VW To Double Market Share
Volkswagen (VW) is planning to double its market share in India in the next five years, says a report.
The company has a market share of 1.5 per cent currently, a top official said. VW will also increase capacity utilisation at its Chakan plant, near Pune, and venture into the re-used vehicles business. The carmaker, along with its group firm Skoda, also has plans to launch six new vehicles in India over the next five years to help meet its localisation ambitions.
BSH Planning To Expand Network
BSH Household Appliances is mulling expansion of its India sales network and aiming to have presence in up to 2,500 stores by the end of this year, says a report.
The major European firm sells its product range in the country under two brands – Bosch and Siemens. The company plans to introduce more categories under its mass premium brand Bosch, which will help it to expand in tier II and III cities.
Ducati To Unveil New Models
Ducati is set to launch four new models in the country this year, according to a report.
The Italian super bike maker’s move is part of a plan to strengthen its product portfolio in India. The new models will be Ducati Panigale V4, Ducati Monster 821, Ducati Multistrada 1260 and Ducati Scrambler 1100 which will be launched during the course of the year.
Delhi Daredevils Valuation Boost
The GMR Group-owned Delhi franchise of the Indian Premier League (IPL), Delhi Daredevils has a valuation of at 1,100 crore rupees and will start the 11th edition of the cricket tournament on a high note, says a report.
Recently, the company sold a 50 per cent stake in GMR Sports, which owns Delhi Daredevils, to JSW Sports for 550 crore rupees. The team has 12 sponsors and partners and is ready to roll out its branding campaign for IPL 11 which starts April 7.
Thomson Planning Indian Comeback
Europe’s leading electronic and home appliances brand Thomson is planning to make a comeback to India through the e-commerce market space, reveals a report.
The brand will bring in the range of its smart televisions that will hit the Indian market shortly, a company statement said. With over 120 years of legacy, the French corporation works with licensing partners the world over. In India too, the brand will be under an exclusive licensing agreement with a local counterpart.
Idea-Vodafone Merger On Track
The Idea-Vodafone merger has now reached the final stages of approval, a report says.
The Department of Telecommunications has approval from both the NCLT And Sebi and the process of expediting the issue has begun. The merger will create the country’s largest mobile operator.
Xiamo Eyes Investment In Startups
Xiaomi said it will invest 6,000-7,000 crore rupees in around 100 startups in India in the next five years, according to a report.
This will help the Chinese smartphone major to strengthen its hardware and software ecosystem. The companies that the Chinese firm is looking to invest in are more in mobile software tech side to help it achieve its goal.