Hyundai to liquidate 17.5% stake in Hyundai Motor India to raise up to $3 billion via IPO
Mumbai: South Korean automaker Hyundai plans to reduce its 17.5 percent stake in its Indian subsidiary, Hyundai Motor India, through an initial public offering (IPO) aimed at raising between $2.5 billion and $3 billion, media reports said.
New Delhi/IBNS: The Centre on Friday approved 20 companies, who had applied for the Production Linked Incentive (PLI) Scheme for the automobile and automobile component industry under the “Champion OEM Incentive Scheme”.
New Delhi: Taking steps forward towards the vision of an ‘Aatmanirbhar Bharat’, Government led by Prime Minister Narendra Modi, has approved the PLI Scheme for Automobile Industry and Drone Industry with a budgetary outlay of ₹ 26,058 crore.
Auto industry produces 29,075,605 vehicles in April-March: SIAM
New Delhi, Apr 10 (IBNS): The Indian automobile industry produced a total 29,075,605 vehicles, including Passenger Vehicles, Commercial Vehicles, Three Wheelers, Two Wheelers and Quadricycle in April-March 2018 as against 25,330,967 in April-March 2017, registering a growth of 14.78 percent over the same period last year, as per data released by the Society of Indian Automobile Manufacturers (SIAM) on Tuesday.