TE Connectivity to expand manufacturing presence in India

- Advertisement -
- Advertisement -

TE Connectivity India Pvt Ltd (formerly, Tyco Electronics Corp India Pvt Ltd), an Indian subsidiary of NYSE-listed $14 billion TE Connectivity Ltd, that designs and manufactures from cables and connectors to relays and fibre optics for automotive, aerospace, defence and telecom among others, is looking to expand its manufacturing presence in India.

The company is planning to increase localisation in India from the present 26 per cent to 60 per cent in the next five years. This would be achieved by setting up more manufacturing facilities organically and also through acquisitions, a top company official said.

TE Connectivity recently signed a memorandum of understanding with Karnataka government at the global investors meet in June this year for an investment in Bangalore. The company plans to set up a new manufacturing unit for cables and connectors among others at the Aerospace SEZ near Bangalore. The company has been allotted 20 acres land from the Karnataka government, V Raja, President & Managing Director, TE Connectivity India said.

- Advertisement -

“We have set an ambitious target of achieving $1 billion (Rs 5,500 crore) revenues in India in the next five years. This will be achieved through both organic and inorganic routes. We are currently looking for partners to form joint ventures to exploit various business opportunities including tapping defence offset business,” Raja told Business Standard.

He said the company is in active dialogue with several Indian companies for forming JVs to bid for the offset business, which is set to emerge once the government of India signs, the Medium Multi-Role Combat Aircraft (MMRCA) deal.

“We expect to form a JV with Indian companies to tap the offset business within the next six months to one year. We are ready to transfer technology to the Indian JV in the areas of cables and connectors for defence, space and aerospace applications,” Raja said.

Presently, the company is supplying cable assemblies and connectors to a large number of automobile companies through their Tier-I vendors such as Ashok Leyland, Audi, BMW, Ford, Honda, Tata Motors, Volvo and Volkswagen. It also supplies to HAL, BEL and a host of telecom and IT companies and consumer electronics companies.

It has eight manufacturing units in India, of which five are in Bangalore, two in Pune and one in Kochi.

For the year ended September 2011, the company reported revenues of Rs 1,356 crore, showing a growth of 17.6 per cent over the previous year. For the current year, the company is still looking at a double-digit growth despite slowdown in the Indian market, he added.

- Advertisement -
Previous article
Next article

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

5G RedCap To Transform IoT Module Shipments

0
Over 60% of IoT module shipments will originate from the Asian & Oceania region. Automotive sector is expected to be a significant driver. The...
XR Headset Quest 3, Meta

Global XR Headset Shipments See A Major Decline, Sony Rises

0
Sony grabbed a market share of 24% in 2023 up from 1% in 2022. Bulky form factor, and lag, hinder adoption by serious...

Buzz

Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Jitendra EV Plans Sodium-Ion E-2Ws In Two Years

0
Sodium-ion batteries primarily use table salt and forest industry biomass, making them more readily available domestically. Jitendra New EV Tech, an electric two-wheeler manufacturer based...

Important Sectors

Keysight Technologies Pvt Ltd Logo

Keysight Acquires Spirent Communications For $1.46 billion, Outbids Rival Viavi Solutions

0
Keysight's offers 85.9% premium over Spirent's closing price on March 4, exceeding Viavi's 61.4% premium. Keysight expects new serviceable available market opportunities of...

Hyundai Motor Boosts EV Investment In Korea

0
The automaker stated that over half of the investment, amounting to 35.5 trillion won will be dedicated to new R&D infrastructure and EV assembly...

Jitendra EV Plans Sodium-Ion E-2Ws In Two Years

0
Sodium-ion batteries primarily use table salt and forest industry biomass, making them more readily available domestically. Jitendra New EV Tech, an electric two-wheeler manufacturer based...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

BYD Aims For 20% Increase In Yearly EV Sales

0
The company is targeting sales of 500,000 vehicles internationally this year, over twice the amount sold last year, and aims to increase that figure...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...