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Auto parts manufacturer Rane (Madras) Ltd (RML) is set to establish a greenfield facility in Aguascalientes, Mexico, focusing on manufacturing steering and suspension components for passenger vehicles. The investment for the initial phase is $3 million, with plans to increase it to $6 million over the next 12 to 18 months. This marks Rane (Madras)'s first plant overseas and is undertaken by its wholly-owned subsidiary, Rane Automotive Components Mexico (RACM).
The move is aimed at addressing the demand for steering and suspension components in the North American region, capitalising on the trend of parts localisation driven by the United States-Mexico-Canada Agreement (USMCA). The proposed facility has already secured an order for supplying inner and outer ball joints for an upcoming electric vehicle platform from a leading American Original Equipment Manufacturer (OEM), scheduled for launch in 2025 with a peak annual sales value of ₹80 crore.
RACM is in discussions for additional opportunities worth ₹250 crore for various OEMs like Ford, GM, and Honda in the North American market. The strategic choice of Aguascalientes is attributed to its central location in Mexico, being part of the Bajio region and home to major OEMs such as Nissan and several top-tier automotive suppliers. The new facility is geared to meet the demand for inner and outer ball joints in the growing North American market, complementing RML's existing supply network from Indian facilities to global locations like Mexico, China, and Central Europe.
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