Sundram Fasteners Unveils Ambitious ₹1,411-Crore Expansion Strategy

In a major development, Sundram Fasteners, a leading auto parts manufacturer, has revealed plans to invest a whopping ₹1,411 crore in a comprehensive expansion initiative set to unfold until the fiscal year 2027-28. The substantial investment is earmarked for augmenting the production capacity of existing products, with a particular focus on components for electric vehicles (EVs).

According to an official statement, this ambitious investment program is not only expected to enhance manufacturing capabilities but also create employment opportunities for over 1,500 individuals in Tamil Nadu. The strategic allocation of funds is aimed at various factories across locations in the state, including Padi, Mahindra World City Velappanchavadi, Gummidipoondi, Hosur, Aviyur, Madurai, Mittamandagapattu, and Villupuram.

Crucially, investments made within Mahindra World City will be governed by both the Industrial Policy and the EV Policy, emphasizing the company's commitment to aligning with evolving industrial and environmental standards.

Expressing gratitude to the Government of Tamil Nadu for its support, Arathi Krishna, the Managing Director of Sundram Fasteners Ltd., remarked, "With this strategic investment, we are proud to expand growth opportunities and reach new milestones." The announcement underscores the company's dedication to staying at the forefront of automotive innovation and contributing to economic growth in the region.

HBL