Global wheel giant Maxion Wheels is investing $50 million to set up a greenfield passenger car aluminium wheel plant in Pune.
The company is building up the manufacturing facility covering 25,000 square meters in Khed City, Pune.
Maxion Wheels, a division of IOCHPE-MAXION S.A., is a leading wheel manufacturer for passenger cars, light trucks, buses, commercial trucks and trailers.
During the ground-breaking ceremony held on February 19, Pieter Klinkers, Chief Executive Officer of Maxion Wheels, said, “With our new Pune passenger car aluminum wheel plant, Maxion Wheels becomes the first global light vehicle aluminum wheel producer in the Indian market.”
Klinkers says : We responded to the requests of our growing global customers and made the investment to join them in the world’s fastest-growing economy.
When the project is complete, he said the new plant in Pune will produce four million aluminum wheels per annum. In the first phase, he said the company is investing more than $50 million on the land and state-of-the-art plant and equipment for the manufacturing of two million wheels annually.
The production is expected to start in the third quarter of 2019. The new wholly-owned operation is expected to initially bring more than 1,000 new direct and indirect jobs to the region. Maxion will produce low pressure die cast aluminum wheels with a high-end wheel finish in its upcoming Pune plant.
Backed with more than 100 years of wheel-making history and 10,000 employees worldwide, Maxion claim it as the world’s largest wheel manufacturer. It produces around 58 million wheels per year. The wheel maker serves its global OEM customers from 28 locations in 15 countries on five continents, and has state-of-the-art technical centers in the Americas, Europe and Asia.