Technology major Continental Monday said its around Rs 180-crore manufacturing facility for premium surface materials for automotive industry in the city will start production in 2020.
The firm performed the groundbreaking ceremony for the facility Monday, which will supply premium materials such as the acella eco artificial leather to the local market, a release said.
Spread over 12,000 square meter area in a four-hectare plot, the facility coming up at Kesurdi area of the south of Pune will have an initial annual capacity of five million square meter.
It will be built at an investment of about 22 million euros (around Rs 180 crore), the release said.
The German automotive manufacturing firm currently has 15 plants across Asia, the Americas and Europe.
Dirk Lei, head of the surface materials business unit, Continental, said India is rated as the fifth-largest automotive market in the world with huge growth opportunities and every vehicle needs interior materials for seats, door trims and instrument panels.
"This investment (22 million euros) will enable us in the future to offer our Indian customers local solutions that are manufactured in the market for the market," he added.
The facility will began production with an initial workforce of up to 110 people, the release said.
"The new plant in Pune will enable us to further improve both our reaction times and responsiveness and lastingly grow our business in India," he said.
In addition to acella eco, the plan is also to manufacture the environmentally compatible yorn and yorn light expanded foils, the company said.
The plant, which will offer room for further expansion, will include production, warehousing, R&D labs, sales, logistics and product development facilities and local purchasing, it said, adding only environment-friendly ink systems will be used on the shop floor.
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