Munjal STP Industries, a Hero Motors-STP Group JV, begins Rs 260 Cr Ludhiana facility, creating 400 jobs and boosting Punjab’s auto manufacturing sector.
Munjal STP Industries Limited, a joint venture between Hero Motors Limited (“HML”) and Vermogensverwaltung Plettenberg GmbH and CO KG, along with its group companies (“STP Group”), held a groundbreaking ceremony in Dhanasu, Ludhiana, to inaugurate its production facility. This will result in 400 jobs and an investment of Rs. 260 crores for Punjab in the first phase through a joint venture.
Along with a number of other dignitaries from Punjab’s government and industry , the vice-chairperson of the Punjab Development Commission, and Shri Sanjeev Arora, the province’s minister of industry and commerce, attended the groundbreaking event.
For Punjab’s overall development, Minister Arora stated that the Punjab government is diligently collaborating with industry. In March 2025, a joint venture agreement was signed between HML and STP Group to design, manufacture, and market forging components for the automobile industry. The STP Group is a well-known German forging expert that manufactures high-precision forged and machined parts for industrial and automotive uses at six locations around Germany. HML is a technologically advanced automotive components firm that specializes in highly designed powertrain solutions and alloys & metallics. Its manufacturing facilities are located in Thailand, the United Kingdom, and India, and its research and development centers are located in both countries.
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Proponents of joint ventures have been guaranteed by Arora & Seema that the Punjab government will fully cooperate and grant approvals in a timely manner. Pankaj Munjal, the chairman of HMC, commended the Punjab government for all of its assistance and welcomed the new policies that are being planned.
“Munjal STP Industries Limited embodies our determination to enhance manufacturing in India by working with STP Group,” stated Pankaj Munjal, Chairman of HML. In Hero Industrial Park in Ludhiana, the facility is being established near other significant EV and automotive businesses as Spur Technologies Private Limited, HYM Drive Systems Private Limited, and HMC HIVE.
“The new facility will further strengthen our Powertrain Solutions manufacturing footprint, building on our capabilities in supplying gears and transmission solutions to global customers across automotive, aerospace, defense, and industrial segments,” said Amit Gupta, MD and CEO, HML. For complex components, it will have semi-automatic forging lines with an emphasis on cost effectiveness and exacting quality standards.
STP Chairman and CEO Cornel Mueller continued, “Our collaboration with HML is a major step in expanding STP’s footprint and utilizing India’s advanced manufacturing ecosystem. By combining STP’s high-precision forging experience with HML’s manufacturing and engineering skills, the partnership aims to promote technological interchange and operational excellence between our teams in Germany and India.
Pankaj Munjal, SK Rai, Ashwairya Munjal, Aditya Munjal, and Amity Gupta were among the people who represented Hero Group.