Michelin announces Rs 4,000 crore investment in India
French tyre manufacturer Michelin will set up a new manufacturing facility at Gummidipoondi (about 40km from Chennai), for which it will invest Rs 4,000 crore over a period of seven years. Michelin intends to produce truck and bus radial tyres at this plant, which is expected to be operational by 2012. These tyres will initially be meant only for the Indian market, though Michelin may also cater to some overseas markets at a later stage.
Michelin's tyre manufacturing facility will be situated on a 290 acre chunk of land situated in the SIPCOT industrial estate at Gummidipoondi. Michelin, which already supplies tyres to companies like Honda, Mercedes-Benz and Volvo in India, currently imports most of its tyres from its plant in Thailand.
This isn't Michelin's first foray into the Indian tyre market. The company first came to India with MRF in the early-1990s (the partnership was dissolved in the mid-1990s) and then set up a joint venture (for truck and bus radial tyres) with Apollo Tyres in 2003, which also ended in 2005.
[Via: cartradeindia]
Harley Davidson’s Indian Team Announced
According to a report by leading auto magazine BIKE INDIA 3 months after the official entry, Harley Davidson India has revealed its core members for India. After announcing its arrival in India Harley-Davidson is ready with its core team for an initiation in the Indian market. This new team consists of people like Sanjay Tripathi who has been in the Indian motorcycle industry for quite some time and is well aware of the likes and dislikes of the discerning Indian riders. He has been appointed as the director of Marketing.
Other experienced members include Rajiv Vohra - Director of sales and dealer development, who has worked with Honda Siel earlier. Yogesh Phogat, former BMW India employee, is appointed as the company's director of operations and finally Manish Agarwal who will be handling the financial department of HD India. With a team of industry experts HD is surely here to capture the hearts of Indian riders.
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