Spanish firm Gestamp to expand Takwe plant

Pune: The Spanish auto components and stampings firm Gestamp has said that it is planning a two-phase expansion of its Takwe plant, on the outskirts of Pune, by the end of 2023, with the firm expressing confidence in the Indian auto market, even as key auto markets globally, especially Europe and North America, have shrunk due to economic and geo-political factors.The company’s India head and president, Glyn Jones, said that the first phase of the expansion is due next month. “We have two facilities in the Pune region, with one being in Chakan, next to one of our clients. The other plant at Takwe is undergoing an extensive expansion to double its size, as local clients are accelerating their EV launches. The first phase of the expansion will be completed by the middle of February, while the second phase will be done by the second half of this year,” Jones said, in an interaction with TOI.While Jones did not disclose the investment into the expansion at their Takwe plant, he added that Gestamp has invested around ₹150 million into their India facilities and market. The company also has another plant in Chennai, which used to supply to clients such as Ford, and is now aligning with other auto OEMs in the area after Ford’s exit from India. Jones said that the move towards electric mobility, as well as upgraded safety norms, is “changing the portfolio” of cars in India, especially as cars need to employ more lightweighting technology in materials while maintaining structural integrity in order to comply with crash test and safety norms.