“Our supplies and production were impacted in February because of the outbreak of coronavirus in China. In March, the situation started improving…Now we are more concerned about Italy… (But) We are still optimistic, because of our bookings, we will be able to meet our annual target,” said MG Motor India president Rajeev Chaba.
The group is also looking at using its R&D facilities to meet requirements of critical medical equipment such as ventilators, respiratory equipment and other sanitation/hygiene goods.
Similarly, Maxxis India said it has suspended manufacturing operations at its Sanand facility till April 14, 2020 in view of the lockdown to contain the pandemic.
Meanwhile, Bharat Forge in a filing to the BSE said, "the company has decided to suspend operations at all their offices and manufacturing locations in India with effect from March 23, 2020 to March 31, 2020, to ensure employee safety and contain the spread of COVID-19.
The plant would process over 300,000 kilo litres of lubricants, thus enabling the company to be present across the entire gamut of Indian lubes market. This will be GPPL’s second blending plant in India. Apart from the home grown IPOL brand, the plant may blend REPSOL branded automotive products as well, the company said in a statement.
The company has an ongoing overall capex plan of Rs 330 crore in three years and the investment in needle roller segment will be a part of it. Needle bearings are smaller than general bearings and have greater load carrying capacity. This allows compact designs and these items are useful for applications which require smaller inertial force such as in an engine crankshaft.
Sundram Fasteners has invested Rs 100 crore in the facility, which exported its first order to Germany to a European manufacturer– supplying to marquee OEMs– on Tuesday.
The Tamil Nadu based company had announced non-working days for eight out of its 10 plants in the country last month.
The Indian auto component industry contributes 2.3% to the GDP and employs about 5 million people.
Entry Point Aluminium forging, light-weighting technology are new ancillaries to EV manufacturers.
“The company has also been investing in the modernisation of its plants and expects this to yield results in the future,” Wheels India said in a release.
The auto industry is seeking a reduction in GST rate to a uniform level of 18% in a bid to help save jobs.
On Monday, Bosch’s stock lost 0.15% to close at Rs 15,140.95 per share on the NSE.
MSL at present manufactures pressure die casting dies, jigs and fixtures, primarily meant for two and three - wheeler industry.
Confederation of All India Traders (CAIT) also suggested to review items placed under different tax slabs under GST as many of the products are overlapping.
Earlier this week, auto industry body SIAM had asked the government should follow a well laid out road map and a practical time frame for rollout of electric vehicles.
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