Spain's auto component manufacturer Gestamp has invested around Rs 260 crore to set up a manufacturing plant in India.
The new facility, the company's third in the country, will be utilised for hot stamping and catering to players like Fiat Chrysler Automobile (FCA), Ford and Tata Motors.
"This launch resonates with our commitment to expand our presence in the Indian market and bring value to the automotive industry through innovative technology," Gestamp India Country Head and President Raman Nanda said in a statement.
The hot stamping technology plant will prove to be beneficial in reducing the overall vehicle weight of passenger cars, while enabling OEMs to better adhere to the country's new crash regulations, emission norms, fuel efficiency mandate and the forthcoming Bharat NCAP, he added.
The plant would employ around 130 people.
Gestamp has invested over Rs 1,000 crore in the country since the group's arrival in 2008.
The Spanish multinational is already working with Ford, Volkswagen Skoda, Renault and Nissan in India.
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