Ford’s Chennai facility, which is spread across 350 acres with an annual capacity of 150,000 cars and almost 340,000 engines, has stopped production since July 2022.
"Investments will be about Rs 200 crore.. This will be for new Assembly line in the factory.. That will take the production to nine lakh units..," India Yamaha Motor, Deputy Managing Director - Business Expansion Group, Riuji Kawashima, said.
The company has received a successful establishment inspection report (EIR) from the US food and drug administration (FDA) for its chemical division, Chennai, India.
With fairly good performance likely in both the domestic and export markets, Rico Auto should be able to grow revenue by 15-20 percent this financial year, says Chairman, CEO & MD Arvind Kapur.
The funding for the Rajasthan plant will mainly be through internal accruals and if there is shortfall only then will Rico Auto approach banks, said CMD Arvind Kapur.
The company has formally signed a three year settlement agreement with its employee representative union, Renault Nissan India Thozhilalar Sangam (RNITS), Renault Nissan Automotive India Pvt Ltd (RNAIPL) said in a statement.
Representatives from Ford and Tamil Nadu government signed a memorandum of understanding at the Global Investor Meet, paving the way for a Ford campus across 28 acres land, the company said in a statement.
Located at Mahindra World City, about 55 km from here, the unit is the first independent plant of BMW Group that assembles and test engines. "The investment in the Chennai plant is about Rs 200 crore and it can produce up to 20,000 units premium engines every year.
The diesel-powered BMW 320d Gran Turismo Sport Line would be locally produced at the company's plant in Chennai.
The BMW 6 Series Gran Coupe would be available across the country as a completely built-up (CBU) unit from today onwards. BMW plans to launch 15 models during this year, with four brand new models that would be imported from our global centres and the rest will be re-launches.
Nissan Motor India, the company's subsidiary here, which exported 1.2 lakh units last fiscal is looking to at least maintain the same number this year as the European and the Middle-East markets remained a concern.
The Group has made a non-binding informal offer to buy Nokia's Chennai plant at a discounted price.
On March 3 in Parliament, Modi has indicated that the Tamil Nadu-based Nokia plant, which shut down a few months ago, is likely to start functioning again.
In an interview to CNBC-TV18, AK Bajoria, President & Director of JK Tyre speaks about the company's quarterly numbers. The management feels that cost cutting in areas of power and fuel improved their margins.
Auto major Ford India said that it received 30,000 bookings for its new sports utility vehicle (SUV) 'EcoSport" within 17 days of the launch of the vehicle.
CK Birla group company Hindustan Motors (HM) is open to talks with other auto-makers for utilising the surplus capacity at its Chennai plant which was demerged recently, a top company official has said.
Daimler India Commercial Vehicles has finally commercially launched the first set of Bharat Benz trucks in the country, a move that is expected to shake up the commercial vehicle market, dominated by Tata Motors and Ashok Leyland.
The French auto major Renault chose India as the first country to roll out its new SUV – The Koleos. Renualt India has now been getting ready to drive out another five new launches by next year, ranging from a small car to luxury sedans and SUVs, reports Swati Khandelwal Jain.
French tyre giant, Michelin’s Rs 4000 crore manufacturing plant will begin producing 300,000 truck tyres in November 2012. Sandeep Srikanth of CNBC-TV18 spoke to the company’s India head, Prashant Prabhu on the company’s choice of the truck and bus segment and their growth plans in India.