Uno Minda is planning to make an investment of Rs 175 crore in expanding the capacity of airbags, which is under a joint venture with TG Minda India.
The capex is in addition to the company’s ongoing multi-year capex programme involving Rs 1,664 crore. TG Minda India is a manufacturer of automotive safety systems, fuel caps, and weather-strip sealing parts.
The proposed new capex of Rs 175 crore will be infused in ramping up the capacity of TG Minda India’s unit in Rajasthan.
The existing airbag production capacity of the Neemrana unit is 18,00,000 units per annum, while the proposed addition is 12,00,000 airbag units per annum. The expanded capacity is proposed to commence by December 2024.
Uno Minda has already planned a total capex amounting to Rs 1,664 crore across its multiple entities. This will be incurred across locations in a phased manner over a period of three to four years.