For all petrol heads out there
They have envisaged a higher investment of Rs 4,500 crore ($1,140 million) over seven years through their 50:50 venture for creating a capacity to produce four lakh cars per annum.
Last year, when Mahindra & Mahindra (M&M) was part of the three-way venture, an investment of Rs 4,000 crore was envisaged for the same capacity. Now, besides the higher investment, the partners expect their suppliers to pump in an investment of Rs 2,000 crore. More
Courtesy: www.indiacar.net
Nissan and partner Renault on Friday signed an agreement for a $1.0 billion car and engine plant in southern India after a local partner dropped out, and expect to commence production from 2010.
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Courtesy: economictimes.indiatimes.com
Renault has a 44% stake in Nissan and their alliance is the number three car grouping in the world after General Motors and Toyota Motor. They signed a memorandum of understanding with the government of Tamil Nadu for a plant near Chennai. More
Courtesy: www.indiacar.net
The company, which was earlier planning to roll out a 3,000 dollar car, has scaled down the targeted price with its Chief Executive Officer Carlos Ghosn hinting that the expected cost would be around 2,550 dollars. More
Courtesy:www.indiacar.net
Bajaj Auto and Renault-Nissan are likely wrap up the ongoing feasibility study and joint venture talks on the ultra low-cost car by the end of January. According to auto industry sources, the talks are progressing and there have been some ‘high-level’ visits from both sides.
“The final decision will come by the end of January,” said a top source. The discussions between Renault-Nissan and Bajaj Auto cover everything from badging, distribution, sourcing to investments, plant sites and engineering decisions. More
Courtesy:economictimes.indiatimes.com
German auto major Daimler will hold 60% stake in its commercial vehicle joint venture in India with the Hero group holding the remaining 40%. The total investment in the project will be around Rs 3,500 crore, although the final numbers are still being worked out. Daimler’s investment in the venture will be around Rs 1,650 crore. This pegs the equity component of the Rs 3,500-crore project at around Rs 2,750 crore.
While Daimler and Hero had announced plans for a JV earlier this month, but they did not give out the details then. These figures were communicated by the German company to the government last week. The proposed Rs 3,500-crore investment makes this JV the biggest of the four commercial vehicle partnerships announced this year, namely Tata-Iveco, Nissan-Ashok Leyland and Volvo Eicher. More
Courtesy:economictimes.indiatimes.com
Nissan is eyeing the fast-growing super-luxury segment and is planning to bring its popular Infiniti range to India. The Infiniti brand, famous for its luxury sedans, coupes and sports utility vehicles (SUVs), will be pitted against the DiamlerChrysler and BMW range in India, even as Chrysler, Lexus, Alfa Romeo and Maserati are also expected to hit the Indian market sometime next year. More
Courtesy:economictimes.indiatimes.com
In a third major joint venture that the last six months have seen on the commercial vehicles front, the German truck maker Daimler on Friday announced a joint venture with the Hero Group for the business. This would also be the second joint venture in the week with Eicher Motors Ltd tying up with the Swedish automotive giant, Volvo. In August this year, Ashok Leyland tied up with the Japanese major Nissan for light commercial vehicles.
The joint venture between the Hero Group and Daimler Trucks would include manufacturing of light, medium and heavy commercial vehicles for which a proposal will be submitted to the Foreign Investment Promotion Board. More
Courtesy:www.indiacar.net
Daimler AG is running out of options as it seeks a local partner to crack India’s fast-growing truck market, but a Hero may yet come to its rescue. Daimler, the world’s largest maker of medium- and heavy-duty trucks, is targeting emerging markets and has said it had found a partner for India.
On Thursday, a spokesman in India reiterated Daimler was very close to making an announcement after local media said a deal may be finalised in a week. More
Courtesy:economictimes.indiatimes.com
It is yet another marriage of frugal engineering with high technology. The joint venture announced on Monday between Swedish multinational, Volvo A.B., and Eicher Motors follows the same pattern as three other partnerships that were forged in the recent past ? Ashok Leyland-Nissan Motors, Mahindra & Mahindra- ITEC, and Force Motors-MAN A.G.
The mantra behind these joint ventures was efficient, low-cost manufacturing using high-end global technology and the Volvo-Eicher tie-up is no different. For Volvo, Eicher was the best and possibly, only effective pick available in the high potential commercial vehicles market, already the fourth largest in the world. More
Courtesy:www.indiacar.net
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