: Brakes on automobile production as plants shut down #FinanceIndia #StockMarketNEWS #Business IANS Chennai India’s second largest car maker Hyundai Motor India Ltd, two and three wheeler makers

@StockMarketNEWS Wed 25 Mar, 2020

Posted in: #Business #FinanceIndia #StockMarketNEWS

Brakes on automobile production as plants shut down #FinanceIndia #StockMarketNEWS #Business
IANS



Chennai



India’s second largest
car maker Hyundai Motor India Ltd, two and three wheeler makers TVS Motor
Company Ltd, Eicher Motors Ltd and Suzuki Motorcycle India Pvt Ltd have
announced closure of their plants in order to contain the spread of
coronavirus.



In a statement Hyundai
Motor India said it is suspending manufacturing operations near here from March
23 till further notice. “We will await further notifications from State
Government to resume plant operations,� the company said. The car maker has two
plants near here with a capacity to roll out about seven lakh units per annum.



Two and three wheeler
maker TVS Motor in a regulatory filing said as an interim measure it has
decided to shut operations at all its manufacturing facilities and offices for
two days effective from Monday.



“The Company would take
further steps after reviewing the situation,� the statement added.



Similarly, Eicher Motors
that rolls out Bullet and other motorcycles in a regulatory filing said it has
decided to suspend all operations globally, starting Monday, March 23, 2020,
till March 31, 2020.



“This will include the
company’s manufacturing facilities across Tiruvottiyur, Oragadam and Vallam
Vadagal in Chennai, Technical Centres across Chennai and at Bruntingthorpe,
Leicestershire in the UK, and all company offices and company owned dealerships
in India,� Eicher Motors said. Eicher Motors has further issued advisories to
all dealerships in India to shut down for the same time period, or follow local
administrative orders, as may apply.



“During this time
period, company employees will continue to work-from-home, and there will be no
salary deduction for any permanent or temporary employees or workforce, and no
reduction of workforce,� Eicher Motors said.



Another two wheeler
maker Suzuki Motorcycle India has said it has suspended production at its
manufacturing plant at Kherki Dhaula, Gurugram till further notice.



“This is in view of the
precautionary measures taken in the wake of the COVID-19 (coronavirus) pandemic
and in line with the Haryana Government directives in this regard,� Suzuki
Motorcycle said.



While the Company has
taken all measures to ensure the well-being of its employees at the workplace,
we have announced a ‘Work from Home’ advisory to our employees and associates
who are not involved with maintaining essential services,a Koichiro Hirao,
Managing Director, Suzuki Motorcycle said.



On Sunday India’s
largest car maker Maruti Suzuki India, Mahindra & Mahindra and Hero MotoCorp
announced shutting down of their plants.
The post Brakes on automobile production as plants shut down appeared first on The Navhind Times.

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