TVS Mobility Group and Austrian lifting solutions major Palfinger have entered into a strategic partnership to expand operations in India. As part of the collaboration, Palfinger will invest €30 million, approximately ₹350 crore, to establish a new manufacturing plant and engineering hub in Pune.
The facility is expected to become operational by the end of 2027. It marks Palfinger’s most significant localisation initiative in India since entering the market in 2007.
Under the agreement, TVS Mobility Group will serve as Palfinger’s end-to-end mobility partner in India. The group will provide integrated support across supply chain, logistics, sales, service, spare parts distribution and aftermarket operations. The partnership goes beyond a traditional distribution model, focusing on uptime, service responsiveness and solutions for customers in remote and infrastructure-heavy regions.
“This partnership is about coming closer to the customer,” said Andreas Klauser, CEO of Palfinger, adding that India represents the company’s single-largest growth opportunity under its ‘Strategy 2030 plus’. Palfinger, which reported global revenues of about €2.5 billion, expects India to contribute a double-digit share of global revenues over time.
The Pune plant will have an initial annual capacity of more than 1,000 units, mainly truck-mounted cranes and key steel components. Production will serve both domestic demand and export markets across Asia-Pacific and other regions. The first phase is expected to create around 200 jobs, with provision for future capacity expansion.
India’s infrastructure growth across railways, metros, highways, housing, waste management and defence has driven the investment decision. Currently, most Palfinger equipment in India is imported and assembled locally. With localisation, the company expects cost savings of up to 30 percent, potentially widening adoption.
Alongside manufacturing, Palfinger has set up a global engineering centre in Pune in partnership with L&T Technology Services to support product development for global markets.
The exclusive partnership for India-made products has no fixed end date and does not involve equity participation, reflecting a long-term strategic alliance.
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