BMW to roll back 120,246 vehicles in China

BMW to roll back 120,246 vehicles in China

Luxury car maker BMW will recall a total of 120,246 vehicles in China to fix their battery issues, the world’s most populous country’s quality control agency revealed.

The General Administration of Quality Supervision, Inspection & Quarantine announced on Tuesday that that car maker will roll back the models of the BMW 5 Series, the BMW 6 Series Coupe and the BMW 6 Series Convertible, manufactured between 2003 and 2010.

The roll back will start from 10th of May this year.

The quality control agency said the installation fault of the batteries in the affected vehicles may pose safety risks. In a worst case, the vehicle could catch fire.

However, the German auto giant has claimed that no accidents or injuries have been reported so far.

The incorrectly installed battery cable cover in the vehicle’s trunk has also forced BMW to roll back 367,000 5-series and 6-series cars in the United States.

In total, the luxury car maker is recalling around 1.3 million vehicles across the globe.


Tagged with

Miscellaneous

Government to issue clarifications on FDI in multi-brand retail

Government to issue clarifications on FDI in multi-brand retail

The government in India is planning to release clarifications to the regulations relating to the foreign direct investment in multi-brand retail.

Department of Industrial Policy and Planning officials have said that they have received a number of quarries from various global retail players for clarifications on various matters including sourcing arrangements. Foreign retailers will be permitted to include only processed food items form small enterprises under the mandatory sourcing regulations.

Tata Sons cancels stake sale in TTML

Tata Sons cancels stake sale in TTML

Tata Sons Ltd on Friday confirmed that its decision to cancel its offer for sale (OFS) of shares in its subsidiary Tata Teleservices (Maharashtra) Ltd.

The OFS was announced on Wednesday, when Tata Sons said that it would sell a total of 51,623,679 shares, or 2.72 per cent of the equity capital of the Tata Teleservices (Maharashtra) Ltd, on May 17.

But, the company yesterday confirmed that it had cancelled the sale. In a filing to the Bombay Stock Exchange (BSE), the company said, "Tata Sons Limited has now informed BSE that they have decided to cancel the sale in full."