Haier Expands Lineup With New TVs, Robo-Vacuum Cleaners, More As It Completes 2 Decades In India

The company revealed plans for an additional investment of approximately Rs 800 crore to further expand its manufacturing capabilities locally.

The large appliances maker also unveiled a range of smart innovations including robo-vacuum cleaners, smart kitchen appliances.

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Home appliances major Haier on Wednesday marked its 20th anniversary in India and revealed its plans of expanding local manufacturing and becoming the second-biggest appliance maker in the country. Haier India also expanded its portfolio of products with the unveiling of OLED and QLED TVs, air conditioners, smart convertible refrigerators, front load washing machines, commercial refrigeration solutions as well as commercial air conditioners. The large appliances maker also unveiled a range of smart innovations including robo-vacuum cleaners, smart kitchen appliances, microwaves, and water heaters, among others.

The company revealed plans for an additional investment of approximately Rs 800 crore to further expand its manufacturing capabilities locally. With this latest investment, Haier's total investment in the Indian market now stands at around Rs 3,000 crore.

Local Manufacturing Key In Haier India's Phase-II Expansion

"In total, we have invested Rs 3,000 crore in the country. The Phase-II expansion in India, which includes an investment of Rs 800 crore, is entirely for expanding local production capabilities. We never focused on exports, but only in the last one year has our capacity increased and now, we are looking at export opportunities. Domestic manufacturing was enough for us," said NS Satish, President, Haier Appliances India.

"We export appliances to neighbouring countries, Africa and the Middle East and as we expand, we are also exporting to mature economies like New Zealand and Australia. However, the volume of export to these countries is low," Satish added.

The company has a rough headcount of 12,000 employees with a dedicated research and development (R&D) facility in Noida, Uttar Pradesh, for its lineup of refrigerators. The company employs an additional 5,000 staff for pre and post-sales services in the country.

Haier India, with a strong 25 per cent Compound Annual Growth Rate (CAGR) over the last six years, anticipates achieving a revenue of Rs 8,500 crore by the end of this fiscal year, with a target to surpass the Rs 10,000 crore mark by FY25. It is pertinent to note that India stands as the third-largest market for the Haier Group globally, after China and the US.

The company operates two manufacturing units in India, located in Pune, in Maharashtra and Greater Noida, in Uttar Pradesh.