Thursday, September 10
Tata Motors shares rallied 3.3% to their intraday high of Rs 699 on the BSE on Tuesday, August 19, after reports suggest that the company announced its re-entry into the South African passenger vehicle market, marking a significant step in its global expansion journeyThe move comes after a six-year hiatus, with the company set to relaunch its passenger vehicle range in the country.According to a report by Financial Express, Tata Motors has partnered with Motus Holdings, which has been appointed as the exclusive distributor for its passenger vehicles in South Africa.The Indian automaker had exited the South African market in 2019 but is now set to resume operations, capitalizing on rising demand for budget vehicles in the region.The company stated that South Africa is an important part of i
The government's aim is to make India's automobile industry the number one in the world in the next five years, Union Minister Nitin Gadkari said on Tuesday. Launching a report prepared by The Express Industry Council of India (EICI) and KPMG, Gadkari said the future of express industry is very good in the country. "The size of Indian automobile industry is now Rs 22 lakh crore... my aim is to make India's automobile industry number one in the world in the next five years," Gadkari said. The minster further said when he took charge of the transport ministry in 2014, the size of the automobile industry was Rs 7.5 lakh crore and today its size is Rs 22 lakh crore. Presently, the size of the US automobile industry is Rs 78 lakh crore, followed by China (Rs 47 lakh crore) and India (Rs 22 lakh
