TVS Mobility Group and Palfinger AG have agreed to jointly set up an estimated 350 INR-Crore manufacturing plant in Pune, Maharashtra. The deal was formalised under a Memorandum of Understanding (MoU) signed on Monday, February 23. Meanwhile, the move marks a strategic localisation push for Palfinger’s lifting equipment production in India.
The Pune plant will initially produce more than 1,000 units annually, focusing on truck-mounted cranes and related steel components. These products will cater to domestic infrastructure sectors and export markets in the Asia-Pacific and other regions. TVS manufacturing plant Pune is expected to be operational by 2027.
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The facility will strengthen localisation of lifting equipment production in India. It aims to further reduce import dependence and enable cost savings of up to 30% through local manufacturing. The collaboration also aligns with both companies’ long-term strategy to tap India’s infrastructure growth and expand service and aftermarket support networks across the country.
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