In India, the COVID-19 pandemic impact led to delays in major production and supply chain of stocks in the share market-including stocks, materials and mostly products of Auto Industry, this month. The lockdown defered a premier of products in Auto Sector.
Tvs Electronics Ltd, one of the leading companies in India, with the view of widespread of COVID-19 pandemic, it has announced to discontinue its work at all its manufacturing and official work thereto, till 30th April 2020. The Company also notified that there may be suspended work until further announcement by the Government.
The Company also facilitated the workers through “Work From Home” Policy arrangement. There has been taken various health related safety measures for employees, stakeholders and relevant co-partners. The Company has optimized its production in order to reduce the impact of COVID-19 in the business.
Automotive Axles Limited AAL, a joint venture Company manufactures drive Axles and non-drive Axles, front steer axles, etc. The Company provides this product to domestic and global manufacturers of trucks and further pertains to segments such as exports, heavy vehicles.
The Company also has halted its operation at its manufacturing and their offices up to 20th April 2020 along with it updated and taken safety measures against COVID-19 the protection of its employees.
Maruti Suzuki India Limited, incorporated on Feb 24, 1981, a former company engaged in the business of manufacturing, purchase and sales of motor Vehicles. The Company has been duly suspended until further announcements by the Government.
Hero MotoCorp Ltd India’s leading Two-wheeler Company with over Rs. 36,000 crores in market cap, has been in tremendous loss faced in the disruptive situation of Covid-19. The company has been suspended till 3rd May 2020. The Chairman of Company, Dr. Pawan Munjal stated that there will be resource support and safeguarding for everyone including employees, their families along with it put in significant effort to relief through contribution.