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]
Suzuki sells 51 units of its big bikes in India
Suzuki Motorcycle India Pvt. Ltd., which launched the Hayabusa and the Intruder in India in November last year, has already sold 23 units of the former and 28 units of the latter in the country.
The Hayabusa is the world's fastest superbike while the Intruder is a cruiser-style machine, and both cost more than Rs 12.5 lakh, largely because of the import duties levied on foreign bikes in India.
Suzuki hopes to be able to sell a total of about 300 units of the two bikes by the end of this year. The company is also expected to bring in more machines from its sportsbike range, including the iconic GSX-R1000.
[Via: indiaautomotive]
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