INDIAN CAPARO-HYUNDAI COACH PROJECT SLOWED DOWN
Published at 19.10.2008 in International developments
Caparo India Ltd., a subsidiary of the UK-based Caparo Group, obviously is slowing down the development of its luxury bus venture with South Korean Hyundai Motor Company, which was announced earlier this year. Six months after signing a technical pact with the Korean auto giant, the Caparo-Hyundai luxury bus project is yet to take off.
Caparo India, as an important parts supplier to the Indian automotive industry, had signed a technical agreement with Hyundai Motor Company a couple of months ago to mark the its foray into the luxury bus segment, planning to assemble some 1500 coaches per year. According to rumours Caparo is not pursuing the venture for the time being for various reasons.