Minda Corporation is set to invest approximately ₹2.70 billion ($28.2 million) to establish a manufacturing facility in Pune, Maharashtra, focused on producing thin film transistor (TFT) displays for the automotive sector, as announced by executive director Aakash Minda to CNBC. The project has been approved under the Indian government’s Scheme for the Promotion of Manufacturing of Electronic Components and Semiconductors.
The new facility aims to reduce Minda’s dependence on imported displays while enhancing its manufacturing capabilities within India. Initially, it will focus on automotive displays for instrument clusters, infotainment systems, and cockpits. Minda, which already manufactures clusters and display components, plans to cater to both its operations and external customers from this facility.
TFT technology constitutes about 40-45% of the material cost in an automotive display module, largely sourced internationally at present. Minda’s strategy involves localizing assembly processes, progressively increasing domestic production of related components. A complete display module, including TFT, backlight assembly, and cover glass, positions them to offer products for internal use and full modules for automakers.
Aakash emphasized the aim for deep localization and backward integration, asserting that locally designed, developed, and manufactured products would bolster the company’s competitiveness and foster growth. He acknowledged potential international market opportunities but indicated that the immediate focus is on building India’s capabilities to meet domestic demand. Exports might be considered after establishing a solid domestic presence, which he regards as a significant long-term opportunity.
For more detailed information, you can view the original article on Just Auto.
