Xin Wheels India Ltd (WIL) has taken a significant step toward expanding its global footprint by investing in its newly formed European subsidiary.
According to a regulatory filing on Monday, July 14, the company has infused €50,000 into WIL Europe GmbH, a subsidiary based in Germany, marking its formal entry into the European market.
The entity, which is still under formation, will serve as WIL’s base for conducting automotive and non-automotive business activities, as well as supply chain management and allied services across Europe.
The investment was made via cash consideration for 50,000 equity shares, each with a face value of €1, the company disclosed.
WIL, a manufacturer of steel wheels and cast iron wheels, stated that the move aligns with its strategy to expand its business presence beyond India and tap into opportunities in the European industrial and automotive sectors.
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