Hyundai looks at options for sourcing EV components in India
Hyundai is also looking for further clarity in government policy to drive in hybrid models in the country.
Suzuki Motor Corp reported on Tuesday a 32 per cent drop in second-quarter operating profit, company’s lowest in nearly three years, as the automaker improves its inspection processes, and a slump in India, its biggest market.
The fourth-largest automaker of Japan posted an operating profit of 55.9 billion yen (approx. $514 million) for the July-September quarter, its lowest profit since the 2016 year-end quarter—82 billion yen ($754 million), but above a mean forecast for 44.87 billion yen ($413 million) from nine analysts according to Refinitiv data.
Last month, Suzuki cut full-year operating profit forecast by nearly 40% to 200 billion yen, which would be a 4-year low, as it takes a hit from measures to improve its final inspection system for cars sold in Japan, and slowing demand in India. ($1 = 108.7900 yen)
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(With input from agencies)
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