Maruti Suzuki acquires stake in homegrown AI startup Amlgo Labs
Maruti Suzuki India on Saturday announced it has invested in Amlgo Labs Private Limited, an Artificial Intelligence and Machine Learning (AI-ML)-led startup.
Reeling under severe slowdown, Maruti Suzuki on Wednesday announced a two-day shutdown at Gurugram and Manesar production units on September 7 and 9. The country’s largest carmaker had reduced its output from its production by 33.99 per cent in August.
The company produced a total of 1,11,370 units in August as against 1,68,725 units in August last year, Maruti Suzuki India (MSI) said in a filing to the BSE on Monday. Passenger vehicles’ production last month stood at 1,10,214 units as against 1,66,161 units in August 2018, a decline of 33.67 per cent, it added.
“Maruti Suzuki India Limited has decided to shut down the passenger vehicle manufacturing operations of Gurugram Plant and Manesar Plant in Haryana for two days, on 7th and 9th September 2019,” the company said in an exchange filing.
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With the major slowdown in the automobile sector, major manufacturers have been reporting declining sales. MSI had produced 133,265 units in July, down from 178,533 units reported for the corresponding month of the last financial year (FY19).
(With input from agencies)
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