Kurichi, India and Barcelona, Spain – ATS ELGI Ltd, India’s leading garage equipment manufacturer and a wholly-owned subsidiary of Elgi Equipments Ltd, announced its manufacturing agreement with VTEQ, a global leader in vehicle testing equipment based in Spain. With this partnership, ATS ELGI will establish a world-class 7,500 sq ft manufacturing facility to manufacture previously imported vehicle testing equipment at competitive pricing for the Indian market. The equipment includes brake, suspension, slip, and speedo testers, axle play detectors, and steering gear play.
Excited about the partnership, Praveen Tiwari, Managing Director, ATS ELGI Ltd, commented, “We have been maintaining VTEQ vehicle testing equipment in India for Government-run testing centers for over five years as a natural extension of our association with them. For several years, all of these products were imported into the country. With this breakthrough agreement, we will now manufacture proven products in the country and offer them to customers at affordable prices. In addition, ATS ELGi's widespread sales and service network will ensure customers have access to faster procurement of equipment, high uptime, and quick response rates for addressing maintenance and spare parts requirements.”
Pointing out that India was the fifth-largest automobile market in 2020, and the country’s automotive sector, including components, is estimated to be valued at INR 16.1-18.1 trillion by 2026, Dr Jairam Varadaraj, Managing Director, Elgi Equipments Ltd, added, “We’re also witnessing the Indian government introducing key initiatives - the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME), the National Automotive Testing and R&D Infrastructure Project (NATRIP), and the Bharat Stage (BS) VI standards to promote the country’s automobile production and testing. Over the next five years, we expect over 200 testing centers will be set up in the country. We are looking forward to our partnership with VTEQ, which will provide us with an excellent growth opportunity.”
Image Source: ATS ELGI Limited, India