Category — Automobile
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
“We are using technology to create ‘Made for India’ solutions, both on the supply and demand side, right from offline bookings for customers and 2G optimization to local language apps. Several introductions by our competition such as the ride later option, and the cash payment option have already been pioneered months ago by Ola’s technology team,” Jivrajka added.
Backed by investment from Japan’s SoftBank, Ola is a credible competitor in India to California-based Uber.
January 2, 2017 No Comments
AkzoNobel a Dutch multinational company in paints, coatings and specialty chemicals has set up a first-of-its-kind Specialty Coatings production facility and color laboratory in the satellite town of Noida 15 miles from New Delhi, reports BusinessWire, India.
Alberto Slikta, managing director, Specialty Coatings, AkzoNobel, said, “India is a key market for our growth strategy and this facility will enable us to further strengthen our position as a leading producer while supporting the supply network. Additionally, this market shows signs of a high demand for consumer durables and electronics. As demand and volumes rise, we will continue to fortify our footprint in high-growth economies such as India.”
AkzoNobel India has been operating in the country for over 60 years. It currently has six manufacturing sites, two research centers, and a network of over 8,800 dealers and distributors.
December 28, 2016 No Comments