Category — Automobile
Germany’s Volkswagen and India’s Tata Motors signed a memorandum of understanding to develop components, and possibly new vehicles. Volkswagen’s Skoda Auto AS will join the project on behalf of the German automobile group. Volkswagen CEO Matthias Mueller said the partnership would help it “achieve sustainable and profitable growth in very different parts of the world.”
Toyota is in talks to form a business partnership with Japan’s Suzuki, in areas such as green vehicles, safety and information technologies, and mutual supply of products and components. Toyota President Akio Toyoda and Suzuki chairman Osamu Suzuki met with Prime Minister Modi. According to a statement from the prime minister’s office, the executives discussed manufacturing opportunities in India, and the possibility of exporting cars from the country, reports CNN Money.
Toyota has taken full ownership of small car specialist Daihatsu Motor Co., and the latter’s products are expected to be introduced in India in 2019.
March 14, 2017 No Comments
Germany-based Mercedes Benz introduced the 2017 Long Wheel Base version of its popular sedan, the Mercedes-Benz E-Class in India this month. It is the first India-specific product from Mercedes-Benz; it took 48 months for its development and is made in India for sale in India. The gasoline version in Mumbai comes at a price tag of Rs. 5,600,000 ($85,120) and the diesel version is priced at Rs. 6,900,000 ($104,880).
March 2, 2017 No Comments
French automobile conglomerate PSA Peugeot Citroen (also known as the PSA Group), finalized a $12 million deal to acquire Hindustan Motors from parent company the C.K. Birla Group.
Once known as the ‘King of Indian Roads’, the Ambassador car brand is the most iconic car of India. Modeled after the British car Morris Oxford III, this car was first manufactured in 1958, and in 2014 production was shut down.
The PSA Group, which owns the Peugeot, Citroen, and DS Automobile marques, established a partnership with the C.K. Birla Group in January 2017 to enter the Indian automobile market. The joint venture, with a reported initial investment of $112 million, will see the French company set up a factory in Tamil Nadu to manufacture around 1,00,000 vehicles each year, reports Your Story.
February 16, 2017 No Comments
Chennai India-based Sundaram Clayton Limited, a leading supplier of aluminum die castings to the automotive and non-automotive sectors, announced that it will establish its first American unit in Dorchester County, South Carolina, at an estimated cost of $50 million.
The company has acquired 50 acres of land for its new facility, where it will manufacture aluminum high-pressure die-cast products and permanent mold gravity cast parts for its customers. The Indian Express reports that construction work is expected to begin by April this year and the first production line is projected to be operational by the end of next year. The factory will create 130 new jobs over the next five years.
“The United States has always been an important market for us,” Lakshmi Venu, Sundaram-Clayton’s managing director, said in a statement. Venu said the company decided to invest in South Carolina to better support its U.S. customer base.
February 10, 2017 No Comments
The growth momentum is likely to continue because of future opportunities. Indian Railways, for instance, plans to add higher axle freight wagons, high-speed passenger coaches, and several metros in different cities. State-owned Hindustan Aeronautics will require bearings for its light combat helicopters and advanced light helicopters, reports the Economic Times.
February 9, 2017 No Comments