Live
- No confidence in Biren Singh govt, NPP supremo says after a day after withdrawing support
- Women of steel: Promoting environment conservation, come what may
- APSSDC signs tripartite MoU to upgrade skills of AP youth
- ‘AAP govt settling Rohingyas in Delhi, giving voter cards’
- Students advised to pursue excellence through learning
- Cold wave hits AP, Telangana: temperatures plunge to single digits
- AAP replaces Gahlot with another Jat face in Cabinet
- A Rising Star in Indian Cinema
- Telangana Introduces EV Policy to Prevent Severe Air Pollution
- Group- III exams conclude
BMW India partners with seven Indian component suppliers
Highlights
The Indian arm of German luxury auto maker BMW Group on Wednesday said it will partner with seven domestic suppliers to source components for local production of cars at its Chennai plant in south India.
The Indian arm of German luxury auto maker BMW Group on Wednesday said it will partner with seven domestic suppliers to source components for local production of cars at its Chennai plant in south India.
With the addition of the partners, which include Force Motors Ltd, Tenneco Automotive India and Lear India, the level of localisation at the company's Chennai plant will increase to about 50 percent, BMW Group India said in a statement.
Shares of Pune-based Force Motors, from which BMW will source engines and gearboxes, rose as much as 18 percent on news of the partnership.
BMW Group India said it will also source axles, door panels, wiring harness, exhaust systems, air conditioning and cooling modules and seats from the domestic suppliers.
The local partnerships will help the company optimise costs and set higher quality standards, it said. The company raised prices across its range of vehicles by up to 5 percent from Jan. 1.
Next Story
ADVERTISEMENT
