“Motor sport is always considered to be niche in India. We want to change this production with this new Etios Motor Racing,” Toyota Kirloskar deputy managing director (marketing), Sandeep Singh said.
Japanese auto giant Toyota Motor Corporation will start production of its sedan Etios and hatchback Liva — the two models that were first launched in India — in Brazil from 2013.
“We are going to start the first production outside India from next year. It will be for the Latin American nation and the production base would be Brazil,” Toyota Motor Asia-Pacific President, Mr Hiroji Onishi, said at the 11th Auto Expo here.
He, however, did not share details such as production volume and the size of the investment for the project.
“Before going for production outside India, we will start exporting Etios and Liva to South Africa from March this year. We would like to go overseas for establishing the products,” Mr Onishi said.
The company today announced starting its first motor race in India in 2013.
“Motor sport is always considered to be niche in India. We want to change this production with this new Etios Motor Racing,” Toyota Kirloskar Deputy Managing Director (Marketing), Mr Sandeep Singh, said.
Before the final race, the company will conduct preliminary round for short-listing the drivers at 12 locations in 13 cities across the country
Under the tie-up, platinum and signature cardholders of IndusInd Bank can book themselves on Malaysia Airlines' business class for flights originating from the country and can get their companion to travel for free, the bank said.
Mid-sized private sector lender IndusInd Bank, which entered the credit cards business by acquiring the loss-making portfolio of German banking major Deutsche Bank mid last year, tied up with Malaysia Airlines to offer discounted tickets to its premium category cardholders. Under the tie-up, platinum and signature cardholders of Indusind can book themselves on Malaysia Airlines' business class for flights originating from the country and can get their companion to travel for free, the bank said. Malaysian national carrier general manager, Western India, Nur Shaffik Haris said the airline, which operates 40 weekly flights from the country, is targeting a 20 percent jump in business class bookings through the tie-up. Bank's credit cards business head Anil Ramchandran refused to divulge details of the customer base but said even newer customers can avail of the offer, which will be on till the end of the year.
IndusInd had last April announced that it would be entering the credit cards business by acquiring DB's vertical with two lakh customers. Ramachandran said the credit card business is doing well and the bank will adopt a cautious approach on the vertical going forward. "Quality (of the portfolio) is the key, not the quantity," he said, adding the bank is also working on some more new product offerings on the premium segment.
In the late afternoon, IndusInd Bank was trading at around Rs241.50 per share on the Bombay Stock Exchange, 2.19% down from the previous close.