New Delhi: Auto parts supplier Delphi-TVS Diesel Systems Ltd, a joint venture between the US-based components firm Delphi Automotive Llp and India’s TVS Group, said on Wednesday that it will double revenue to around Rs1,000 crore in three years.
“In the current fiscal (2009-10), we are expecting revenues of about Rs500 crore. We are looking to double it to Rs1,000 crore within three years,” Delphi-TVS managing director T.K. Balaji told reporters at the Auto Expo.
The company, which makes fuel injection systems and rotary pumps for cars and trucks, is investing Rs350 crore to build a plant near Chennai to make common rail systems for diesel engines.
Delphi-TVS already operates three factories.
“We have already invested about 80% of that amount and will invest the remaining about Rs75 crore this year,” Balaji said.
Delphi said India was a fast growing auto market for the company and the Indian joint venture was working on next generation systems that meet eco-friendly emission standards. Delphi owns 52% in the venture.
Delphi-TVS supplies common rail systems and rotary systems to automobile companies meeting Euro4 and Euro5 emission standards and is readying itself to meet the technology need of companies to conform to Euro6 and Euro7.