Gurugram-based Modern Automotives, a leading supplier of powertrain, suspension, and chassis components for two-wheelers, passenger vehicles, and commercial vehicle OEMs, is targeting a 25 percent CAGR by FY2031. It recently began manufacturing front fork assemblies for scooters and motorcycles as part of a strategy to evolve into a systems integrator, thereby increasing the value of its offerings.

To enhance manufacturing capabilities, the company is setting up a cold-forming facility at its Punjab-based mother plant in Mandi Gobindgarh. This facility will produce cold-formed splined shafts, toothed gears, heat sinks, and deep-extruded transmission shafts for the automotive, aerospace, defence, electronics, and thermal engineering sectors. The company plans to scale its forging capacity from 36,000 tonne to 60,000 tonnes by FY2031.

Modern Automotives has also secured a Rs 150 crore export order from BMW Germany to supply 2.5 million differential pinion shafts for EV powertrains by 2034.