PPAP Automotive is buzzing in trade; the stock is up 250 percent this year. In an interview to CNBC-TV18, Abhishek Jain, CEO & MD of the company spoke about the latest happenings and gave outlook for the future.
We have been focusing on developing Hyundai as a customer for the past six years and this year we had some breakthrough with them, so soon we will start supply for their current model, said Jain.
He further said that we are trying to replace import substitute for them.
Eon is the first model (vehicle) which Hyundai is experimenting for localisation with us and if we matchup with all the expectations of Hyundai then they will start giving us more models to localise, he added.
We are continuously scouting for new business opportunities with addition of new customer and products, added Jain.
Talking about utilisation, he said our current utilisation is at 80-85 percent.
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