Visteon's Growth in India

Global automotive major, Visteon Corporation, is planning to expand its manufacturing footprint in India as it broadens the range of products it produces locally. Visteon's president & CEO, Sachin Lawande, expressed optimism about the company's growth in India, stating, "We're very bullish on our growth in India. This year Visteon grew 20% YoY, and we expect similar growth next year too. That level of growth needs more investments in new products like cameras and displays."

Investment in New Plants

Currently, cameras are being manufactured at Visteon's Chennai plant, which is operating at full capacity. Lawande mentioned, "We will need to put in a substantial investment in a new plant, and we will take that call by the end of Q1 of next year." The company is considering expanding within Tamil Nadu but will decide early next year whether to expand at the same site or a new site.

Global Capability Centre in Kolkata

Visteon has a manufacturing plant and two tech centers in Tamil Nadu. The company recently inaugurated its new Global Capability Centre (GCC) in Kolkata, which will focus on Android-based automotive solutions and is set to become operational by January 2025. Lawande emphasized the importance of India in Visteon's strategy, stating, "India has been central to our strategy for over 20 years, with more than 2,000 of our people driving automotive innovation."

Collaboration with Universities

Visteon has been collaborating with top educational institutions for the past four years through an internship program called Rise. Lawande shared, "We collaborate with 20 universities in south India, and we pick 300 to 400 students. Right now, 85% of our attrition is handled by people coming through the Rise program."