New Delhi: The Ashok Leyland-Nissan joint venture for light trucks will not compete in the market for 1-tonne vehicles that is at present dominated by Tata Motors Ltd’s Ace, according to V. Sumantran, executive vice chairman of Hinduja Automotive Ltd. He sees no need to get into that very competitive market that is already served by two players. Last year Mahindra and Mahindra Ltd launched its own 1-tonne offering.
The joint venture is on track to roll out its first vehicle by 2011, he said, adding that there would be no joint branding of the trucks. Ashok Leyland trucks would be sold through its dealerships while Nissan trucks would be sold through their network.
Nalco must pursue uranium projects: panel
New Delhi: A Parliamentary panel asked the state-owned National Aluminum Co. Ltd (Nalco) to pursue its uranium projects in view of the grim coal situation in the country and advised it not to neglect the domestic growth while expanding abroad.
Appreciating the firm’s trade proposals to set up projects in Indonesia and Iran because of the presence of low cost power there, the Parliamentary committee on public undertakings (COPU) said in its report that it “should ensure that domestic growth is not neglected by making sustained efforts to generate more employment in the domestic market”. It also asked the public sector unit to employ in-house experts or appoint expert firms to understand the market fluctuations.