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Apollo Tyres to deposit 400 mn euro on 2 plants in Europe, Brazil

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GENEVA: Apollo Tyres skeleton to deposit around 400 million euro (over Rs 2,500 crore) to set adult dual new comforts in East Europe and Brazil in a subsequent 3-4 years as it aims to enhance a tellurian footprint.

The company, that now has an European auxiliary — Apollo Vredestein, is also gripping a options open to acquire a tyre organisation in a Latin American marketplace to embark a operations there.

“We will set adult a greenfield plant in Eastern Europe and now we are scouting for locations in 4-5 countries. The plant will be prepared in a subsequent 2-3 years,” Apollo Tyres Chairman Onkar S Kanwar told PTI during a ongoing Geneva Motor Show here.

The association is looking to start a plant with newcomer automobile radial tyres with an initial ability of 7-10 million units per year, he added.

“We

Article source: http://economictimes.indiatimes.com/news/news-by-industry/auto/auto-components/apollo-tyres-to-invest-400-mn-euro-on-2-plants-in-europe-brazil/articleshow/12218294.cms

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06Mar

China Automakers May Face European Hurdles, Chamber Says

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(Corrects story published Feb. 27 to mislay erroneous
comment in sixth paragraph.)

China’s ostracism of foreign
automakers from a due list of swift suppliers might prompt
other countries to make it harder for a nation’s carmakers to
expand, a European Union Chamber of Commerce in China said.

“As an attention we can't design to be tenderly welcomed
outside of your country, if during a same time we start closing
the attention in your country,” Dirk Moens, secretary ubiquitous of
the chamber, whose members embody Volkswagen AG (VOW) and Daimler AG (DAI),
said currently by phone from Beijing.

China released a rough list on Feb. 25 of vehicles that
could be purchased by some central fleets and unfamiliar carmakers
including Volkswagen, General Motors Co. (GM) and Toyota Motor Corp. (7203)
were not on it.

Article source: http://www.bloomberg.com/news/2012-02-27/china-automakers-may-face-european-hurdles-chamber-says.html

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29Dec

Carmakers banking on incentives

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The Japanese automobile attention hopes a government’s new incentives for immature cars will boost altogether sales by about 900,000 vehicles in 2012 during a time when exports aren’t expected to grow neatly amid a clever yen and abroad mercantile slowdown, a conduct of a industry’s run organisation said.

News photo
Toshiyuki Shiga

“We wish a incentives will turn a upholder identical to a prior ones,” Toshiyuki Shiga, authority of a Japan Automobile Manufacturers Association, told a organisation of reporters in a new interview.

Approved by a supervision Dec. 20, a inducement module value ¥300 billion is directed during shoring adult domestic sales of electric vehicles, variety and other environmentally accessible cars. The supervision also motionless progressing in a month to extend a taxation mangle for immature cars for

Article source: http://www.japantimes.co.jp/text/nb20111229a1.html

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