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Argentum Motors to showcase electric hybrid car at the Paris Motor Show |
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Written by Ganesh
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Monday, 26 May 2008 |
New Delhi: Argentum Motors, India's largest independent automobile contract manufacturer, has plans to showcase an electric hybrid car at the Paris Motor Show during the first week of October.The car is being designed and prototyped by a French design and manufacturing company, Heuliez.
Heuliez is a family owned company that contract manufactures retractable and hard top cars. Although it currently builds the Opel Tigra TwinTop and makes components for Peugeot and a few other European brands, the financially troubled Heuliez has been under bankruptcy protection since December.
Argentum Motors is currently in the process of acquiring a majority stake in Heuliez and the acquisition should be concluded by the end of the month. Sources say that the deal could be worth about 70 million euros.
In addition to its planned alliance with Heuliez, Argentum has already formed partnerships with the Australian company, Concentric Asia Pacific and with software solutions provider Dassault Systems for designing and engineering of engine components for global automotive Original Equipment Manufacturers (OEMs).
Argentum’s founder director BVR Subbu also mentioned that he is looking at a technical collaboration with another French high end engineering services company that has a presence in the automotive and aerospace sectors.
As Argentum gears up to make use of its huge manufacturing capacities at Surajpur, the group’s design unit called Argentum Engineering Design (AED) is setting up a training establishment at the Surajpur facility called the Center of Excellence to provide powertrain solutions to various companies. |
