Preparing to make large investments in the Indian market is Visteon, a prominent global Tier 1 automotive company. In order to localize backlight manufacturing in India, the company has revealed plans to invest about USD 20 million. Visteon’s larger plan to increase its market share in India, especially in the cockpit electronics sector, is in line with this action. 

Investment in Backlight Manufacturing: 

In an interview with TOI, Visteon Corporation’s president and CEO, Sachin Lawande, announced that the company intends to establish local backlight manufacturing facilities in India. The proposed USD 20 million investment will strengthen Visteon’s operational capacities in the region and allow backlight production to be localized. The decision about the new facility’s location—in Chennai or another city—is currently being considered.  
Vertical Integration of Display Manufacturing: 

Lawande underlined that Visteon’s main market for investments in the vertical integration of display manufacturing will be India. The business has already spent USD 20 million setting up five production lines at its Chennai facility, with a combined yearly capacity of more than 1.5 million displays. Visteon’s determination to increase its market share in the Indian automotive industry is demonstrated by the extra investment it is making in backlight manufacturing.  

Site Selection for the New Factory: 

Visteon is investigating several potential sites for the new factory, including Chennai and Chakan. Due to space constraints, even though the Chennai plant has operated satisfactorily, additional locations need to be carefully evaluated. However, Lawande was enthusiastic about utilizing the fresh investment to launch operations in Chennai. 

Future Outlook and Market Potential: 

Even though Visteon’s current market share is less than 5% of the global market, the growing Indian automotive industry offers the company significant opportunities. According to Lawande, the Indian passenger car market will grow significantly over the next ten years, with a notable shift towards electric vehicles (EVs). Visteon plans to take advantage of this changing environment by using its knowledge of cockpit electronics. 

Diversification into Energy Storage Market: 

In addition to its automotive pursuits, Visteon is thinking of getting into the Indian energy storage industry. Lawande underlined that the company is dedicated to advancing the mobility of people and energy. As EVs become more widely used, Visteon envisions a time when automakers will employ their fleet vehicles as energy storage devices, supporting sustainable energy sources and preserving grid stability.  

Visteon’s strategic investments in India show how committed the company is to localization, innovation, and market expansion. By establishing local manufacturing capabilities and looking into opportunities outside of the automotive industry, Visteon hopes to solidify its position as a significant player in India’s energy and automotive sectors.  

Categories: Automotive, India, News