PALFINGER and TVS Mobility Group have signed amemorandum of understanding (MoU) to formalize and further develop theirexisting collaboration in India. With TVS Mobility Group – a leading providerof end-to-end mobility solutions in the country – PALFINGER aims to enhanceoperational efficiency and strengthen market responsiveness in one of its keygrowth markets as part of its Strategy 2030+. The MoU focuses on supply chaintopics, rentals as well as service network development.

Bergheim/Austria, Mumbai/India on February 23, 2026

Driven by increasing infrastructure andconstruction activities, logistics modernization, and defense requirements,India’s demand for specialized lifting solutions is steadily growing. A marketnot to be missed for PALFINGER. The expanded collaboration with TVS MobilityGroup opens up better market access and prospects. The signing of the MoU marksan important milestone, providing a framework for long-term cooperation andstrengthening PALFINGER’s ability to scale operations and support customers inthe Indian market.

As a leading supplier of automotive components andlogistics solutions in India with more than 25,000 employees, a footprintacross 25 countries and USD 3 billion in collective revenue, TVS Mobility Groupcontributes capabilities across supply chain, mobility infrastructure,dealership and distribution, installation, and aftermarket support. Potentialareas of cooperation include supply chain solutions, free trade warehousingzone operations, infrastructure, rentals, dealership and service networkdevelopment, as well as the exploration of defense-related opportunities.

By strengthening logistics and operationalcapabilities on the ground, the collaboration is expected to enable fasteravailability of parts, streamlined service support, and improved operationalcoordination. A shared focus is to enhance service responsiveness and supporthigher equipment uptime through efficient logistics, infrastructure readiness,and operational execution. Selected joint activities are already underway,including logistics and infrastructure support. Further elements will beoperationalized progressively based on business needs and mutual agreement.

“TVS Mobility brings strong operational presence,infrastructure, and execution capabilities. This makes them a strong partnerfor us all over India. By combining strengths, we are expanding our footprint,improving parts availability and service responsiveness, and building ascalable platform for sustainable growth. This collaboration is a key buildingblock to bring our APAC growth strategy to life as part of our Strategy 2030+,”says Andreas Klauser, CEO of PALFINGER.

R. Dinesh, Director of TVS Mobility Group, said,“This partnership builds on our existing relationship with PALFINGER andreinforces our role as an integrated mobility solutions provider supportingglobal equipment companies in India. By leveraging the combined strengths ofTVS Supply Chain Solutions, TVS Automobile Solutions and TVS Smart Mobility, weaim to enable faster go-to-market, operational efficiency and scalablelifecycle support to support PALFINGER’s growth in India.”

APAC Strategy Brought into Action
In its Strategy 2030+, PALFINGER has defined aclear growth plan for APAC, with India as a key market. With projected revenuesof up to EUR 300 million by 2030, including exports and aftersales, the regionoffers substantial long-term potential and is pivotal to PALFINGER’s globalexpansion ambitions.

To realize this potential, PALFINGER issignificantly expanding its engineering and localization capabilities whilecontinuously strengthening its nationwide partner and service network, ensuringcloser proximity to customers and greater responsiveness to marketrequirements. A major milestone in this strategic expansion was the opening ofthe Global Development Center (GDC) in Pune in December 2025. The centerintegrates Indian engineering expertise into PALFINGER’s global R&Dnetwork, accelerates market-specific product development, and enhancesinnovation capabilities tailored to regional requirements.

In line with the value creation principle ‘in theregion, for the region’, PALFINGER is advancing its plans to establish aproduction plant in India. The recent approval and allotment of the designatedplot in the Ranjangaon industrial zone in Pune marks a significant stepforward. This future plant will enhance local manufacturing capacity, increaseresponsiveness to market requirements, elevate regional value creation, andfurther strengthen PALFINGER’s competitive position in India.