While emerging markets have traditionally been recipients of the older cast-offs from the developed markets, in India it is completely different.
Hopes to launch e-scooters within two years
GM India is working on launching a BS-IV variant of the car, but is in no hurry.
Bosch Rexroth (India) Ltd, a subsidiary of German automation giant Bosch Group, a drive and control solutions for industrial applications, has bought private land near the Tata Nano site in Sanand recently with plans to set up its second manufacturing unit in the state.
In the past one year, the share of state-run banks in auto finance has increased significantly, and in some cases nearly doubled, on the back of competitive rates offered by banks such as State Bank of India.
In March this year, the anticipation of Nano launch coupled with a sluggish demand had made a sharp dent in used car prices by 25-30 per cent. Dealers had feared a further dip in prices by around 10 per cent.
The company plans test production of 50-60 cars per day from January.
Nearly 60 vendors will move to the vendor park at Tata Nano's Sanand plant by March next year. The rollout of the car is set for the January to March quarter, and vendors will feed the plant at existing locations till they shift.
The company has been in discussions with vendors who are moving from Singur to Sanand to support them with mutually acceptable terms, which will be implemented.
Honda Siel Cars India is planning to source steel from India for its local operations and is in talks with Tata Steel. A Tata Steel spokesperson confirmed that the companies were in discussions. Currently, Honda sources steel plates from Thailand for its Greater Noida facility. Honda models, like the City and Civic, have 74 per cent localisation, while the newly launched hatchback, Jazz, has 77 per cent local content.
The project was expected to create employment in excess of 10,000 jobs among vendors and service providers in the vicinity of the plant. When Tata Motors announced the small car project in May 2006, it promised to employ 2,000 people directly initially.
The product is currently undergoing testing at the Tata Motors European Technical Centre, the company's research and development outfit in UK, and at the Engineering Research Centre at Pune.
Leading Indian utility vehicle player Mahindra & Mahindra is likely to buy out its local partner in Mahindra South Africa, which is currently a 92 per cent subsidiary.
Tata and L&T's upcoming Dhamra Port is already taking away business.
Maruti has shortlisted 10 candidates so far. Tata Motors declined to give details, but confirmed it is looking at recruiting specialists for different functions of product development, given their research and development expansion plans in India. Both companies are looking at people with relevant knowhow on emission and safety norms in Europe and the US.
Gurgaon-based MDLR Airlines is planning to make Kolkata the hub for its North East operations, as it plans to fly to eight new destinations within this year.
Nano vendors say if all-India bookings cross 500,000, Tata Motors may have to explore the option of having a satellite plant to its present mother factory at Sanand near Ahmedabad. Many who had taken up space at the vendor park in Singur, the centre of the main dispute with the give-us-our-land-back agitationists led by the opposition Trinamool Congress, are hanging on in this hope.
The share of government banks in auto finance has increased significantly in the last few months. In some cases, it has nearly doubled. The reason: these banks are offering cheaper loans than their private sector counterparts.
Leading vendors of the Tata Motors' Nano project intend to set the ball rolling to return their land in the ancillary park area at Singur and said they aim to begin talks with the West Bengal Industrial Development Corporation on the issue immediately.
Singur farmers did not want the Tatas to leave as they were upset only with the government package, and today the same farmers were not in the mood for any agitation, Anuradha Talwar, the president of Paschim Banga Khet Majoor Samiti, said in Kolkata on Monday.
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