Advantec Wheels has announced plans to invest Rs 100 crore in the flow-forged alloy business which is likely to get commercialised from April 2024.

The company is establishing a manufacturing facility in Jammu & Kashmir. Commissioning of this 200,000-units-per-annum capacity plant is slated by Q1 FY2025. The company has solely relied on bank debt to fund its project.

While it has already invested around 60 percent of its planned capex into the project, the remaining will be infused as the business matures.

“We aim to cater to young car buyers and automotive enthusiasts with our premium range of products that will focus on an extra dimension of personalisation beyond our key focus areas of following a core design philosophy, and quality-oriented process,” Jasneet Singh, Founder-Director, Adavntec Wheels said.

“We aim to offer up to 25 paint finishes, and are extensively focusing on the paint finishing technology to get the right look. We have limited our initial designs to only three options in sizes from 16- to 22-inch range, to eliminate confusion, and maximise personalisation options for the customers,” he added.