Steelbird-TVS joint venture stalled amid Bangladesh’s political crisis
Considering the situation in Bangladesh, the company does not want to send people there at the moment.
The ongoing political disruption in Bangladesh has disrupted the launch of Steelbird Auto Bangladesh, a joint venture between Steelbird International and TVS Bangladesh.
The plant, intended to manufacture automotive filters, was slated for inauguration on September 14, 2024. But plans unraveled due to civil unrest that forced the then Prime Minister Sheikh Hasina to flee to India and left the political and business environment in disarray.
Steelbird’s executive director, Manav Kapur, described the sudden turn of events: "So, we had the inauguration date on 14th September. And, 10 days before that, all this happened."
The company now faces difficult decisions. A recent board meeting between the joint venture partners concluded with a cautious approach to operations in Bangladesh. “Considering the situation in Bangladesh, we do not want to send people there at the moment,” said Kapur.
The disruption raises broader questions for the automotive industry: How should manufacturers balance the opportunity of expanding into new markets against the risks posed by volatile political climates?
RELATED ARTICLES
Hyundai Foundation Disburses Rs 3.38 Crore in Scholarships
Program supports 783 underprivileged students across 23 states, including civil service aspirants and IIT innovation tea...
Tesla selects showroom sites in Mumbai, Delhi to begin India sales: Report
Prime Minister Narendra Modi met Tesla CEO Elon Musk in the United States last week and discussed issues including space...
Bharat NCAP2 Will Test ADAS Integration and Localization
The upcoming version of the home-grown safety testing standard will also look at hi-tech safety and autonomous driving f...