Haier India plans to invest Rs 1000 crore in Noida campus to increase ACs production: Report

Ahead of the summer season in India, appliance manufacturer Haier India is reportedly planning to invest Rs 1,000 crore in the Noida campus to ramp up production of air conditioners (ACs) to 40 lakh units. The company is also planning to establish new manufacturing units, expected to be completed by 2026.

NS Satish, President of Haier India told Moneycontrol that the company has invested Rs 1,400 crore in Phase 1, comprising Rs 200 crore for injection molding, Rs 100 crore for PCB manufacturing, and Rs 700 crore for AC plant.

Satish said that the PCB manufacturing unit's operation will begin in October this year. He added that the expansion will generate 3,500 jobs, taking up the workforce count to 7,000.

India's AC market is booming with a penetration of only 11 percent, Satish anticipated an growth in the AC deployment in the coming year.

"We have a capacity of 1.5 million nAC units at the Noida plants, which will reach 4 million units with the new factory," Satish said.

At present, Haier India's Noida plant manufactures ACs, semi-automatic washing machines, and refrigerators.

The executive said that the company closed over $1 billion in revenue in 2024 and is expecting Rs 11,500 crore this year.

"The first two months have been good as we have grown at 36 percent," he said.

Haier India is in the third spot in the appliances league in the country after LG and Samsung.

He revealed that Haier's sponsorship in the ICC Champions Trophy 2025 yielded good results for the company. He added that the company will continue marketing investment during the IPL as well.