Haier, the Chinese home appliances giant, plans to invest ₹1,000 crore in India. The investment will occur over the next three years. It aims to expand the company’s manufacturing capacity. Additionally, Haier plans to backward integrate its supply chain. Moreover, the company intends to localize its kitchen appliances segment.
The expansion will be led by Haier’s Greater Noida plant, which will see a ₹400 crore investment. The plant will be expanded to produce more refrigerators, washing machines, and air conditioners. Haier will also set up a new plant for injection molding and sheet metal, which are major input materials for these appliances.
The remaining ₹600 crore will be used to backward integrate Haier’s supply chain. This includes setting up factories to produce compressors, motors, and other components. Haier is also planning to localize its kitchen appliances segment, which currently imports most of its products.
Haier plans to expand its presence in India in order to become the leading home appliances brand. Currently, Haier holds the third position in the Indian market, trailing behind Whirlpool and LG. To achieve its objective, Haier aims to enhance its product range, enhance customer service, and expand its retail network.
The investment signifies confidence in the Indian market. Haier remains optimistic about India’s potential as a key growth market for home appliances, despite the recent consumer demand slowdown. The company is confident that the market will recover in the near future. Haier aims to take advantage of this anticipated growth by positioning itself strategically.
Haier’s expansion in India reflects its dedication to the country. For more than 20 years, Haier has been active in the Indian market. The company has made significant investments in India. This new investment reinforces Haier’s long-term vision for India.
