Sona Koyo, India's largest car steering system maker, on Friday announced the acquisition of 21 per cent stake in Fuji Autotech France for Euro 5 million to gain a toehold in Europe.
Turning around a leading German precision forging firm has Sona's chief living in Munich like a 'university student'.
Surinder Kapur's relentless pursuit of quality made Kapur a highly efficient manufacturer of automobile components.
Tata Motors has decided to stick to the Rs 1-lakh price tag -- plus value-added tax (VAT) plus transport charges -- for the car as the company believes hiking the price at this stage will be a 'breach of promise to the customers.'
Now Delhi-based Sona Koyo, which is supplying steering systems for the Nano, and Minda Group, which supplies electrical switches, have confirmed that they and other component suppliers have suggested a price rise to Tata Motors.
With an eye to the large and growing market for their products, Indian auto component and tyre companies are making a beeline to set shop in Europe (especially Eastern Europe). Just last month Apollo Tyres announced that it was setting up a euro 200 million green field venture outside Hungary. And Delhi based Amtek Auto will set up a production base which will come in to operation in 2009 in Romania.
...is not always easy. Here's why!
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