Lumax to invest Rs.200 crore to set up two plants

NEW DELHI - Automotive lighting solutions provider Lumax Industries Thursday said it will invest Rs.200 crore to set up two plants in the next two years.

“We will be setting up two plants in the coming two years with an estimated cost of Rs.200 crore for Tata Nano and Toyota Etios,” said Anmol Jain, senior executive director, on the sidelines of an auto-component conference here.

The plant for Tata Motors’ Nano car will be coming up at Sanand, Gujarat, which will be operational in the third quarter this fiscal. The second plant for Toyota’s Etios will become operational only by next fiscal in Bangalore.

Lumax currently holds over 60 percent market share in Indian automobile lighting business with six plants spread across the country.