Investment is to increase manufacturing capacity of EV parts
Hirschvogel Components India Pvt Ltd, a unit of German automotive components manufacturing company operating at Sanaswadi, has taken an important decision to make an additional foreign direct investment of Rs.750 crore in Maharashtra.
The primary focus of this investment is to increase manufacturing capacity and to manufacture parts required for electric vehicles. This investment is expected to provide a significant boost to the industrial development of Maharashtra, said the Hirschvogel, a leading automotive parts manufacturing group operating across Europe, Asia, and the Americas, with an annual turnover of approximately Rs.15,000 crore.
In India, the company commenced production at its Sanaswadi plant in 2016, in which investments of around Rs.1,000 crore have been made to date.
Due to the industry-friendly policies, strong infrastructure, and incentives offered by the Maharashtra Government, several reputed companies are coming forward to invest in the state, espscially citing substantial growth being recorded by the passenger vehicle market.
A notable example of this is the major investment made by Toyota at Chhatrapati Sambhajinagar. With a similar industrial outlook, Hirschvogel has taken the significant decision to invest in Maharashtra. Hirschvogel is a leading supplier to Toyota and has also received the prestigious ‘Toyota Supplier of the Year 2024’.
An MoU related to the investment was signed during the World Economic Forum 2026 held in Davos, said the company in a release on 24 Jan. It was signed in the presence of Chief Minister Devendra Fadnavis, by company CEO Sahil Jain. Fiinews.com
