Wheels India has decided to close down its operations at Pantnagar. This unit has contributed Rs 198.90 crore, which is 9.10 per cent of the total turnover in 2016-17. The unit will be closed before the end of 2017-18.
Meanwhile, the company has formed a JV with Japan-based Topy Industries to set up a plant Gujarat.
Wheels India is company promoted by the TVS Group, India’s largest auto component manufacturers. It is one of the largest steel wheel manufacturers in the world.