OP Mobility to Invest $300M in India, Double Production

According to Laurent Burelle, head of the French auto parts multinational, OP Mobility SE intends to invest $200–$300 million (₹1,774–2,661 crore) in India over the next five years in order to greatly increase its production footprint and improve its engineering capabilities.

With this investment, the corporation would be making its largest commitment to one of the fastest-growing vehicle markets in the world to date. Formerly known as Plastic Omnium, the $14 billion group produces car exteriors and lighting modules, fuel systems, and other mobility components. The investment decision followed a "deeply inspiring" meeting with Prime Minister Narendra Modi early last week.

"I was impressed by the Prime Minister's clarity of vision and understanding of the automotive sector," he said. "He spoke with conviction about India's ambition to be a global leader in manufacturing, technology, and mobility.

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 It was a very encouraging exchange that reinforced our confidence to accelerate investments here." The investment will entail OP Mobility doubling the number of factories in India to 10 besides starting a new technology centre as it also looks to more than double its business in the country.

"India has become a very important pillar in our global strategy," said Laurent Favre, chief executive officer. "We plan to add five new factories over the next five years - in major auto hubs including Chennai, Manesar, Aurangabad, Hansalpur, and Kharkhoda and expand our tech centre in Pune, which will be the largest in Asia."

Currently, the company's operations in India bring about $250 million annually. According to Favre, the new investment will also encompass cutting-edge fields where OP Mobility has worldwide experience, like battery systems and hydrogen energy storage.