Archive for the ‘Automotive News’ Category
Volvo launches two products – S80 & SUV XC90
Starting prices of Rs. 38lakh and Rs. 45lakh
Swedish car major Volvo Car Corporation on Thursday forayed into the Indian market with two flagship products – S80 sedan and sports utility vehicle XC90 SUV – at starting prices of Rs. 38lakh and Rs. 45lakh, respectively. The company has introduced two petrol (3.2litre and 4.4litre) and one diesel (2.5litre) variants of both models. “India is an exciting market and the luxury car segment is growing exponentially here. Now is the perfect moment for us to enter the market,” Volvo Car India Managing Director Paul de Voijs told reporters here.
He said the company would start operations in India with three dealerships – in Chandigarh, Mumbai and Dellhi – and would scale it up yo nine by the end of 2008. The company will be importing the products as completely built units(CBUs) from its manufacturing plant in Sweden. While the S80 sedan petrol variant …
Lucas and TVS plans units abroad
Auto component manufacturer Lucas-TVS on Thursday said it will invest up to Rs. 400crore in the next two-three years to expand capacity and product development, while planning to set up new manufacturing units in Indonesia and Thailand. “We will invest 400crore over the next two-three years in R&D, manufacturing and capacity building,” Lucas-TVS Vice President(Business Planning ), Arvind Balaji, told reporter here. The company, which at present has seven operational plants, including one in Iran, is also mulling over setting up new plants in Indonesia and Thailand. Mr. Balaji said the company had started production in the Iran plant through a joint venture with an investment of Rs. 16crore in which it was the majority partner.
To expand its presence, the company would launch its products in Germany in the next two years, besides looking for inorganic growth opportunities. “Lucas-TVS is looking out for domestic and international acquisition,” company President …
TVS to sue Bajaj Auto for ‘malicious’ changes
Chennai-based two wheeler maker TVS Suzuki on Sunday strongly refuted charges that it stole technology from its Pune-based competitor Bajaj Auto.
TVS Motor said it would press libel charges on Bajaj Auto for making malicious allegation, as it felt Bajaj’s motive was to damage its reputation. Says a TVS spokespersons: “We have advised our lawyers to put Bajaj Auto on notice that unless the malicious allegations are withdrawn and regrets expressed, to file a suit for damages in a sum of Rs 250 core.”
On Saturday, India’s second largest two two-wheeler maker Bajaj Auto had said that it planned to sue TVS suzuki for stealing its patented technology that made made motorcycle faster and fuel efficient. it claimed that it had an international as well as local patent for a design that allowed the use of two spark piugs in small-sized motorcycle engines, branded ‘DTSi’ technology. A Bajaj Auto spokesperson said TVS …
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