International Automotive Components Group (IAC) broke ground in the Pune district of India on a 150,000-sq-ft manufacturing and engineering operation, supplying customers including Mahindra & Mahindra and Volkswagen. IAC will invest $25 million in the site, which will focus on vehicle interior components and systems, including instrument panels, cockpits, and door assemblies for Indian domestic market passenger cars and medium/heavy duty trucks. The operation is scheduled to be completed by the third quarter of 2009. In early 2008, IAC opened a 12,000-sq-ft engineering and administrative facility in Pune. According to KPMG, the Indian automotive industry is worth around $34 billion and accounts for roughly 5% of the country’s GDP. India produces more than 1.5 million vehicles annually and employs more than 13 million.
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