French automotive component maker Valeo on Wednesday said it will invest over Rs 2,150 crore in India and treble its annual sales in the country to around Rs 7,510 crore by 2028.
BMW's plant in Chenna now has 50 per cent localisation.
'Localisation saves a lot of time and cost for them. Keeping an eye on a long-term market, this is the best way these car-makers can build momentum for their brands.'
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