Moneycontrol PRO
you are here: HomeNewsBusiness

Bajaj Auto shuts 4 plants; readies for an eight-week halt

The auto major’s plants at Akurdi, Chakan, Aurangabad and Pantnagar will shut from March 23 as ‘safety of our employees is paramount’, Bajaj said

May 12, 2020 / 08:06 PM IST

Bajaj Auto is preparing itself for an eight-week halt, its MD and CEO Rajiv Bajaj told CNBC-TV18. The auto major’s plants at Akurdi, Chakan, Aurangabad and Pantnagar will shut from March 23 as ‘safety of our employees is paramount’, Bajaj said.

Cautioning investors, he said the situation is changing rapidly not just in India but even in our export markets. The Bajaj Auto stock is trading at Rs 1,956.35, down 12.75 percent or Rs 285.95 on the NSE at 11:42 am.

He assured employees that there will be no job losses or salary cuts till March 31.

On March 22, various automakers like Maruti Suzuki India, Honda Cars, Mahindra & Mahindra (M&M) and Fiat temporary halted manufacturing operations at their respective facilities. Two-wheeler makers Hero MotoCorp, Honda Motorcycle and Scooter India and Suzuki Motorcycle India (SMIPL) have also suspended production.

Automobile companies are suspending production as a precautionary measure in light of the novel coronavirus, or COVID-19, outbreak and in line with the state governments' directives.


COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more

India reported three more coronavirus deaths on March 23, including the first casualties from Bihar and Gujarat, taking the death toll to seven and the number those infected to 360.

To catch all live updates on the coronavirus pandemic, click here
Moneycontrol News
first published: Mar 23, 2020 11:47 am

stay updated

Get Daily News on your Browser
ISO 27001 - BSI Assurance Mark