Tuesday, February 11, 2014
As part of our sustained efforts to extend our global network of operations and allow a wider range of customers to access our products, INOVIT has recently joined forces with Neo Wheels. With the help of our new partner, we are currently setting up a new manufacturing facility in Mumbai, the heart of India’s fast growing economy. We aim to double our production capacity in India by installing two new casting machines and replacing all existing equipment with the most up to date machinery in our industry.
By opening a facility within India, we are able to avoid the costly fees imposed by anti-dumping laws, which heavily discourage the import of foreign goods. As the largest manufacturer of aftermarket wheels in India, this puts us at a significant advantage in our industry and allows us to effectively dominate the domestic market.
Furthermore, while anti dumping duty prevents Chinese products entering the European and Australian market, the same restrictions do not apply to goods manufactured in India, which has resulted in extremely high demand for INOVIT products from our Indian facility in these locations. At present, our order books are full for the next 18 months, which is why we are keen to at least double our current capacity. After the expansion of our production capacity in India, we will be able to manufacture an additional 360,000 wheels per year to supply Indian, European and Australian demands.
Being at the forefront of any industry means acquiring in-depth knowledge of your target market, which is why we have decided to tailor some of our products to suit the needs of our Indian consumers. We believe this approach will help establish INOVIT as a dynamic, global brand, capable of adapting to a variety of market conditions.
INOVIT NEO is headed by Mr. Sanjay Kacheria, who founded Neo wheels in 1996 after gaining extensive experience in production and marketing in the U.S. at American Racing Inc. Having sourced equipment within the U.S., Kacheria was able to utilize India’s inexpensive labor and production costs to manufacture quality aluminum alloy wheels which could be sold to the Indian market.
We are confident that by combining the knowledge and skills found within the INOVIT and Neo team, we can foster a spirit of collaboration and produce even stronger, better performing and more beautiful designs in the future.