Eight billion euros to expand its footprint in India, the massive German auto component company Brose India Automotive Systems is looking into partnerships, mergers, and acquisitions as well as joint ventures.
The CEO of Brose Group, Dr. Philipp Schramm, said that although his organization is open to growth, it will be selective and concentrate on “smart and wise moves.” He explained that it will depend on the particular target and opportunity, but he did not provide a set “war chest” or budget for investments. The top executive underlined that finding the correct fit is more important than simply allocating cash.
The foundation of Schramm’s approach is Brose’s extensive background, which includes prosperous joint ventures with family-run businesses in Turkey and South Africa. The business is looking into comparable prospects in the West. He underlined how critical it is to match these family-owned businesses‘ growth and value-development philosophy.
Schramm stated that Brose had so far expanded naturally in India. Still, the time has come to make “bolder decisions” and go forward in the market.
Brose India is working hard to grow and become profitable, but the company has been up against obstacles like a slump in demand and difficulties with regulations ever since the outbreak. Brose India declined to offer any long-term financial recommendations.
The core of Brose India’s strategy is the introduction of novel, in-demand products that address the changing demands of the Indian automotive industry. Schramm emphasized that the business is placing a significant wager on motorized retractables and electric liftgates, particularly given the tremendous rise in popularity of SUVs in the nation—which are perfect for these cutting-edge features.
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