HAL signs MoU with MoD; targets Rs.17,900 cr revenue in FY18
The Dollar Business Bureau Targeting a highest ever revenue at Rs.17,900 crore for current financial year, state-owned aerospace and defence firm, Hindustan Aeronautics Limited (HAL) on Wednesday signed a Memorandum of Understanding (MoU) with the Ministry of Defence (MoD). HAL has also put special emphasis on modernisation, capacity building and solar power plants, with the aim to attain a capital expenditure (capex) of Rs.1,300 crore, the company said in a statement. The MoU has charted out the targets on several performance parameters for the current fiscal. The MoU was signed by Ashok Kumar Gupta, Secretary in the Department of Defence Production, on behalf of Defence Ministry and T Suvarna Raju, CMD, on behalf of HAL. “The company’s thrust is on ‘Make in India’ projects such as Hindustan Turboprop ...
Tata-owned Jaguar Land Rover to hire 5000 people in Britain
The Dollar Business Bureau Britain’s largest car manufacturer Jaguar Land Rover (JLR) will employ 5,000 people in order to boost the company’s skills in electric and autonomous technology, a welcome corporate endorsement as UK’s Prime Minister Theresa May begins Brexit negotiations after the election. JLR said that it would be hiring 1,000 electronic and software engineers and an additional staff of 4,000 in the manufacturing division. Most of the employees will be based in the UK. The company employs over 40,000 people worldwide. The recruitment will be done over the next one year, just as Britain begins talks to exit European Union (EU). Car manufacturers in UK have asked the May government to ensure that the talks result in a pact that holds free and unfettered trade in order to ...
JLR witnesses best ever sales in January, up by 4%
The Dollar Business Bureau Jaguar Land Rover (JLR), owned by Tata Motors, on Monday reported its best-ever retail sales in the month of January at 47,693 units, an increase of 4% compared to the corresponding month of 2016. The sales performance in the given month has been led by the ongoing success of the models Jaguar F-PACE, XF, Range Rover Sport and Land Rover Discovery Sport. “Jaguar Land Rover has achieved its best-ever January sales performance in 2017, with total retail sales of 47,693 units, up 4% on the prior year, primarily driven by the ongoing success of the Jaguar F-PACE, XF, Range Rover Sport and Land Rover Discovery Sport,” the company said in a filing. Jaguar model registered retail sales of 13,949 units ...
Tata Motors global sales up by 4% in December
The Dollar Business Bureau Indian auto major, Tata Motors Ltd informed on Tuesday that its global sales have increased by 4% at 95,081 units in the month of December, which include that of Jaguar Land Rover (JLR). In the same month in 2015, a Tata Group company had sold 91,762 units, Tata Motors said in a statement. The cumulative sales for the fiscal stood at 8,22,807 units, an increase of 9%, over the previous fiscal of 2015-16.In the passenger vehicles segment, the company’s global sales stood at 64,202 units in December compared to 59,287 units during the corresponding period in 2015, an increase of 8%. During the entire fiscal, the company sold 5,38,126 passenger vehicles, a rise of 6%, as compared to previous financial year. The sales of luxury ...
Jaguar Land Rover plans to invest 3.75bn in FY17
The Dollar Business Bureau Jaguar Land Rover (JLR), owned by Indian conglomerate Tata-motors, plans to invest about £3.75 billion during financial year 2016-17, as it looks to enhance production capacity, introduce new products and enhance technologies. "The company plans to invest in the region of £3.75 billion during fiscal 2016-17 to support continued, sustainable, profitable growth in the future," Jaguar Land Rover (JLR) said in a statement. The luxury car maker plans to launch the Range Rover Evoque Convertible and the Jaguar F-PACE, which, as the announcement said, will unleash the potential of the two brands in future. "JLR has produced and sold more cars than at any time in our history. We are now the largest automotive manufacturer in the United Kingdom," the ...
'Auto component makers must focus on quality to reduce imports'
The Dollar Business Bureau The automobile industry has asked their component suppliers to focus on developing technology-based high-end products through improvisation and innovation in order to match global quality standards and reduce imports. “What the industry has achieved in last 10 years is commendable. 3x (three times) growth in revenue, 5x (five times) growth in export, but at the same time export is lower than the import. That means approximately Rs.80,000 crore sitting there, which could come on this side of ‘Make in India’ when you import it,” said Pawan Goenka, Executive Director & Group President (Automotive & Farm Sector), Mahindra & Mahindra. “We still lack technology to develop high-end components,” Goenka said citing an example of air bags that are ...
