Gestamp Anticipates India Becoming One of Its Top Five Markets
Spanish automotive supplier Gestamp expects India to become one of its top five markets within the next five to six years, driven by expanded manufacturing and investment in R&D. The company's revenue from India has grown significantly over the past five years and is projected to double again if new customer contracts are secured. Gestamp is investing Rs5.24 billion ($54.6 million) in a Gujarat plant featuring two hot-stamping lines, laser operations, and assembly capabilities for structural vehicle parts. The company also operates a chassis factory in Pune and has a joint venture producing automotive components in Maharashtra. It anticipates increased demand for large steel parts as automakers seek to simplify production processes. Gestamp is pursuing partnerships and acquisitions amid industry consolidation while maintaining a powertrain-neutral strategy focused on lightweighting, safety, and structural engineering. The company expects pure EVs to account for around 10% of India's vehicle output in the next five years.
Topics: automotive India market growth manufacturing expansion