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Information contained in this news release is current as of the date of the press announcement, but may be subject to change without prior notice.
April 16, 2015
Chennai, April 16, 2015 --- HITACHI AUTOMOTIVE SYSTEMS (INDIA) PRIVATE LIMITED (est. April 2012), a company of the Hitachi Automotive Systems group, and Hitachi Automotive Systems, Ltd. together announced today that they will hold an inauguration ceremony for a new automotive components and systems plant in Chennai.
HITACHI AUTOMOTIVE SYSTEMS (INDIA) has invested approximately 5 billion yen* (3.13 billion rupees) to build the new plant in the integrated industrial park of One Hub Chennai. The new plant is scheduled to begin production of Valve Timing Control Systems (VTCs) and ignition coils in October 2015, with the range of products to be expanded going forward.
The production volume of vehicles is rising in India due to increasing domestic demand. Further, as a production hub for global markets, the volume of vehicles for export is also increasing. Within the rising production volume is an expansion of global engine platform production for global vehicle manufacturers. Against this backdrop of increasing production, India is projected to become the world's fourth-largest vehicle producer after China, the U.S., and Japan by the year 2020, raising its presence in the global automotive industry.
With India thus becoming an important base for global business strategy, Hitachi Automotive Systems is launching a new plant and accelerating industry expansion using its strengths with business scale as a foundation.
Specifically regarding customer strategy, Hitachi Automotive Systems will focus on new product expansion through cross-selling and global footprint cooperation to acquire new customers and strengthen its supply system for supporting global engine platforms. As a regional strategy, global standard production lines will be introduced for producing VTCs and ignition coils in India with global quality and global pricing. As a product strategy, Hitachi Automotive Systems will supply low-carbon technology products that leverage its strengths in electronic control technology and continue to strengthen the introduction of cutting-edge technology that utilizes its global R&D.
Hitachi Automotive Systems together with strengthening its automotive components and systems business in India will continue to contribute to the development of a low-carbon society and sustainable development in India.
HITACHI AUTOMOTIVE SYSTEMS (INDIA)'s new plant
|Name||HITACHI AUTOMOTIVE SYSTEMS (INDIA) PRIVATE LIMITED|
|Location||Plot No. 17, One Hub Chennai, Panchanthiruthi Village, Manamathy PO, Thiruporur Taluk, Kancheepuram District, Tamil Nadu 603 105|
|Capitalization||Approx. 5.8 billion yen* (3.62 billion rupees)|
|Investment||Approx. 5 billion yen* (3.13 billion rupees)|
|Shareholder Composition||Hitachi Asia Ltd. 99.9%
Hitachi Automotive Systems, Ltd. 0.1%
|Start of Operation||Planned for October 2015|
|Number of Employees||230(as of October, 2015)|
Hitachi Automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan. The company is engaged in the development, manufacture, sales, and services of automotive components, transportation related components, industrial machines, and systems, and offers a wide range of automotive systems including engine management systems, electric power train systems, drive control systems and car information systems. For more information, please visit the company's website at http://www.hitachi-automotive.co.jp/en/.
HITACHI AUTOMOTIVE SYSTEMS (INDIA) PRIVATE LIMITED is a regional extension of Hitachi Automotive Systems in India. The company manufactures and sells automotive components and systems. Also, the company provides aftermarket parts and service through HUECO ELECTRONIC (INDIA) PRIVATE LIMITED in Pune.
Hitachi, Ltd. (TSE: 6501), headquartered in Tokyo, Japan, delivers innovations that answer society's challenges with our talented team and proven experience in global markets. The company's consolidated revenues for fiscal 2013 (ended March 31, 2014) totaled 9,616 billion yen ($93.4 billion). Hitachi is focusing more than ever on the Social Innovation Business, which includes infrastructure systems, information & telecommunication systems, power systems, construction machinery, high functional materials & components, automotive systems, healthcare and others. For more information on Hitachi, please visit the company's website at http://www.hitachi.com.