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The Dollar Business Bureau Nissan Motor Co., agreed to pay $97.7 million as claims settlement from consumer economic loss in the US. This is with regard to the recall of 4.4 million vehicles fitted with Takata air bags. Though Nissan claimed that it was ‘not admitting’ to a fault, the settlement is similar to the ones that other automakers were granted- ‘preliminary approval to settlements’ amounting to $553 million. In June, Subaru Corp, BMW AG, Mazda Motor Corp and Toyota Motor Corp had reached a settlement of $553 million, affecting 15.8 million vehicles with the faulty airbags. Ford Motor Co., and Honda Motor Co., have not agreed till date for a settlement on consumer electronic loss claims. There were at least 18 ...

By Sheela Mamidenna The youngest of the German cars in India, BMW, is fighting back to reclaim its leadership position in India. With its new Indian President and the company’s ‘power to lead’ strategy, BMW India recently launched the newest version of its luxury sedan, the 5 series, on June 29. Locally produced at the BMW Plant Chennai, the all-new BMW 5 Series will be available in diesel and petrol variants at all BMW dealerships across India from 1 July 2017 onwards. With the official implementation of GST on July 1, BMW is hopeful that it will make a strong comeback in India in a segment that accounts for less than 2% in the passenger vehicle market. With BMW, MINI and Motorrad, the BMW ...

The Dollar Business Bureau  Mahindra & Mahindra, jointly with its South Korean subsidiary SsangYong Motor, has announced its plans to develop a production platform for an electric Sport Utility Vehicle (SUV) by 2020.  Lack of public charging infrastructure in both India and South Korea is one of the many bottlenecks in the mass-adoption of electric cars, which is inevitably going to be the future of automotive companies. The move towards clean-fuel vehicles is slow but palpable across the global auto industry. Government subsidies for clean-fuel technologies has also incentivised growth in the electric vehicle segment.  In Mumbai, CEO of SsangYong, Choi Johng-sik, announced that it was diligently working with it's Indian parent company to roll out a new generation of electric cars.  In India, e2o and eVerito (sedan) are two of the electric vehicles manufactured by Mahindra & Mahindra. ...

The Dollar Business Bureau BMW Motorrad, the motorcycle subsidiary of luxury German auto major BMW, has officially begun its operations in India. Earlier, the firm was operating in the country with importers who had retail outlets in New Delhi and Mumbai. “We see a tremendous potential in this country and we are pleased to introduce BMW Motorrad as a part of the Indian subsidiary of BMW Group,” said Dimitris Raptis, Head of Region - Asia, China, Pacific, South Africa, BMW Motorrad said in a release. Presently, the two-wheeler arm of BMW is in the process of establishing a network of dealers and a team in India with Shivapada Ray already being appointed as the Head of the company. Initially, the company will set up dealerships ...

PTI West Bengal Chief Minister Mamata Banerjee today made an impassioned plea to investors, both foreign and those in the country, to invest in the state and assured them that her government would pull out all the stops to help and support. "We will help. Give us the choice, we will give you all options. If you want to set up industry, the state government will give land from the land bank. Our land bank, land policy is ready. If you come, we will be happy," Banerjee said while addressing a business meeting in Munich. Banerjee, who led a business delegation to Munich to explore investment opportunities, urged the German auto major BMW to consider investing in the state and said, "We ...

The Dollar Business Bureau   Germany’s luxury car manufacturer BMW has rolled out its 50,000th car made in its Chennai plant, the company said in a statement on Thursday. The rolled out car was an all-new BMW 7 Series that was launched at the Auto Expo 2016. The model has received huge response from the luxury car enthusiasts. It boasts of futuristic technologies that include Touch Command System, Wireless Charging, Sky Lounge and Remote Control Parking. Jochen Stallkamp, Managing Director of the BMW Plant Chennai, announced the roll-out of the 50,000th car locally manufactured at BMW Plant Chennai. Each BMW that is locally made is of the same international standard followed anywhere else in the world. In order to boost the ‘Make in ...

India is currently the seventh largest producer in the world with an average annual production of 23.36 million vehicles, of which 3.57 million are exported Ahmad Shariq Khan and Jasleen Kaur | The Dollar Business Along with the main expo in Greater Noida, the Auto Components show was also held in New Delhis Pragati Maidan from February 4-7, showcasing cutting-edge technologies and tools from the sector.   The Auto Expo 2016, which concluded on Tuesday, displayed Indias potential to become the hub of manufacturing and innovation in the automobile sector with makers from 20 countries sashaying an array of models on wheels, attracting huge number of buyers and prospective business partners. The biennial extravaganza, organized by the Automotive Component Manufacturers Association (ACMA), Confederation of ...