India to see sales of 30.81 mn electric vehicles by 2040: Amitabh Kant
The Dollar Business Bureau NITI Aayog Chief Executive Officer (CEO) Amitabh Kant said on Thursday that the strong push by the Government towards e-mobility is targeted towards making India an export hub for electric vehicles. “The vehicle penetration in the country is the lowest among the developing countries. At present, India has 20 cars per 1,000 people whereas the US has 800 cars,” Kant said while addressing the 57th Annual Convention of SIAM in New Delhi. “Other countries will have the problem to make the switch to electric but India has the advantage to become the leader because of its low penetration levels. We must make India the export hub for electric vehicles,” he said. He also said that the country may be slow ...
CCI imposes Rs 87 crore on Hyundai Motor India for unfair business practices
The Dollar Business Bureau The Competition Commission of India (CCI) has found Hyundai Motor India Limited (HMIL) for imposing arrangements upon its dealers which resulted in the inclusion of Resale Price Maintenance in the sale of passenger cars manufactured by it. The arrangements also included monitoring of the maximum permissible discount levels through a Discount Control Mechanism. Further, HMIL was found to have instructed its dealers to use recommended lubricants/ oils and penalising them for use of non-recommended lubricants and oils. The CCI has passed the final order after examining the information filed by the dealers of HMIL, Fx Enterprise Solutions India Pvt. Ltd. and St. Antony’s Cars Pvt. Ltd. Apart from issuing a cease and desist order against HMIL, CCI has imposed ...
Govt exhorts Hyundai to set up 3rd plant in India
The Dollar Business Bureau Government has urged Hyundai Motor India Ltd (HMIL), the second largest car maker in India, to set up its third manufacturing unit in the country without hesitation as measures are being taken to enhance business environment and drive manufacturing activities. Nirmala Sitharaman, Minister of Commerce and Industry said it depends on the company to choose the location for the plant. “I do not think there are enough reasons for you (Hyundai) to think more about it. It's time that you set it up and this is a good time for Hyundai to announce this,” Sitharaman said while speaking at an event on 'Korea-India Industry and Infrastructure Forum' on Friday. The government is actively taking measures to boost the ...
CCI finds Hyundai, Reva & Premier to be in contravention of the Competition Law
Source: PIB, Government of India The Competition Commission of India (‘the Commission’), in its order dated 27.7.15 has found 3 Car Companies, namely, Hyundai Motor India Ltd. (Hyundai), Mahindra Reva Electric Car Company (P) Ltd. (Reva) and Premier Ltd. (Premier) to be in contravention of the provisions of the Competition Act, 2002 (‘the Act’). The instant order is in continuation of Commission’s main order in the same case dated August 25, 2014 vide which the Commission had inter alia imposed penalties on fourteen out of the seventeen car companies under Section 27 of the Act. The order against Hyundai has remained pending pursuant to the writ petition filed by it in the Madras High Court challenging the jurisdiction ...
