Travel pass: Pros may outweigh cons
IATA’s mobile application will allow travellers to store and manage certifications for Covid-19 tests or ...
FILE PHOTO - REUTERS
Country’s second largest car-maker Hyundai Motor India Ltd (HMIL) plans to increase its passenger vehicle production capacity to eight lakh units from seven lakh at its Sriperumbudur factory near Chennai.
The proposed capacity expansion may generate job opportunities for 700 people, an official statement said.
Top officials of HMIL that included YK Koo, Managing Director and CEO; BC Datta, Vice-President (Corporate Affairs); and N Ramesh, Assistant Vice-President (Finance), met the Chief Minister Edappadi K Palaniswami at the Secretariat on Monday and sought the State government’s support for the expansion.
A memorandum of understanding is expected to be signed during the State government’s second edition of Global Investors Meet (GIM), which is to be held during January 23-24 next year in Chennai. An official statement quoting Koo said the HMIL officials met the Chief Minister in his office and promised to increase production capacity by another 100,000 units including 50,000 CKD (completely knocked down) units. HMIL officials sought incentives along with support in the areas of power, water and transport.
Hyundai will be shipping CKDs to some select markets instead of CBUs due to higher tax for CBUs in those export markets. Since CKD exports will increase, the company will have space for higher production that can be used to meet the domestic demand. Hence it has planned to increase capacity.
At the Sriperumbudur factory, Hyundai will produce more than 10 models including electric vehicles (on the CKD mode in the initial stage).
Earlier this year, Koo had said that Hyundai was planning to launch nine models including two face lifts, two new segment vehicles, four full model changes and one electric vehicle during 2018-20 in India. The launch of these models will entail development expenses of ₹6,000-6,500 crore.
IATA’s mobile application will allow travellers to store and manage certifications for Covid-19 tests or ...
A 2010 Act to regulate the medical sector flounders in implementation, even as healthcare remains ...
The scheme to boost local medtech manufacturing is timely, especially given the raging pandemic. But ...
Do pilots sleep on their job?
Fiscal stimulus, friendly monetary policy and firm commodity prices point towards normalcy, says the MD and ...
Price correction is a good opportunity for long-term investors to take the plunge
Q4 earnings, along with progress in controlling Covid-19 spread, will be in focus
Do keep in mind that premium may go up in case one of the members has a pre-existing condition
Inside Narayan Chandra Sinha’s universe house, metal and nature’s footprints are churned into an organic whole
A former resident relives sepia-tinted memories of growing up in a hilly, colonial tea range of the Western ...
It starts with the lack of new email messages: A sudden silence from my personal world. It’s a mellow Saturday ...
Love for food sparks an unusual friendship between a visitor and an auto driver in Hyderabad’s colourful lanes
Monotype’s 2021 type trends report points to a return to hand and the familiar
As ‘ear-points’ between a company and a customer grow, we are witnessing a rise in audio assets
‘Desi Twitter challenger’ Koo on connecting like-minded folks
Coca-Cola has just introduced an oat milk line in the US under its Simply brand. Smart move, say industry ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor