Forvia, a French auto parts manufacturer, plans to invest an additional €70 million (about ₹700 crore) in India. It aims to more than double its revenue in the country to €1 billion (about ₹10,000 crore) by 2030.
By 2025, Forvia was making some €450 million (₹4,500 crore) from its India operations. The company’s total investment in India will be around €270 million (₹2,700 crore) by 2031 with the latest round.
Forvia, owned by Sweden’s investment firm EQT, plans to build three new manufacturing plants in India as part of its expansion strategy. These will include a lighting plant, and a seating facility and clean mobility facility in western India. The new units are likely to help the company cater to the rising demand for advanced automotive technologies.
The company also plans to further ramp up its manpower footprint in India. The company will increase its workforce by about 50% from about 6,000 today to more than 9,000 by 2030.
The growing demand for SUVs, vehicle electronics and premium features in the Indian automotive market supports Forvia’s growth strategy. As car makers introduce an increasing number of technology-packed vehicles, there is a growing demand for advanced lighting, seating, electronics and clean mobility solutions.
Faurecia and Hella have joined forces to create Forvia, a world-class supplier in automotive technology. The fresh investment is an indication of the company’s rising belief in India as a significant automotive market and manufacturing hub.
The expansion is expected to enhance Forvia’s local production capabilities and generate new jobs and development in the Indian automotive component ecosystem.
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