New Delhi: Hyundai is aiming to launch 50 mobile vans and 510 bikes to provide better mobility solutions as car servicing initiatives to its rural customers, S. Punnaivanam, National Service Head, Hyundai Motor India told ETAuto.The service cost of Santro is 40 per cent less in rural markets as compared to that in a metro city like Delhi.S. Punnaivanam, National Service Head, Hyundai Motor India The move comes with a target to increase the company’s share in the customer visits at rural service outlets from 22 per cent last year to 30 per cent by the end of this year.The automaker claims that its service rates in rural markets are the lowest in its spectrum of car service cost. “For instance, the service cost of Santro is 40 per cent less in rural markets as compared to that in a metro city like Delhi,” Punnaivanam said. Stating communication as the key factor for the rural customer growth, he opined that they are planning to take the current count of 387 service … [Read more...] about Hyundai to bring mobile vans and bikes for rural car servicing markets
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The Kering Group, the parent company of brands like Gucci, Alexander McQueen, Ulysse Nardin among others, will donate 7.5 million yuan ($1.08 million). Pinault is the chairman of the Kering Group. The funds are to be donated to the Red Cross Foundation in Hubei, and will be used to care for medical staff and patients at hospitals. … [Read more...] about This Canadian start-up used AI to track coronavirus and raised alarm days before the outbreak
Ending their four-year-old tussle, Reserve Bank of India and Kotak Mahindra Bank’s billionaire founder Uday Kotak have agreed on a middle ground over the bank's promoter shareholding.The deal allows the promoter Uday Kotak to own 26% of the bank, though his voting rights would be capped. This brings to an end the 13-month-old court dispute that began after the banking regulator had nudged Kotak to reduce his stake to 15% as part of the licensing guidelines.Kotak’s level of shareholding will be for perpetuity as long as the bank does not raise capital from a share sale to outsiders or on a rights basis. According to the agreement, promoter’s voting rights would be capped at 15% of the capital, irrespective of the level of his ownership. This will make the higher stake less effective in terms of overall governance but economically beneficial.The court battle Kotak Vs RBIKotak had moved the court to approve its issuance of preference shares as a way to dilute its … [Read more...] about RBI blinks in Kotak case; will other bank promoters take it head on?
COVENTRY (UK): Tata Motors-owned Jaguar Land Rover (JLR) has unveiled a new futuristic electric driverless car concept as part of a spin-off project developed at its new innovation centre at the University of Warwick in central England. Project Vector, described by the automotive major as an advanced, flexible, multi-use electric vehicle that is "autonomy-ready", has been developed at the National Automotive Innovation Centre (NAIC) - Europe's largest auto innovation centre of its kind. "Project Vector shows Jaguar Land Rover as a leader in innovation to make our societies safer and healthier, and the environment cleaner," said JLR CEO Ralf Speth on the sidelines of NAIC's official launch by Prince Charles on Tuesday. "Through this project, we are collaborating with the brightest minds in academia, supply chain and digital services to create connected, integrated mobility systems - the fundamental building blocks for Destination Zero," he said. “We believe in creating a … [Read more...] about Welcome to the future: JLR unveils new driverless concept car – Project Vector
“Over the next five to seven years, we would be investing around ₹10,000 crore in research and development of alternative mobility solutions, modern, state-of-the-art, sustainable manufacturing facilities, network expansion, and brand building across the globe,” Mr. Munjal said. … [Read more...] about Hero MotoCorp to invest ₹10,000 crore in research and development, other activities