Sundram Fasteners to Invest ₹400 Crore in Capacity Expansion Across ICE, PHEV and EV Segments
Sundram Fasteners Limited's board has approved a capital expenditure outlay of ₹400 crore to expand manufacturing capacities across its internal combustion engine, plug-in hybrid electric, and electric vehicle product segments.
Of the total outlay, approximately ₹250 crore has been allocated to the company's Fasteners Division, targeted at expanding capabilities for wind energy, space and aerospace applications. A further ₹100 crore is earmarked for the company's Cast and Machined Assemblies business.
Managing Director Arathi Krishna noted that the expansion comes alongside the company's continued push into non-automotive sectors, including aerospace, wind energy, railways and defence, where the company has been building out its component capabilities