German component supplier Continental Group has stated that it will invest at least 8 billion rupees (150 million US dollars) in India before 2013.
The Continental Group stated that it will invest 5 billion rupees to increase its production capacity and enhance its research and development capabilities. In addition, it will invest 3.3 billion rupees into India's radial tire market.
Helmut Matschi, a member of the Continental Group's executive board, explained in detail that the mainland will invest Rs.1 crore annually in its Indian factories for the upgrade of electronic equipment and invest Rs. 1.5 billion annually in R&D centers in India.
Matschi also said that Continental acquired Modi tyres from Indian tire makers in 2011. The mainland will invest 50 million euros (about 3.3 billion rupees) in Modi's tire factory. The plant will be launched in 2013 for passenger cars and commercial vehicles. Radial tires.
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