Automobile majors Volkswagen and Tesla to go head-on

17 Dec 2020 Editorial Team

German automaker Volkswagen’s largest plant is set to contend against American rival Tesla Inc. 's under-construction factory near Berlin, said Volkswagen AG CEO, Herbert Diess.

Diess further mentioned through an internal video conference that the storied site located in Wolfsburg, Germany, would be upgraded with the latest electric-vehicle technology as well as software operations. It would be the biggest car-making facility globally with building more than 800,000 cars annually.

The goal of the CEO, especially for the Wolfsburg plant is to compete with Elon Musk’s target of reducing production time for each car to nearly 10 hours. It would be less than half of the estimated time it usually takes to assemble a VW Golf or even a Tiguan. These are its main products. He further reiterated that the company must gradually reduce its fixed costs to remain competitive, especially when the Covid-19 pandemic has shown that several rivals are leaner.

The CEO has mentioned this after winning a vote of confidence for his strategy to make the company more nimble.

He mentioned that the company plans to create a management board position for Information Technology (IT) and is reviewing potential candidates. A decision will be taken on this next year.

The company has sailed through the Covid-19 crisis comparatively well; however, its costs are too high. Hence, the company has decided to lower fixed costs by 2023, to 5%.

Image Source

Real Estate

26 Jun 2026

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..

Platinum Corp Launches Bespoke Presidential Suites

Platinum Corp has launched Platinum Stellar: Bespoke Presidential Suites, a luxury residential project on Main Avenue in Santacruz, Mumbai. The project has been positioned as a boutique, design-led development for high-net-worth individuals, business owners and legacy residents from the Bandra-Khar-Santacruz belt.The project has been developed in collaboration with celebrity interior designer Sussanne Khan and follows a design-first approach inspired by Art Deco architecture. It incorporates refined detailing, spacious layouts, premium material palettes and arrival experiences planned to creat..