NewsInvestment of *350 crore by Sundram Fasteners in advanced...

Investment of *350 crore by Sundram Fasteners in advanced technology

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As Sundram Fasteners Ltd. MD Arathi Krishna recently announced, the company has set aside approximately 350 crore over the next five years for the development of AAT components.

According to a statement from SFL, AAT components, such as powertrain sub-assemblies for electric vehicles (EVs) and select internal combustion engines (ICEs), were expected to cost more than 350 crore out of the planned capex of 2,000 crore over the next five years, according to a statement from SFL.

Components from the Chennai-based auto component major will be supplied by global original equipment manufacturers under their electric vehicle programs, it said in an announcement today.

A PLI Component Champion Incentive Scheme application submitted by SFL was accepted on Wednesday by the Ministry of Heavy Industries, according to a statement released by SFL that day.

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It is the goal of the PLI programme to build a strong supply chain for AAT components. A minimum investment of 250 crore over five years, with at least 100 crore in the first two years, is required to meet the eligibility criteria.

By increasing localization and making India an export hub in the global supply chain, the PLI scheme will have a positive impact on the industry, she said.

The SFL Powertrain Components division of General Motors has been named Supplier of the Year. For the ninth time in a row, SFL has been honoured with this prestigious award. SFL provides GM with a number of critical components, including transmission shafts and radiator caps.

Since our inception, we have made significant investments in new product development, R&D, and technology. The GM award truly reflects our journey. ” “This award motivates us to develop new technology-based products every year,” she said.

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James
Jameshttp://Shouzy.com
Technology has been James's passion for over a decade. After graduating from the University of Chester with a Bachelor of Arts degree in Journalism in 2006, started writing full-time shortly after. Over the years, he has worked on everything from Windows XP to Red Star OS, but more recently has settled into the Apple ecosystem. A regular contributor at shouzy.com, James writes about iOS, macOS, and Apple hardware.

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