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|11th February 2008, 08:00||#1|
Senior - BHPian
Join Date: Jun 2007
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Ex-Hyundai Chief BVR Subbu to make cars, comm vehicles and atuo cmponents.
This was in today's TOI. Don't know whether this has been discussed here. But just thought of sharing this.
MR.BVR Subbu will make auto components, commercial vehicles and cars. The below is the news snapshot frm TOI.
@ Mods: If this has been discussed earlier, pls merge this thread with the same.
Ex-Hyundai chief to make cars
Pankaj Doval | TNN
New Delhi: BVR Subbu, former president of Hyundai Motors India, who took over the defunct Surajpur plant of Daewoo Motors as part of a consortium, is all set to kickstart operations. And he is looking at not only component manufacturing but also at contract and joint manufacturing of commercial vehicles and cars.
Subbu, director of Argentum Motors that holds the right for manufacturing operations of the Daewoo plant, said the revival of the facility was nearing completion and it would begin churning out components by the start of the nest financial year (2007-08). “It is among the biggest engine transmission plant in India, behind only Maruti and Hyundai and considering its potential, we are getting a lot of interest from original equipment manufacturers (OEMs) across the world,” Subbu, told TOI.
Argentum, where Ajai Singh of Spicejet is the other promoter, completed the buyout of the Daewoo plant late last year for about Rs 800 crore and has attracted private equity investment from a clutch of investors, including IL&FS, South Africa’s Satwa and hedge fund DE Shaw.
Subbu said about Rs 120 crore was being pumped in for the revival of the plant. “We have a capacity of manufacturing 4 lakh engines as well as 2 lakh car bodies at the press shop,” Subbu said, reiterating that he was receiving inquiries from an array of auto makers for components as well as joint or contract manufacturing.
|11th February 2008, 08:47||#3|
Join Date: Feb 2004
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It is a good move, like in South Africa and Malaysia
The car companies want to sell cars but not invest in facilities.
Peugeot, Hyundai and Kia do this in Malaysia. Cycle and Carriage assemble Mercs, Sime Darby Assemble BMW's
Fiat were assembled by Nissan, Honda by Mercedes (in the 1980's), Mitsubishi's by someone else if I recall in South Africa ..and so on
|11th February 2008, 10:20||#4|
Join Date: May 2006
Location: Avon, CT
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Here's a superset of this topic : http://www.team-bhp.com/forum/indian...rs-2009-a.html (MLR Motors to roll out cars in 2009)
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