To expand its manufacturing footprint in the state, Schaeffler India inked a Memorandum of Understanding (MoU) with Guidance, the Government of Tamil Nadu’s (GoTN) key agency for investment promotion and facilitation.
Schaeffler India will invest over Rs 300 crore over the next four years to build a new greenfield manufacturing plant in Hosur, Tamil Nadu, to produce transmission components and systems for the automotive and tractor industries.
The idea will provide the state with substantial economic and social benefits, as well as direct employment for more than 300 people.
