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Magna Steyr announced that it will establish a new engineering R&D base in Punai, India, and fully expand its footprint in India. It is reported that currently there are 70 employees in this research and development base, and Magna Steyr is planning to expand about 200 engineers in the next few months to further enhance its research and development capabilities.
"This new R&D base is a fulfillment of Magna Steyr's commitment to the Indian automotive market and an important part of our global strategy," said Guenther Apfalter, president of Magna Steyr. "In addition, The completion of this base will play an important role in our global and local engineering and R&D."
Magna Steyr's choice to establish a base in the Chaco/Pune area is of strategic importance. It is aimed at the local and overseas automakers, which are rapidly growing in the western Indian automotive market.
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