Haier India is investing Rs 1,500 crore in the second phase of expansion at its Greater Noida facility, to accelerate plans for an expanding product portfolio and sales network. The project is expected to be completed by 2025.

The consumer durables firm will set up injection moulding facility and a PCB plant, along with a compressor plant for its cooling products business in active consideration. Haier plans to double the capacity from one million units of residential air conditioning units at present. Similarly, washing machines’ output will be expanded further, from its current capacity of 1.5 million units.

With this, the Greater Noida facility will be positioned as a hub for the domestic market as well as exports to Sri Lanka, Nepal and Bangladesh.

The current outlay is part of Haier India's earlier investment commitment of around Rs 3,100 crore, and the overall objective is to achieve 33 percent growth in turnover to Rs 8,000 crore in 2023.

The company's business driver is its air conditioners (AC) business, which serves as a growth engine for flat panels, refrigerators and washing machines. It will explore allied segments such as cold chain solutions and commercial air-conditioning in the future, by leveraging technologies aiding backward integration and manufacturing.

Moreover, the company is working to increase the localisation of the products by investing in the component manufacturing ecosystem for increased efficiency and improved quality control.