Lava International plans to invest approximately Rs 11 billion over the next five years to deepen its presence in the electronics components ecosystem, in line with the government’s Make in India initiative. The investment will be directed towards setting up manufacturing facilities for camera modules, display modules, enclosures and multi-layer printed circuit boards (PCBs), Lava executive director and chief manufacturing officer aid at the inauguration of the company’s new mobile charger manufacturing facility in Noida.
He said the company has the capacity to manufacture 40 million mobile phones annually and has decided to produce all critical components in-house to enhance value addition. As part of its diversification strategy, Lava has also begun production of designed-in-India mobile chargers using largely locally sourced components, with the cost of in-house charger production around 20 per cent lower than units previously procured externally.
Lava International currently employs over 3,000 workers at its manufacturing facility and has an annual production capacity of 20 million units. The company is now expanding into component manufacturing with an annual capacity of nine million units.
