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

03 Apr 2026

Loomcraft Enters South India with Kerala Store Launch

Loomcraft has launched its exclusive store in Kerala, marking its entry into South India and a key step in its nationwide expansion strategy. The move targets a region driven by tourism and premium real estate demand, where outdoor spaces play a central role in hospitality and residential experiences.Kerala’s growing base of luxury resorts, boutique hotels, villas and gated communities has created strong demand for specialised outdoor furniture. However, the region has remained underserved, with buyers relying on imports or generic products not suited to humid, coastal and monsoon-heavy cond..

Mild Steel Prices Seen Rising to Rs 61,000 Per Tonne

Mild steel prices in India, currently around Rs 58,000 per tonne, are expected to rise to nearly Rs 61,000 per tonne in April, indicating an increase of about Rs 3,000 per tonne. The anticipated rise reflects structural pressures driven by geopolitical tensions, energy constraints and limited raw material availability.Ongoing global conflict has disrupted energy markets, leading to LNG shortages that are affecting domestic steel production. Small and mid-sized manufacturers, particularly those dependent on gas-based processes, are witnessing production cuts due to constrained energy supply, re..

Vedanta Expands Transgender Workforce to 75 Employees

Vedanta has strengthened its commitment to workplace inclusion by employing 75 transgender individuals across its businesses, including Vedanta Aluminium, Hindustan Zinc, Sesa Goa, FACOR and Cairn Oil & Gas. The initiative reflects sustained hiring efforts since 2022 to build equitable opportunities across operations, corporate and technical roles.Transgender employees are engaged in functions such as operations, finance, logistics, HR, CSR, healthcare and security, with provisions for internal mobility to support career progression. The company has implemented structured policies, includi..