May
22
2009
News & Events

Maruti to Unveil Hybrid Car During Games, Looks for Tech Partners

The Financial Express

Maruti Suzuki India, the country's largest passenger car manufacturer, will soon unveil its hybrid car in the country during the upcoming Commonwealth Games next year.
 
"Indian government has put in money for developing hybrid vehicles through the National Hybrid Project and we have also joined that process. Our team is working on hybrid cars and we will demonstrate the first hybrid vehicle in the Commonwealth Games in 2010," Shinzo Nakanishi, managing director and CEO of Maruti Suzuki India (MSI) said. Suzuki is already working on hybrid cars in its R&D centre in Japan and once the product is ready, the company will consider bringing it to India, he added.
 
"Each manufacturer has to demonstrate 10 hybrid vehicles, which will be used for ferrying the players during the games. We are also developing hybrid vehicles for the same,” said CV Raman, chief general manager (engineering, research, design & development)of Maruti Suzuki India. It is a partnership programme, where government will bear 50% of the development cost, while rest will be spent by individual companies," Nakanishi said.
 
While Raman refused to divulge investment details, it is estimated that development of each vehicle could cost around Rs 10 crore to Rs 12 crore. According to IV Rao, Maruti Suzuki India managing executive officer (engineering), the company is at present scouting technology partners for the motor, battery, controller and transmission of the proposed hybrid vehicles.
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An article by Mahindra FirstChoice No Comments
May
22
2009
News & Events

Hero Honda to Replace Ranbaxy in Sensex

The Hindu Business Line

Hero Honda Motors will replace Ranbaxy Laboratories Ltd in the Sensex, BSE said in an announcement on Friday.
 
The replacement will be effective June 29, the exchange said. The stock of Ranbaxy Laboratories was up by 8.59 per cent and closed at Rs 199.80 at the end of the trading session on Friday. The share of Hero Honda Motors closed at Rs 1,221.65, up 1.02 per cent over the previous close.
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An article by Mahindra FirstChoice No Comments
May
21
2009
News & Events

Maruti Suzuki wants new Govt to Continue Lending Helping Hand

Just a day ahead of the announcement of results of the Lok Sabha elections, car market leader Maruti Suzuki India on Friday said it expects the new government to continue to support the slump-hit auto industry.


Last December the government cut excise duty and froze petrol prices, and also cut interest rates. Those steps helped the auto industry. Asked about expectations from the new government, he said the company was with the Society of Indian Automobile Manufacturers' overall view that the auto industry needs continued government support.


"I hope the new government continues with the support and there are no excise duty hike. I'll be happy if there is a further excise duty cut," Nakanishi said.


The Indian auto industry has been passing through one of the roughest rides in its history with auto sales growing by just about 0.71 per cent last fiscal at 97,23,391 units, thanks mainly to a late surge in the last quarter, after the government's stimulus packages. In the financial year 2008-09, the domestic passenger car sales rose by 1.31 per cent to 12,19,473 units, whereas the sales of commercial vehicles decreased by 21.69 per cent to 3,84,122 units.

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An article by Mahindra FirstChoice No Comments
May
20
2009
News & Events

M&M Signs Wage Pact for Igatpuri Plant

The Hindu Business Line
Mahindra & Mahindra (M&M) has signed a wage settlement agreement with the labour union of its Igatpuri plant, even as the strike at its Nashik unit continues.


The automotive major has entered into a long-term wage agreement with the Bhartiya Kamgar Sena Union (BKS) which represents workmen of the Igatpuri plant, said a company statement. This agreement will be valid for three-and-a-half years . M&M produces automotive engines at this plant. Mr Suryakant Mahadik, President, BKS, represented the workmen while Mr Vijay Dhongde, Senior Vice-President, Manufacturing Operations, acted on behalf of the management.


Strike at Nashik plant
Meanwhile, the tool down strike in M&M’s Nashik plant which started on May 5 still continues. It is here that the Bolero, Xylo, Scorpio and the Logan sedan are made.


According to the company, the strike triggered by the disciplinary action against the employee union leader is illegal and unjustified as it started without prior notification.


"The employee union of the Nashik plant is not under the control of BKS and we could not intervene in the matter. We urge the workers to end the strike given the current recession," said Mr Mahadik.


Strike 'illegal'
The Nashik Industrial Court on Thursday had declared the strike as illegal and directed employees to resume work in 48 hours. However, the workers decided to appeal against this order in the High Court. The company has refuted the union’s claim that the unsettled wage issues have led to the strike.


A section of M&M’s dealers believe that the strike may impact delivery schedule of vehicles, particularly the Xylo, which has been getting a good response from customers.


"Production has been affected for the last 8-9 days but we have an inventory pipeline. We have a court order asking the workmen to end the strike and we hope they adhere to it," said Mr Rajesh Jejuriker, Chief of Operations, Mahindra Automotive Sector.

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An article by Mahindra FirstChoice No Comments