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News on Medial
Michelin to lay foundation stone for passenger car tyre facility at TN plant
Economic Times
·
10m ago
Medial
French tyre manufacturer Michelin is set to invest INR 564 crore in its plant near Chennai in order to expand its passenger car tyre production. The investment aims to strengthen Michelin's presence in the Indian market and cater to the growing demand for premium tyres. The new facility, expected to start production in Q3 2025, will create 200 new jobs. In addition to the existing truck and bus radial manufacturing, Michelin's passenger tyres will target the Indian retail market with sizes up to 21 inches. The investment comes in response to the shift in consumer behavior towards larger vehicles and improved road infrastructure in India.
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JSW to invest ₹65,000 cr for greenfield steel, cement plants in Odisha
Livemint
·
1y ago
Medial
JSW Steel has laid the foundation stone for a ₹65,000 crore greenfield integrated steel manufacturing complex in Paradip, Odisha. The complex will include a 13.2 MTPA capacity steel plant, a captive power plant, jetties, a cement manufacturing unit, and a modern township. The project, expected to drive economic growth in the region, aims to create around 30,000 direct and indirect jobs. JSW Steel plans to adopt green technologies and circular economy practices in the facility.
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Major Fire Disrupts Operations At Tata’s iPhone Facility In TN
Inc42
·
10m ago
Medial
Tata Electronics is investigating a fire incident at its Hosur plant, which was about to start manufacturing smartphones. No casualties were reported, but the impact on operations remains uncertain. The company had plans to hire over 20,000 workers at the facility.
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BrahMos Manufacturing to Begin in Lucknow Amid Border Tensions
OutlookIndia
·
3m ago
Medial
The BrahMos missile manufacturing facility in Lucknow, set to open on May 11, marks a significant advancement in India's defense capabilities amidst India-Pakistan tensions. Supported by a Rs 300 crore investment, the plant aims to produce 80-100 missiles annually. This initiative is part of the Defense Industrial Corridor, a strategic move to bolster India's military strength, enhance national security, and promote self-reliance in defense manufacturing. The facility's foundation stone was laid in 2021.
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PM to inaugurate, lay foundation stone of projects worth ₹1.64 lakh crore in Bihar next month
Thehindubusinessline
·
1y ago
Medial
Prime Minister Narendra Modi is set to inaugurate and lay the foundation stone for various projects worth over ₹1.64 lakh crore during his visit to Bihar on March 2. These projects include the expansion of Barauni refinery, the fertiliser plant, and railway infrastructure development. The majority of the projects are from the Ministry of Petroleum and Natural Gas, the Ministry of Fertilisers, and Indian Railways. This visit will be the Prime Minister's first to Bihar since the BJP formed a government with JD (U). The announcement of Lok Sabha election dates is also expected in the coming weeks.
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Ceat’s tech focus could offer it an edge
Livemint
·
1y ago
Medial
Ceat Ltd, a tyre manufacturer, has the potential to increase its production capacity of truck and bus radial (TBR) tyres and passenger car radial tyres at its Chennai plant. The company's focus on digital and technological advancements has been well received by analysts, with automation and digitisation levels at the plant being praised. Ceat expects growth in the double digits in the TBR replacement segment and aims to increase its export contribution to over 25% of sales in the next few years. However, potential margin pressure from increasing input costs like rubber is a concern. Ceat plans to expand its capacity through brownfield expansion rather than greenfield investment to improve return ratios. The stock has experienced significant gains over the past year, but further upside may be limited.
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Tata Motors’ Sanand plant in Gujarat to be upgraded for bigger passenger cars: MD
Thehindubusinessline
·
1y ago
Medial
Tata Motors' plant in Gujarat, initially manufacturing smaller cars such as the Nano and hatchbacks, is now set to produce bigger passenger car variants in response to the increasing size of cars being sold in the Indian market. The market shift towards larger cars has been driven by changing customer preferences, with SUVs being the only segment showing growth. The Sanand-1 plant currently contributes 20% of Tata Motors' passenger car sales and has the capacity to produce up to 3 lakh cars per annum. The company is also planning to release five electric vehicle variants by 2025.
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Michelin, DPIIT join hands for initiative to promote innovation, entrepreneurship
Economic Times
·
1y ago
Medial
French tyre company Michelin has partnered with the Department for Promotion of Industry and Internal Trade (DPIIT) in India to launch the AI Startup Challenge. This initiative aims to promote innovation and entrepreneurship by selecting, mentoring, and collaborating with leading AI startups in the country. The challenge invites startups to submit applications showcasing their capabilities, with the top three startups receiving paid pilot projects from Michelin and the opportunity for long-term global contracts and incubation support. The challenge focuses on areas like manufacturing, supply chain, operating software, and infrastructure.
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Tata Motors signs pact with TN government to invest ₹9,000 crore in a manufacturing project
Thehindubusinessline
·
1y ago
Medial
India's Tata Motors has announced plans to invest INR90bn ($1.2bn) in a new vehicle manufacturing plant in Tamil Nadu. The development will be the company's second facility in the southern state. The factory will initially employ around 5,000 people and could produce more than 200,000 vehicles annually. There are reports the plant will focus on electric vehicle (EV) production. The new factory will not impact Tata's existing operations in Pune (Maharashtra) Lucknow (Uttar Pradesh), Jamshedpur (Jharkhand), Pantnagar (Uttaranchal) or Dharwad (Karnataka).
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Hyundai starts engine production at Talegaon facility ahead of full operations
Economic Times
·
1m ago
Medial
Hyundai Motor India Ltd has started engine production at its manufacturing plant in Talegaon, Maharashtra. This move precedes full passenger vehicle production, expected to commence in late 2025. The Talegaon facility, previously owned by General Motors, plays a key role in Hyundai's plan to enhance domestic production, with a capacity of 130,000 vehicles and 160,000 engines annually. Hyundai's investment in Maharashtra includes a ₹6,000 crore commitment made in partnership with the state government.
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A sequential surge in demand for CVs, tractors in March
Money Control
·
1y ago
Medial
In March, there was a rise in consumer preference for mid- and high-range utility vehicles (UVs) in the passenger car segment. The automotive sector had a mixed performance with increased demand for commercial vehicles (CVs) and tractors, while other areas saw a subdued performance. The early prediction of an above-average monsoon is expected to have a positive impact on rural areas. Overall, the quarterly performance was supported by improved realisations and there are positive medium-term triggers such as China plus and protectionist measures for the tyre industry. Valuations, however, are not considered inexpensive.
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