Covid-19 Impact: Automotive Players Extend Their Helping Hand

Covid-19 Impact: Automotive Players Extend Their Helping Hand

Covid-19 Impact: How Mahindra, Hero Cycles Can Inspire Others!
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The Indian automotive industry may have been bogged down by a prolonged slowdown, but it hasn't deterred some of the country's automotive bellwethers to bring their samaritan ways to the fore even as the world struggles to beat off the deadly coranavirus. Mahindra Group Chairman Anand Mahindra gladdened many hearts across the country by announcing that he would contribute 100 % of his salary to create a fund towards assisting those people (small businesses & the self-employed) who are the hardest hit in the value chain owing to the Covid-19 menace.

The Mahindra Group top honcho while imploring other corporate enterprises to voluntarily contribute to cope with the distress emanating from the Covid-19 menace, also announced that Mahindra's factories will manufacture ventilators to combat this unprecedented threat - further, he also offered Mahindra Resorts as temporary care facilities. Mahindra is not the only corporate big guy in the automotive space to come to aid of the country's medical fraternity.

  

 Hero Cycles is also doing its bit by announcing a Rs 100 crore contingency fund to mitigate the impact of Covid-19 crisis on partners and the community at large. This fund will be used as and when required to alleviate the impact of Covid-19 on employees, suppliers, customers and communities across India. What's more, the company has also set up an Emergency Monitoring Cell headed by Chairman Pankaj M Munjal to closely monitor the economic repercussions of the pandemic and its impact on the organisational supply chains. Hero Cycles' helping hand is not just limited to India - even its international subsidiaries are undertaking a similar exercise in the UK & Germany where they have significant presence.

Like the Mahindra Group Chairman Anand Mahindra, Hero Cycles has asked various state governments (especially Punjab, Bihar and Uttar Pradesh where it has major facilities) to extend their helping hand in this hour of distress.

TVS Motor Company and Sundaram-Clayton Limited have announced that they would spend Rs 30 crore to support the nationwide efforts to curb the spread of Covid-19. The funding that will be provided via Srinivasan Services Trust (SST), the social arm of TVS Motor Company and Sundaram-Clayton Limited, will include measures ranging from manufacturing and supplying supportive equipment such as masks to providing cooked meals to those in the frontline - from healthcare workers to police officers. 

German auto component manufacturer Henkel has announced its intent in efforts to combat the coronavirus - it has announced an amount two million euros to help fight the pandemic. The Fritz Henkel Foundation will donate 1 million euros directly to the Covid-19 Solidarity Response Fund launched by the World Health Organisation (WHO) and the United Nations (UN) Foundation. This donation will help to provide protective equipment for frontline health workers, equip diagnostic laboratories, improve data collection and analysis, establish and maintain intensive care units as well as to accelerate research and development of potential vaccines and therapeutics. Another 1 million euros will be distributed by the Fritz Henkel Foundation globally to different organisations and partners as well as to support the personal commitment and voluntary engagement of employees fighting the crisis.

Such assistance announcements by corporate biggies are indeed praiseworthy and one hopes that other big names in the automotive space shall walk down the 'helping hand' path.