Business Roundup # Week 52

Business this week
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Toyota Eyes EVs

Toyota is planning to launch at least 10 battery electrical vehicles (EVs) in India in the next decade starting 2020, a report says.

The EVs will be first unveiled first in China and later in India, Europe and the US. Toyota plans to sell more than 5.5 million electric vehicles by 2030, including more than a million zero-emission battery electric vehicles.

Xiaomi Revenue To Surge

Xiaomi India’s revenue will surge beyond $2 billion this calendar year, a top official said, according to a report.

The company is also upbeat of maintaining this momentum next year on the back of new product launches beyond smartphones and offline expansion, the official added.

New Look For Ace

Tata Motors’ small truck Tata Ace is set to get a new look to boost its sales and take on competition, a report reveals.

The next gen Ace will get a new cabin, designed by car styling team Pratap Bose, and its engine will be more fuel-efficient with a fuel injection engine. The new look will help the company to regain its market share from Mahindra & Mahindra.

Godrej To Ramp Up Durables

Godrej Appliances is boosting capacity at its facilities as part of a plan to widen the company’s portfolio, according to a report.

The company has invested 200 crore rupees at its plant in Pune and manufacturing is scheduled to start by end-2019. Another plant in Mohali has already started production.

Benetton Sales Blow

Benetton has suffered a major setback in India, with its sales and store count sliding last fiscal due to increasing competition from global rivals, a report reveals.

The Italian fashion retailer registered a 0.5 per cent fall in revenues to 699 crore rupees and a net loss of 49 crore during the financial year ending March. Benetton had posted a profit of 2.3 crore a year earlier.

Integrated Development Is Key

The realty sector may opt for more integrated development to extract the maximum from their properties, a report says.

Developers are combining hotels with projects like malls and office complexes to secure maximum gains from their properties in the backdrop of a glut in the real estate market and high capital costs.

Three Bikes Unveiled

Three new bikes have been unveiled by HeroMotorCorp which will be released in a phased manner from January, according to a report.

The 125cc Splendor, 110cc Passion PRO and 110cc Passion XPRO will help the company consolidate its market position in the domestic motorcycle market.

Water Purifier Launched

Havells India has entered the water purifier market by launching six variants in that category, says a report.

Priced between 10,499-23,999 rupees, the water purifiers will help the company to reach the 100 crore revenue target set by it in the first year of operations.

Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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