New Delhi: Auto component maker Lucas-TVS will invest up to Rs. 400 crore by next two-three years in order to swell capability and product growth. It is also planning to establish new constructing units in Indonesia and Thailand.

Arvind Balaji, Lucas-TVS Vice- President, said, “We will invest up to Rs. 400 crore over the next two-three years in R&D, manufacturing and capacity building.”

Lucas-TVS already has seven operable plants, comprising one in Iran, is also thinking over setting up new plants in Indonesia and Thailand.

Mr. Balaji told the company had commenced production in the Iran plant through a joint venture with an investment of Rs 16 crore in which it holds the majority stake.

To spread out its existence, the company would launch its products in Germany by next two years, besides anticipating inorganic growth chances.

N. Ravichandran, company President (Operations), “Lucas-TVS is looking out for domestic and international acquisitions.”

However, Mr. Ravichandran declined to give details of the company’s acquisition plans in future. On the domestic front, Lucas-TVS is about to frame-up a plant in Singur to supply parts to Tata Motors for its Rs. 1 lakh car.

“We have acquired land in Singur for setting up a plant and will supply starters and alternators to Tata Motors’ Rs. 1 lakh small car,” Mr. Ravichandran added.

The company that had revenue of $250 million in the last financial was looking to double up the proceeds in the next four years.