Veira Group invests Rs 200 cr in its second manufacturing facility in Noida
Published on : Thursday 29-09-2022
With this step, the Group can manufacture one LED TV every 5 seconds, becoming no.1 ODM manufacturer in North India.
Delhi, 26th September 2022: Veira Group, one of the largest ODM Manufacturers for Smart TVs, invests Rs 200 crore at its new manufacturing plant in Greater Noida. The company has already invested 120 crore and the rest to be phased in the next 6 months. This is the second manufacturing plant of Veira Group in India, the first being at sector 63 in Noida as well.
With the new manufacturing facility, the company increases its total production capacity of Smart TVs by more than 3 million units annually, amounting to a total of 4 million LED TVs per year, from the present 10 lakh units annual capacity. Along with increased capacity, the investment also prioritizes R&D and innovation to create intuitive TVs that meet the needs of the 'new Indian customer.'
The plant currently has 400 000 square feet dedicated to LED TV production. In addition, the plant has the largest AHU-based (10K property) clean room in North India for manufacturing LED TV modules. To manufacture its LED TV products, the plant has 5 zero handling completely automated high aging FA lines and 5 LCM lines. The plant also has a number of high-reliability machines that serve as international benchmarks for Indian manufacturing quality. Furthermore, the PCB assembly capacity of the plant is being upgraded to produce 20K LED TV mainboards and PCBs per day. Veira Group can now produce one LED TV every 5 seconds with this new setup. This step will propel Veira Group to the forefront of the television manufacturing industry in North India.
According to the new plant layout, the company intends to hire 1000 people, creating new job opportunities. This includes job opportunities for R&D personnel, management personnel, and skilled workers.
Sharan Maini, Director Operations, Veira Group said, "It's about time that Indian manufacturing takes the next step to compete with global manufacturing by having large-scale and automated production plants. With the support of the Government of India, we are confident that India will become a global hub for the production of high-quality electronic products, and we at Veira are prepared with our new infrastructure to capitalize on this opportunity."
"We believe we will have captured more than 15% of the market by the end of 2023. The new plant and R&D Centre will help with the production of technologically advanced products and the introduction of new manufacturing lines is in line with the Make in India initiative." he continues.
Veira Group is the modern Design Manufacturer, focusing on Design and R&D for the LED TV as a product, as opposed to other manufacturers, who have focused solely on assembly and screw technology with the dependability of Chinese manufacturers.