Honda Starts 2 Wheeler Plant Construction
Honda Motorcycle & Scooter India Private Limited. has started the construction of its second two wheeler production plant to meet increasing demand for its products. The company has acquired close to 240,000 square meters of land within the Tapukara Industrial Area (near Bhiwadi) in Rajasthan. This lies just 40 kms from the existing plant and 90 kms from Delhi.
The new plant is scheduled to start production in the 2nd half of 2011 with annual production capacity of 600,000 units. The Japanese two wheeler manufacturer has also expanded annual production capacity of its existing plant from the current 1.25 million units to 1.55 million units, with a further expansion to 1.6 million units already scheduled for this year. Once the second plant goes live, the company's annual production capacity will be 2.2 million units. The total investment for new plant will be approximately Rs. 5.0 billion.
[Via: Motorbeam]
Petrol, Diesel prices goes up
Government of India has announced a sharp increase in prices of petrol,diesel,lpg and kersone. No one is barred from common man to auto manufacturers are set to suffer. With the hike, price petrol is increased by Rs 3.73/litre, Diesel goes up by Rs 2, LPG by Rs 35 and kerosene by Rs 3/litre. The increase in price comes into effect immediately.
Also the government has decided to freed the prices of petrol and diesel from its control (which means it market driven from now onwards). This move is good for the Oil companies on the long run. At the same time as the inflation already hovering around 10%, it is surely a bad news for consumers. The demand for automobile may take a hit following the hike.
[Via: Vicky]
TVS axes Scooty Teenz Electric
TVS Motor Company recently announced that it plans to put its electric vehicles production on hold because of low market demand. The firm has introduced the Scooty Teenz Electric back in April 2008 with an ex-showroom price of Rs 29,900 and hoped to sell close to 40,000 units per annum. But the battery powered scooter received lukewarm response and TVS had to stop its production in May 2009.
While speaking to the media recently TVS Motor Co Marketing President H S Goindi said that the market is not good for electric two-wheelers in India and so the firm is concentrating on its regular scooters and motorcycles. To strengthen its grasp of the entry level bikes TVS will be launching Max 100 early next month. The new bike is expected to be a no frills, low cost four-stroke bike that is aimed at getting volumes for the company.
[Via: BIKE INDIA]
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