Public CompanyMagneti Marelli eyes $100 mn sales in 3 yrs
Fiat group company Magneti Marelli today said it aims to clock $100-million sales in the next three years India by increasing its customer base and services in the country.
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The Italy based-auto component maker, which started operation last year in India, said it is also exploring opportunities for providing services in the two-wheeler and heavy vehicle space.
"We would like to achieve $100 million sales in the next three years. We would like to increase our customer base and our market share in all the component products that we are present," Magneti Marelli President and Chief Executive Officer Eugenio Razelli told PTI on the sidelines of the 10th Auto Expo here.
At present, the company has six joint ventures with various auto component making companies in India, including Carnation Auto, Unitech Machines and Sumi Motherson Group.
Through the JVs, the company produces various auto parts, including automotive electronic system, automotive exhaust systems and lighting and engine control components.
"We have a customer base of around 7-8 auto makers in the country. Our aim is to increase the base. We will looking at working with two-wheeler companies and heavy commercial vehicles like trucks," Razelli said.
Asked if the company is in discussion with any Indian firms for the purpose, he answered in the negative, saying the firm would like to provide services in all the top auto firms in the country.