaeffler India's share price jumped nearly 3% on Wednesday at ₹4,135 apiece on the NSE.

Schaeffler India has inaugurated its fifth manufacturing facility in Shoolagiri, Tamil Nadu, India. Dedicated to producing powertrain and chassis components and futuristic technologies, the facility at Shoolagiri marks a significant milestone in the company’s expansion strategy after the company announced the inauguration of the new manufacturing facility.

As part of Schaeffler India’s strategy to address growing market demands within the automotive industry, the 16,500 sqm manufacturing facility will serve as a hub for the production and expansion of conventional and electrified powertrain technologies, including planetary gear systems, hybrid transmission components, and new emerging innovations primarily catering to the Indian market.

With the new manufacturing facility, the company also aims to increase its transmission component capacity significantly. It will also serve as a key contributor to the company’s expansion strategy for new products and advanced technologies, supporting its long-term global growth objectives.

The inauguration of the Shoolagiri facility joins Schaeffler India’s four manufacturing facilities in the country and its three research and development centres. As compared to the initial commitment of ₹1,500 crore, Schaeffler India has invested ₹1,700 crore over the last three years (from 2022 to 2024) to expand its local capabilities in India. This includes the expansion of new product lines for powertrain solutions, e-mobility solutions, as well as large and medium-sized bearings for industrial applications.

Schaeffler India offers innovative technologies, products, and solutions for electric mobility, CO2-efficient drives, chassis solutions and renewable energies.