Maruti Suzuki may advance commissioning of Guj plant
The Dollar Business Bureau Owing to the increased demand for its products, India’s largest car manufacturer Maruti Suzuki India Ltd (MSI) may proceed commissioning of the phase II of capacity expansion at its plant in Gujarat. The phase I of the plant, which has a capacity of producing 2.5 lakh units, is likely to come into operations by early 2017.The phase II, with the same production capacity, may become operational by 2019 as the company is facing long period of waiting for products such as Baleno and Vitara Brezza.“We may look at advancing the second manufacturing phase in Gujarat,” R S Bhargava, Chairman of MSI told journalists on the sidelines of 56th Annual Session of ACMA held in New Delhi. The Gujarat facility will have ...
Mahindra to acquire Italian car designer company
The Dollar Business Bureau Indian automobile major Mahindra & Mahindra along with the group’s IT solution arm Tech Mahindra has entered into an agreement to acquire Italian car designer company Pininfarina. The acquisition process will be carried out through a joint venture company in which Tech Mahindra will have 60% share and M&M will hold 40%. “As per the agreement, Tech Mahindra and M&M shall purchase 76.06% of Pininfarina shares from the current controlling shareholder Pincars S.R.L. at a price of Euro 1.1 per share,” the Mahindra Group said in a statement on Tuesday. The Italian firm has crafted models for popular car makers like Ferrari, Maserati, and Rolls Royce, besides designing high-speed trains, buses, trams, rolling stocks, and automated ...
