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Daimler India to export school buses to Middle East this year
HANOVER: Daimler Commercial Vehicles India is ready to start operating its full range of buses and plans to export nine tons of Mercedes-Benz school buses to the Middle East by the end of this year. The company, which is a wholly owned subsidiary of Daimler, plans to expand its product line and plans to enter the domestic market next year by launching a 16-ton bus chassis. Next year, we plan to enter the business of selling buses to state governments and ministries. Markus Villinger, CEO, India “The 9-ton Mercedes-Benz branded school buses will be sold in the GCC countries, which is the first step for India. These buses will be produced at the IAA Commercial Vehicle Show.” . He added that the company will be established on 11th of this year Month to December to start showcasing these buses in the Middle East. The school buses will be sold in the Middle East under the Mercedes-Benz brand. In India, it is sold using the BharatBenzz brand. DICV is currently exp...
SidneyEdith
62
June 2, 2024
India, US companies to fight in Supreme Court over Exide trademark
NEW DELHI: A longstanding legal dispute over who can sell car batteries in the Indian market under the brand Exide has gone to the Supreme Court. However, Exidede Technologies, currently based in the US, cannot use the name in any way to promote its brand or company in the country. Exide Industries of India has been entering the local market with its trademark for decades. The dispute was triggered when the US company decided to enter the Indian market after liberalization. The Indian company filed a trademark infringement suit in the Delhi High Court when it started selling car batteries using the slogan “Made by Exide Technologies Inc”. After a long legal battle, Exide Industries won an order from the Delhi High Court in September 2012, prohibiting Exide Technologies from using the trademark “Exide” in India. However, Justice Pision upheld the order, forcing Exide Industries to file a case in the Supreme Court. A suit was filed. The trial was heard...
KenBenson
52
June 2, 2024
Electric Cars Designed in India, for China
PARIS: Renault Nissan global chief executive Carlos Ghosn said electric cars are the future of Renault Nissan. The company’s R&D site in Chennai will contribute to the affordable electricity program, he added. “Electric vehicles will be part of the future of our industry. We will develop affordable electric cars based on what we know in India, but we will deploy them in China because the market there is very important and the Chinese government is also very important. There is very little support for electric cars in India,” Ghosn told The Economic Times on the sidelines of the Paris Motor Show.” Chairman Ghosn added that he expects the U.S. to lead the way in electric vehicles. The future of cars will happen in China thanks to the active participation of local manufacturers and the support of the Chinese government. As a result, Nissan, the leader in the field, is feeling the pressure. “The Chinese market is booming, and a number of emergin...
DukeNewman
82
June 2, 2024
Flash Electronics files patent violation suit against Enfield arm in US
In a statement, RE said, “We would like to clarify that these components are provided by an external proprietary vendor who independently developed and owns the intellectual property rights to these components.” Mumbai:Flash, New Delhi-based automotive component maker Electronics has filed a patent infringement lawsuit against Royal Enfield North America alleging that the company is illegally using technology it developed annually in 2014. Royal Enfield (RE) has denied the claims, saying that the intellectual property rights of the technology belong to the supplier. p The patent infringement lawsuit was filed on May 16 in the U.S. District Court. Vasdev, managing director of Flash Electronics Sanjeev, told The Economic Times that the company plans to file the lawsuit against India and several European countries for return on investment in the coming days. RE “We want it to be clear that these components were supplied by an external proprietary supplier, who i...
StewardLynd
63
June 2, 2024
Tata AutoComp enters into a 50:50 joint venture with South Korea’s SECO Seojin to diversify in clutch market
Tata Motors has in-house capabilities in plastics, composites, sheet metal stamping, engineering and supply chain, and the entry into the clutch segment opens up new business opportunities for the company. Mumbai: In a bid to expand its automotive business, Tata AutoComp Systems Limited, the automotive components subsidiary of the Tata Group, and SECO Seojin of South Korea have formed a 50:50 joint venture for the design, development and manufacturing of clutch systems in India. The product range includes clutch covers, clutch discs and friction materials for clutch applications. The joint venture plans to focus on entering the Indian commercial vehicle market, developing the agricultural tractor industry, expanding the passenger vehicle business and establishing an independent aftermarket for its products. SECO currently manufactures passenger car clutch systems at its Chennai plant and supplies them to Hyundai Motor Company. The plant will be part of a joint venture. A...
