Business Daily from THE HINDU group of publications
Saturday, Nov 18, 2006
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Business Daily from THE HINDU group of publications Saturday, Nov 18, 2006 ePaper |
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Outlook Global Auto plans sub Rs 1-lakh car Our Bureau
New Delhi , Nov. 17 Global Automobiles, which recently announced its plan to foray into motorcycles in tie-up with Chinese company Guangzhou Motors, has initiated discussions to roll out a low-cost car in India. "We are in talks with automobile manufacturers from Singapore and China to launch a sub Rs 1-lakh car and are hoping to enter into a formal agreement with one of them very soon," the Global Automobiles Chairman, Mr Santanu Ghosh, said.
Two-wheelers
Global Automobiles, a part of computer hardware manufacturer Xenitis group, had earlier this week announced its plans to enter the two-wheeler market in India. The company has entered into an agreement with state-run Chinese automobile manufacturer Guangzhou Motors to make motorcycles and gearless scooters for the Indian market. "We have invested around Rs 280 crore to set up a two-wheeler manufacturing facility in Hooghly, West Bengal," Mr Ghosh said. The manufacturing facility will initially have a capacity of 20,000 units per month. He said the company has acquired around 20 acres in Hooghly for the two-wheeler project and is in talks with the State Government to acquire an additional 50 acres for the proposed car project. Global Motors would roll out 125cc and 145cc motorbikes in January followed by a 100cc variant and gearless scooters.
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