Global automotive electronics major Visteon Corporation will be setting up a display manufacturing facility, increase its engineering centres, and double its headcount to 3,000 in India, Global President-CEO Sachin Lawande, said on Friday.
The Indian-American Lawande also said the $3 billion revenue Visteon is looking at India as a major growth market as Indians are now willing to spend more and even a first time car buyer is looking at costlier models.
“We are setting up a one million units per annum display panel facility adjacent to our facility near here. This will be Visteon’s third display facility after Portugal and Mexico. The investment in this plant will be about $20 million and will start production next year,” he said.
Lawande also said Visteon is also mulling another greenfield facility in India similar to its current electronics and display plant near here and a decision will be taken early next year. “A new plant would involve an investment of about $35 million. The new plant will fructify when the current plant does a turnover of about $350-400 million,” he said.