SaraMacDonald
42
June 2, 2024
Automotive safety components maker Joysons to merge its two JVs in India
The name of the new tripartite joint venture is Junsheng Anand Abhishek Safety Systems Pte Ltd (JAASS). Automotive component manufacturer Kungsheng Safety Systems Systems (JSS) has announced the merger of two joint ventures into a tripartite joint venture in India. KSS Abhishek Safety Systems Private Limited (KSSA), a joint venture between JSS and Abhishek Group is about to merge with Takatata Joint Venture India Pvt. Ltd. (TIPL). TIPL is a joint venture between JSS and Anand Group. The name of the new tripartite joint venture is Junsheng Anand Abhishek Security Systems Pvt. Ltd (JAASS). The merger of the two companies has to be approved by the National Company Court Merger (NCLT). As per the terms of the agreement, the shareholder structure of JAASS will be as follows; JSS 65%, Anand Group 30% Anand Abhishek Group will hold 5% stake. “The joint venture will serve as a platform for our safety products business to expand our product offerings in India, combining our w...
DorothyAugustus
50
June 2, 2024
Auto component industry seeks stable road map for electric vehicle transition
Group photo of agency representatives NEW DELHI: The Automotive Component Manufacturers Association of India (ACMA) on Tuesday, the government said that the government should take a pragmatic approach and develop a stable and long-term roadmap for a stable transition to electric vehicles. The industry body’s comments came in response to several media reports that the government is considering proposals to ban the annual sale of internal combustion engine (ICE) three-wheelers by 2023 and two-wheelers below 150ccccc by 2025. ACMA President Ram “The auto component industry is fully supportive of the government’s commitment to adopt electric vehicles and has started preparing for it, but a 100% change in the next few years will mean disruption of the existing vibrant ecosystem.” Said in a statement. He warned that rushing up without sufficient consideration of local production could lead to increased imports, which are spreading rapidly as the number of e...
HoganWodehous
42
June 2, 2024
CAIT for lowering GST rates on auto parts, aluminium utensils
ThinkStock PhotosCAIT has also suggested reduction in tax rates on goods like hardware, cell phone cases, ice creams, health drinks, paints, marbles, used cars, two-wheelers, etc. NEW DELHI: Trade association CAITT on Thursday urged the government to reduce the Goods and Services Tax (GST) on various products including auto parts and aluminum cutlery. The Confederation of All India Traders (CAIT) also suggested a review of goods falling under different tax slabs under GST due to overlapping of many products. It said in a statement, “Items such as auto parts, aluminum appliances etc. are not considered luxury items and should be excluded from the 28% tax rate and may be included in the lower rate.” Hardware, cell phone cases, ice creams, health drinks, paints, marbles, used cars and two-wheelers while submitting a white paper on GST (Goods and Services Tax) to Finance Minister Nirmalala Sitharaman. “The delegation assured to look into the matter,” t...
LanceMarjory
46
June 2, 2024
MSL becomes subsidiary of Bajaj Holdings and Investment
Different Mumbai: Maharashtra Scooters Ltd MSL (MSL) The maker of the once-popular Priyaya scooter brand is turning into a subsidiary of Bajaj Holdings and Investment Ltd (BHIL) after acquiring Western Maharashtra Development Corporation (WMDC). Percentage of company MSL stock. In June 1975, the then Bajajajaj Auto Ltd (BAL) state-owned WMDC Ltd formed a joint venture gear scooter co-production compared to the previous BAL, the company production started from 4 Three years later, the first scooter was produced. Consumer preferences gradually shifted from gear scooters to motorcycles. “WMDC transferred its 27% stake in MSL to Bajajaj Holdings and Investment Ltd (BHIL) on June 17. As of today, the company now holds 51% of MSL making it a subsidiary of Bajajaj Holdings. MSL is currently engaged in die casting molds, jigs and fixtures for the two and three wheeler industry. In 2003, WMDC proposed to sell its 27% stake in MSL and Bajaj Holdings Investment Ltd (BHIL and ...
MatthewChapman
67
June 2, 2024
Auto component industry fears loss of 10 lakh jobs due to prolonged slowdown
The industry group representing the auto parts industry (with a population of only 5,000) million) is also seeking clarity on vehicle electrification policy. (Representational image) Related Auto safety component maker Joyce has merged two joint ventures in India, seeking a stable roadmap for electric vehicle transition. New Delhi:The Automotive Component Manufacturers Association of India (ACMA) on Wednesday sought excise duty rates. To stimulate demand and salvage about 100 percent, the entire automobile industry has reduced production by 18 percent. 10,000 jobs. Companies are at risk due to prolonged low auto sales. Industry groups representing the auto parts industry (which employs only about 5,000) 10,000 people) are also seeking clarity on policies to electrify cars. ACMA President Ram Venkataramani “The automotive industry has faced an unprecedented downturn in the last few months.” He said that considering the growth of the auto component industry, the ...
LeoPoe
48
June 2, 2024
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