Voltas has resurrected its intentions to manufacture in India by forming alliances with Korean or Japanese businesses.

It plans to create new home appliances, increase capacity, and make parts like compressors with investments totaling more than Rs 1,300 crore.

The corporation is immediately investing Rs 500 crore in its Chennai factory to produce air conditioners, in addition to approximately Rs 350 crore in the compressor project. Over the following four to five years, it intends to invest an additional Rs 500 crore in the same facility.

Additionally, Voltas is setting up commercial refrigeration production in Gujarat and initiating semi-automatic washing machine manufacturing in its Sanand plant. The company also aims to raise up to Rs 500 crore through debentures for capital expenditure at its new manufacturing plants.

Despite a failed JV agreement with Highly International for inverter AC compressors due to regulatory issues, Voltas continues to expand its product portfolio, now delving into small domestic appliances like water heaters and kitchen appliances.