Canadian automotive supplier and mobility technology company Magna International has launched its new manufacturing facility in Chakan, Maharashtra, India.
Spanning nearly 6,000sqm, it will produce advanced latches and mirrors for automotive applications. Additionally, the new site will reportedly create 300 jobs over the next three years.
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Magna’s new facility will primarily serve customers in western India. It will support the growing demand for automotive components in the region.
Jeff Hunt, president of Magna MML, said, “Magna is thrilled to bring advanced manufacturing capabilities to Chakan and contribute to the region’s economic development.”
“Our commitment to innovation and operational excellence helps us continue to meet the evolving needs of our customers, delivering products that drive the future of mobility,” he added.
India’s auto component manufacturing industry has witnessed a sharp rise in recent times. According to the Automotive Component Manufacturers Association of India (ACMA), it reported a turnover of $69.7bn from April 2022 to March 2023 depicting a growth of 32.8% YoY.
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By GlobalDataMagna’s new facility reinforces its presence in India, where the company employs over 7,000 people at numerous locations. Globally in 2024, it has announced investments in South Carolina (US), Mesa (US), and Coahuila (Mexico) among others.
