Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Peugeot's auto parts arm to set up plant in Sanand

Nov 15 2013, 14:17 IST
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SummaryFaurecia, the euro 17.4-billion auto components company and a subsidiary of Peugeot, is betting big on India.

Faurecia, the euro 17.4-billion auto components company and a subsidiary of Peugeot, is betting big on India. The company, which has customers such as Maruti, Tata Motors, GM, Fiat, Ford etc is setting up a new facility at Sanand in Gujarat and double its interior systems operations in Chennai, especially cater to Ford’s EcoSport.

The company, which commenced its Chennai operations a few months ago exclusively for Ford India to supply interior systems for EcoSport will be doubling its capacity to 600 car sets per day, against 300 car sets per day now. Faurecia will help Ford India in localising interior systems for left hand drive to meet latter’s export obligations, said Vidyadhar Limaye, director of Indian operations, Faurecia.

M&M to start export of e-cars to Europe in FY15

Mahindra Reva, part of the Mahindra Group, on Thursday said it will start selling electric vehicles in Europe by Q1FY15. The tractor and utility vehicle manufacturer acquired the Bangalore-based Reva Electric Car company three years ago and has since been struggling with sales owing to poor electric vehicle infrastructure.

“We have a plan to introduce the e2o to key European markets by Q1 FY15. Markets such as Norway, Denmark and the United Kingdom have emerged ahead of others in terms of demand, and we will go there first ,” said Pawan Goenka, executive director and president, automotive & farm equipment sector, Mahindra & Mahindra (M&M).

Since its launch in March 2012 the company has managed to sell just about 400 units of e2o.

“We are prepared to launch more electric vehicles in the domestic market. Though more launches will happen only with proper government support and subsidy,” said Goenka.

Among the newer launches the company is looking at an e2o variant, electric Verito, Gio and the Maxximo as models with export potential.

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