Automobile component maker Motherson Sumi Systems Ltd (MSSL) on Wednesday said it has received an order for around Rs.15,400 crore from German auto giant Daimler.
The company also said it would invest in two new plants - one each in the US and Hungary - and also expand its facility in Germany to cater to Daimler's needs.
In a filing in the BSE, the company said it got the order through its subsidiary Samvardhana Motherson Automotive Systems Group BV (SMRPBV).
The new orders are for the supply of a range of exterior and interior systems for several future Mercedes-Benz vehicle generations and the order is expected to commence from calendar year 2018, MSSL said.
With the establishment of the new plant in the region around Tuscaloosa, close to Daimler's assembly plant, SMRPBV enters an important strategic growth market - US.
"While we can't give any specific details about these orders, but we can state that the preparatory work for the establishment of the two new plants has already begun. We are eager to start producing products matching Motherson's global quality in these two plants," a stement quoted MSSL chairman Vivek Chaand Sehgal as saying.
