This decision comes in the wake of the 21-day nation-wide lockdown announced to combat the virus.
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2020 outlook withdrawn due to ongoing uncertainty regarding market development
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The proceeds of the investment will be used to consolidate the Business of TG in India by transferring the shares of Toyoda Gosei South India Ltd. (TG SIN) to TG Minda.
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The domestic sales of automaker drop by 40 percent with 26,900 units sold in March.
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The company is also producing reusable face shields within the Chakan factory which will be distributed amongst healthcare providers treating COVID-19 patients.
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Volvo Trucks has recorded sales of 23 units in March 2020 (YTD 1107 units) as compared to 131 units in March 2019 (LYTD 1226 units), representing a decline of 82.4% (YTD decline of 9.7%).
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He replaces Peyman Kargar who is taking up a strategic corporate role at Nissan following three years as AMI Chairman and global head of Datsun.
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This includes 116 units of ZS EV, the country’s first pure electric internet SUV, and 1402 units of the HECTOR.
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