JSW Group In Talks To Buy GM Plant
The JSW Group is in advanced negotiations with General Motors India to buy its Talegaon plant, says a report.
This is part of the steel maker’s ambition to venture into electric vehicles, said people with knowledge of the matter. Under the plan, among several that are said to have been examined by GM India, JSW Energy will take over the plant and become a contract manufacturer for the Beat and Essentia compact cars, which are being made for Mexico and other overseas markets.
This will mean GM India fully exiting vehicle manufacturing in the country by the end of 2019, having already stopped local sales in mid-2017.
Electric Vehicles To Get Cheaper
Electric vehicles will get cheaper by 20,000 rupees to 2.5 lakh rupees from April 1, says a report.
This follows the government’s go-ahead to Niti Aayog’s proposal to give purchase rebate as incentive to buyers. The move will help reduce India’s dependence on imported fuel and bring down pollution levels in the country.
The Union cabinet had approved an incentive of 10,000 rupees per KWH for purchase of e-vehicles directly linked to battery size under the FAME II (Faster Adoption and Manufacturing of Electric Vehicle) scheme.
Hatsun Agro Sets Up New Outlet
Dairy products maker Hatsun Agro has set up a new outlet in Maharashtra, its 2,500th facility in the country, according to a report.
The outlet has been set up in Kolhapur and it would retail the entire gamut of products including Arokya Milk, curd, milk beverage, among others, the company said.
Tata Sons Scraps Merger Plan
In a U-turn, Tata Sons has decided to keep the enterprise business of Tata Teleservices separate and not merge it with Tata Communications, says a report.
The plan is to scale up the business and later evaluate strategic options for the unit. The current thinking is that the enterprise business will be run separately, as a lot of value needs to be created.
Furthermore, Tata Communications has its own challenges, like deals being stuck for want of regulatory approvals, said a source
HTC In Talks For India Comeback
Taiwanese smartphone brand HTC is in talks with Micromax, Lava and Karbonn to return to the Indian market, says a report.
HTC will earn royalty in return, a business model it wants to embark on for the Indian market where it failed to thrive in the face of Chinese smartphone onslaught and exited last year, according to three senior industry executives.
The company now sells a few old models it had launched last year on e-commerce marketplaces Amazon and Flipkart, the executives said.
Kent Names Shah Rukh As Brand Ambassador
Water purifier maker Kent is roping in Bollywood celebrity Shah Rukh Khan as the brand ambassador for its soon to be launched automotive security product, chairman Mahesh Gupta said, according to a report.
Kent has been synonymous with its brand ambassador Hema Malini who endorses water purifier and other products. But Gupta said the automotive security product will target male consumers and hence the decision to rope in Khan.
The company will launch the product by April. Hema Malini will also continue as brand ambassador.
J&J Resumes Talc Production
US talc maker Johnson & Johnson (J&J) said that it has resumed production of its Johnson’s Baby Powder at plants in Baddi and Mulund, says a report.
This comes after the Indian Government sanctioned testing reaffirmed that the product does not contain asbestos.
This conclusion by India’s drug controller reinforces the findings of decades of independent tests by universities, research labs and government regulators around the world that have consistently found that the talc is safe, J&J said.
Britannia To Enter Salty Snacks Market
Britannia Industries, India’s biggest biscuit maker, plans to enter the 24,000 crore rupees per annum salty snacks market, which is dominated by Haldiram’s and Pepsico, says a report.
It plans to launch salty snacks under its existing brand Time Pass by next month as part of a strategy to expand to non-biscuit segments.