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Proton, a Malaysia based car maker, is planning to make its debut in the Indian market with launching a small car with a competitive price tag. The new car will be based on the the EMAS concept to which company has presented at the Geneva Auto show last month. The new small car will be a five-door hatchback designed by an Italian firm Italdesign Giugiaro. The concept which was shown at the Geneva auto show was a four-seater model with a total length of 3,550-mm.
The company is aiming to sell this car in markets like India and China, which are one of the fastest growing auto-markets in the world. Besides this new small car, the company has another compact car 'Savvy' in its global portfolio. The Savvy model will be powered with a 1200cc engine which will be out-sourced from Renault. It is speculated that the company may look for possibilities of sourcing engines from Renault for its India bound compact car too, as Renault has invested heavily at its engine production facility in Chennai. However, there is no confirmation form either of the company on this regard.
Its about a decade since the company is planning to enter in the Indian market, but due to the financial problems the company had rescheduled its plans. Last year, the company was in talks with the Hero group for a joint venture in India but these talks couldn't reached to the fruition.
Source:- Malaysia's Proton to launch a new compact car in India - New Cars
Mahindra & Mahindra, country's largest SUV maker has made bids to buy Ssangyong Motor Corp, a South Korea’s bankrupt firm. Interestingly, Renault group, a France based leading car maker which has recently ended a 5 year old joint venture with Mahindra group, has also made bids for this Korean firm. The Mahindra and Renault had entered into a partnership in year 2005 when both of the companies started manufacturing Logan sedan in India. But due to the recently surfaced differences on the issues like pricing and designing the joint venture came to an end in April 2010.
The bidding value for Ssangyong Motor Corp, which has around 2% market share in the Korean market, is expected to be in the range of $300-$500 million. The company sales some of the popular SUV's in the Korean market including Rexton and Kyron which will definitely help Mahindra & Mahindra in enhancing its operations in markets like South-Korea if it gets succeed in buying this bankrupt firm.
Company's expertise lies in turning around sick companies and therein lies the primary synergy for its interest in the company. It has identified value in this company and therefore, has put in a bid for the same, said Mr Pawan Kumar Ruia, in a statement to a leading business daily.
Source:- Mahindra bids for S Korean SUV maker Ssangyong - New Cars