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
Los Angeles-based Hyperloop One‘s chief executive officer Rob Lloyd, senior vice-president global field operations Nick Earle, and executive chairman and co-founder Shervin Pishevar were in New Delhi end February to showcase their ‘Vision for India’ to mark their official launch in the country.
The event convened India’s five semifinalist teams from the Hyperloop One Global Challenge, along with a roster of government officials, media, urbanists, and transportation specialists. The teams shortlisted from more than 100 applications, were AECOM, LUX Hyperloop Network, Dinclix GroundWorks, Hyperloop India and Infi-Alpha. Each put forward a comprehensive and commercially viable transport plan covering economic and policy aspects of their respective cities and regions, reports Mint.
Shervin Pishevar, executive chairman of Hyperloop said, ‘India is an extremely important geography for developing Hyperloop networks and re-imagining how cities and regions work. Prime Minister Narendra Modi’s vision for transforming India and the role he sees for technology in driving this change is indeed remarkable,’ he added.
March 3, 2017 No Comments
Apple Inc., has written a letter to the federal government in India outlining its plans to seek financial incentives in an effort to gain market share in the country where 97% of all smartphones run Android, reports Buzzfeed.
Earlier in June, the government allowed single-brand retailers like Apple to open stores in the country with the caveat that they procure at least 30% of their raw materials from India after the first three years.
Prime minister, Narendra Modi, has been trying to ramp up manufacturing in the country through the “Make In India” initiative, and smartphone makers such as Samsung, Xiaomi, and OnePlus already assemble their phones in India to keep prices down.
With 50 million of the country’s 1.2 billion people owning a smartphone, India’s market is not saturated, yet, and is an attractive market for Apple to see significant growth.
December 20, 2016 No Comments
CNN Politics reports that outgoing U.S. Defense Secretary Ash Carter was in Delhi in the second week of December in a last bid to boost relations with an ally that could prove crucial to U.S.-India defense relations.
December 14, 2016 No Comments
India’s defense ministry sources said that the cabinet committee on security, chaired by prime minister Narendra Modi, has cleared the acquisition of 145 M-777 ultra-light howitzers from the U.S. in a government-to-government deal worth $737 million.
Defense-aerospace.com reports that the deal, which has a 30% offset clause, will be inked within the next two to three weeks. “The Pentagon’s letter of offer and acceptance to India is valid till November 20, but it can be extended for another 10-15 days,” said the source.
Of the 145 M-777 howitzers, 120 will be “assembled, integrated and tested” in India by Mahindra, BAE Systems’ business partner in India. The first two howitzers will be delivered within six months of the contract being signed, and the others will follow at the rate of two per month.
November 18, 2016 No Comments