The company plans to pour Rs 22 billion and employ about 8,000 people in the new industrial park
Chinese electronics major, TCL has recently inaugurated its first integrated smart manufacturing industrial park in Tirupati, India. The plant will reportedly be TCL’s largest production base outside China and will utilize the region’s localized manufacturing knowhow as part of its long-term strategy in the country and the ‘Make in India’ movement.
Sources close to the matter state that the industrial park will consist of two major manufacturing facilities including a panel module factory, being the firm’s first production unit outside China. The unit will be owned by TCL’s panel arm, CSOT (Shenzhen China Star Optoelectronics Technology Co., Ltd.).
Reportedly, the plant will manufacture displays for mobile phones and TVs, with a production capacity of 30 million 3.5-inch to 8-inch mobile screens and 8 million 22-inch to 55-inch TV screens a year and will commence production in February 2020. In addition, the park will also include a smart TV manufacturing facility, owned by the TV arm, TCL Electronics, which will produce 6 million 32-inch to 65-inch TV sets a year, anticipated to begin production in December 2019, cite sources.
Tomson Li, Chairman & CEO, TCL Corp. India, was quoted saying that India is a strategic market for TCL and is a significant milestone in the company’s globalization plans. He said the project will strengthen TCL’s supply chain integration capabilities in India and will benefit its local consumers, providing them with superior quality products at better value.
According to Business Standard, the company proposes to invest Rs 22 billion and employ about 8,000 people in the facility. TCL Industries Holdings’ Chairman, Li Dongsheng had also visited the site for the park’s inauguration, claims source.
Reports cite that sales of TCL electronics have grown by 120% a year in India. The products are now available in 3,000 stores across the country through over 30 channel partners, including Reliance Digital, Croma and Vijay Sales.