commercial vehicles tagged posts

Ashok Leyland, Nissan review plans, will scale back proposed investments

Ashok Leyland Ltd. and Nissan are reviewing their plans for the three joint ventures which they had agreed upon earlier, which would have entailed investments of about Rs 2,300 crore. These ALL-Nissan joint ventures were to be set up for the manufacture of LCVs, powertrains and technology R&D.

In keeping with the global economic downturn, ALL and Nissan wish to scale back their investments into the three JV companies. The two companies’ new plans will be finalised over the next few months, and the companies will do a complete rethink on what products they want to launch in the first phase.

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Production starts at the Tata Marcopolo plant at Dharwad

Tata Marcopolo Motors Ltd.’s bus manufacturing facility at Dharwad, in Karnataka, has started production. A 51:49 joint venture between Tata Motors and the Brazil-based Marcopolo, Tata Marcopolo Motors Ltd. has been set up at an investment of around Rs 200 crore. The Dharwad plant has started with an initial capacity of 15,000 units per annum, and this will be increased to 30,000 units per year in phases.

A wide range of buses will be produced at Tata Marcopolo’s plant, including the ‘Starbus’ and ‘Globus’ ranges. The plant will produce 16-54 seater standard buses, 18- and 45-seater luxury buses and low-floor city buses.

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Volvo stake in Eicher approved by the FIPB, FM

Volvo wants 8.1% of Eicher

The finance minister, Mr Chidambaram and the Foreign Investment Promotion Board (FIPB) have approved Volvo’s proposal to acquire 8.1% of Eicher Motors Ltd. Volvo, the world’s second-largest manufacturer of trucks, had announced last year that it wanted to buy a stake in Eicher Motors, India’s third-biggest truck maker.

India is the world’s fifth-largest market in the world for trucks, and Volvo, by forming a JV with Eicher, wants to strengthen its presence in the country and increase its market share.

Since it involves more than Rupees six billion, the Swedish company’s proposal will now be referred to a cabinet panel on economic affairs.

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