Chennai, Dec 12 (IANS) Automobile seat belt-maker and Rs.672-crore turnover venture Rane TRW Steering Systems Ltd (RTSSL) will get into manufacturing of airbags at its plant here, the company said Wednesday.
A statement issued by Rane TRW Steering, an equal joint venture between the city-based Rane Group and TRW Automotive of the US, said the firm would expand by manufacturing airbags.
The company said it would initially make 320,000 units per annum and in three-five years the production would be ramped up to 810,000 units.
"The total investment is around Rs.35 crore in the next five years to manufacture both airbags and seat belts," the statement said.
The manufacturing facility will utilise driver and passenger airbag technology developed by TRW in Germany. The airbags will be assembled out of the company's Chennai plant and the intention is to leverage the Rane Group supplier network in a phased manner.