Continental to set up new plant in Bangalore; invest Rs 100 cr

New Delhi, Jan 10 (UNI) German car components manufacturer Continental AG today said it will invest Rs 100 crore in a new plant in Bangalore and focus on building more components for low-cost car makers in emerging markets like India.

''We are setting up a new automotive electronics plant at Bangalore with an investment of Rs 100 crore,'' said company Managing Director (Asia) Markus Distelhoff.

The plant is expected to be operational by May this year, he said adding that the new plant will replace its existing plant in Bangalore.

The plant would also include a research and development centre, and would take the number of manufacturing facilities to six.

Continental is targeting 60 per cent annual growth in its India operations by 2012, Mr Distelhoff said.

UNI MP/SBA SR RN1914