Pune: A Korean technology company dealing in automotive components, Autogen, is set to develop its manufacturing unit in the city with an investment to the tune of USD 14 million.
AutoGen has signed a Memorandum of Understanding (MoU) with Khed City, Pune.
Officials stated that it is one of the most significant alliances in the Indian automotive industry.
“The state-of-the-art manufacturing plant is spread over an area of 16,000 square metres. AutoGen plans to commence the construction of the factory in the next couple of months,” officials explained.
As Pune is an established automotive hub, the management at AutoGen is confident of forging several partnerships in the next few months.
The company is already supplying hot stamping parts to Mahindra & Mahindra since 2014.
From the year 2018, AutoGen plans to deliver the parts to M&M from its local plant in India.
The reason AutoGen is grabbing attention can be attributed to the fact that it would become the first localised automotive component supplier for M&M.
“As a company that believes in cutting-edge technology, AutoGen intends to offer incomparable products to its clients.
“Hot Stamping (also known as hot press forming) is an advanced technology which produces ultra-high strength steel ensuring high safe ty in the event of a vehicle collision and weight reduction for high fuel efficiency. The high strength steel is formed into complex shapes by high temperature heating about 900°C and subsequent rapid cooling in a press forming process,” officials added.
