US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
In spite of straddling the market with multiple competitively priced models, GM was pushed to the fringes by the rivals from Japan and Korea.
The $100-billion SAIC would have a dedicated manufacturing facility in India, and would be the first Chinese automaker to do so.
With all major US export-oriented drug manufacturing plants in the country up for inspection in 2022, some estimates peg that at least 20-30 per cent of the new product launches lined up for the US will be subject to on-site inspection by the US Food and Drug Administration (USFDA). The last two years saw limited physical inspections due to travel restrictions during the pandemic. "Pre-Covid, the frequency and number of inspections of manufacturing plants in India by USFDA had increased significantly," analysts from ICICI Securities Research noted. "With growing ANDA filings, especially for complex products. "We expect this trend to return with the environment normalising," analysts from ICICI Securities Research noted.
Workers resorted to strike at the Halol facility in Gujarat that has an installed capacity of 85,000 units a year.
Ceat, the tyre manufacturing company of the Rs 16,000-crore RPG Group, will double the capacity of the radial unit it has set up in Halol, Gujarat, with an additional investment of Rs 630 crore.
Villagers from Shivrajpur, Pavagadh and Kalol who were going to Halol town to attend a function to pay homage to the Godhra carnage victims, raised anti-minority slogans while passing through a sensitive area in Halol.
The recall was initiated by the company on January 21
A Godhra court Friday acquitted 52 accused in a post-Godhra riot case of Halol taluka, Panchmahal district, Gujarat.
Sun Pharma stated the company wanted shareholders' approval to "issue, offer and allot equity shares or non-convertible securities, other than warrants, up to an amount of Rs 12,000 crore ($2 billion), to qualified institutional buyers pursuant to a QIP."
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
General Motors India on Tuesday introduced a new version of its multi-utility vehicle Chevrolet Tavera, the Elite range even as the company prepares to rev up capacity at its Halol plant to meet rising demands.
General Motors India on Wednesday said its sales grew 42 per cent in February 2005 and announced that expansion of its Halol plant would be completed later this month.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
Sun Pharma expects synergy benefits by next fiscal.
Talks between the management and workers on strike have so far failed to yield any result and even the threat to terminate jobs have not made the nearly 200 agitating employees return to duty.
Ceat, the country's fourth biggest tyre producer, is charting expansion plans for the international market, with launches planned in various countries, including the US, the world's biggest tyre market.
General Motors India, which was converted into a 50:50 joint venture between General Motors and SAIC last year, will be making a significant investment in terms of 'millions of dollars' at its Halol plant in Gujarat.
The company, which plans to launch three light commercial vehicles from the stable of its Chinese partner Shanghai Automotive Industry Corporation during the same time period, also said it has lined up to introduce 14 new variants of its existing car models.
China's biggest carmaker, which own brands like Maxus, MG, Roewe and Yuejin, plans to invest $1 billion in India manufacturing unit, reports Swaraj Baggonkar from Mumbai.
4 Ranbaxy facilities in India have been barred from exporting to US.
The move marks the entry of GWM, one of the largest manufacturers of sport utility vehicles (SUVs) and pick-ups, into the Indian market and a complete exit for GM from the country, two years after it stopped selling cars here.
The Halol facility is projected to operate in three shifts to cater to production of LCV's and the automaker plans to hire new suppliers for it as well.
The Halol facility is important for the company as it accounts for 10 per cent of Sun Pharma's sales.
GM India said customers will be able to book the Trailblazer on Amazon.in only from October 21-25, at a reservation deposit of Rs 25,000.
General Motors India had completed all investments intended for the country well before its parent's bankruptcy filing, said Karl Slym, president & MD.
Karl Slym, president and managing director of General Motors India Private Limited, said the company would launch Chevrolet Cruze, its new offering in the Chevrolet Spark segment, by third quarter of its financial year ended December 2009. Slym added, "The car will be priced similar to Chevrolet Spark. As far as the minicar is concerned, we are not competing with Tata Motors' Nano, which is a different segment."
According to crime branch officials, Nagori is an expert trainer who can influence young people with his inflammatory speeches. He may be a crucial link to other blasts in the country as well.
Rubbishing speculations that he was involved in a leadership tussle in the Bharatiya Janata Party, Gujarat Chief Minister Narendra Modi on Saturday asserted that L K Advani will be the prime minister after the next Lok Sabha elections. "After the Lok Sabha elections, BJP will come to power and L K Advani will be the prime minister," Modi said. The BJP has projected Advani as its prime ministerial candidate.
Brokerages have cut the company's FY16 earnings estimates between 16% and 29% with target prices too coming down to the Rs 700-800 band
The 125-km stretch covering Sanand, Hansalpur and Vithalapur, with connected nodes at Kadi and Halol, is set to emerge as the next major automobile hub in India.
Production was halted at the Halol plant of General Motors in Gujarat because of heavy rains, a senior company official said on Thursday.
GM chief Mary Barra reveals turnaround plans.
The Competition Commission of India and the US Federal Trade Commission are yet to give their nod to the biggest pharma merger and acquisition deal this year in the Asia-Pacific region.
Spark will be targeted to cut a major slice of the growing small segment pie.
General Motors said on Thursday it will launch a mini car in India in the first half of next year.
General Motors will invest Rs 100 crore (Rs 1 billion) in its manufacturing facility at Halol in Gujarat, for penetrating into the Indian small car segment, company's Vice President P Balendran said on Friday.
Floods in Gujarat caused a Rs 30 crore (Rs 300 million) loss to General Motors India and the company said it expected sales performance to be hit, for the second consecutive month, in July.\n\n
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