Automotive Updates - 16th September 2014

• India's largest twowheeler maker Hero MotoCorp plans to invest Rs 2,200 crore to set up a manufacturing plant in Andhra Pradesh, according to a senior official. The state Cabinet on Monday cleared allotment of 600 acres near Sri Cityintegrated business city in Chittoor district to Hero Moto-Corp, steeling a march over neighbouring states to host the factory. (economicstimes.com)

• Mahindra and Mahindra Ltd, India’s largest maker of tractors and sport-utility vehicles, is in advanced talks to buy PSA Peugeot Citroen’s scooter business, according to three people familiar with the matter. An announcement may be made soon, two of the people said, declining to be identified because the discussions are private. Ruzbeh Irani, head of group communications at Mahindra, declined to comment, as did Jean-Baptiste Thomas, a spokesman for Paris-based Peugeot.(livemint.com)

• Automobile Manufacturers Association (JAMA).The MoU was signed to reinforce the friendly and cooperative relationship between both the organizations and help both them officially provide opportunities to continue the exchange of information. (ETauto.com)

• It’s raining limited editions in India due on the onset of the festive season. Now Mitsubishi India joined the limited edition bandwagon and has launched the limited edition of the Pajero Sport. The limited edition of the Pajero Sport has been price at INR 23.99 lakh (ex-showroom, Delhi). The limited edition Pajero Sport gets some equipment additions and a couple of cosmetic changes.(motorids.com)

• Piaggio India has launched another limited edition variant based on Vespa VX with ‘Elegante’ badge. Launch price of Vespa Elegante is not revealed officially, but expect it to be in the Rs 80,000 range. Here are specs, features and photo gallery of the new fashion in town.(rushlane.com)

• Jaguar has launched a locally manufactured petrol powered version of its flagship saloon - XJ, priced at Rs.93.24 lakhs (ex-showroom Mumbai, pre-octroi). (team-bhp.com)

• The Union Minister for Heavy Industries, Mr. Anant Geete, has confirmed that the excise duty cuts that was announced during the Union Budget earlier this year is set to continue at least till March 2015.(indianautoblogs.com)

• Maruti Suzuki has reportedly garnered 5,000 bookings for its premium sedan, the Ciaz, bookings for which opened on September 3, says sources. This is a good figure for a company that has not been able to make a mark for itself in the sedan space with the SX4, launched in 2006 being withdrawn after lacklustre sales.(autocarpro.in)

• Hero MotoCorp annual report revealed that the company is working on setting up a fourth plant in the state of Gujarat. Now, Reuters reveals that the world’s largest two wheeler manufacturer has already started preparing for the setup of their fifth plant in India, even when the construction of their fourth plant is yet to commence.(rushlane,com)

• ZF Friedrichshafen AG and TRW Automotive Holdings Corp have announced that they have entered into a definitive agreement under which ZF will acquire TRW. Under the terms of the agreement, ZF will acquire TRW in an all-cash transaction valued at approximately US$ 12.4 billion based on equity value. The transaction is subject to several customary closing conditions, including antitrust and US foreign investment clearance and the approval of TRW’s stockholders representing more than 50 percent of TRW’s outstanding shares. ZF expects the transaction to close in the first half of 2015 .(autocarpro.in)

•  Shelby Davis and Anand Mahindra jointly committed scholarship funding amounting to $12.5 million over the next 5 years which will have a significant impact on the UWC movement. The Mahindra Group has committed to donate Rs. 6 crore or Rs. 60 million each year for the next five years to fund scholarships for students at UWC Mahindra College. (ETauto.com)

• Mahindra Scorpio facelift  is one of the highly awaited vehicles of the year and with each passing as the date of its speculated launch on September 25, 2014 is coming closer we are getting new updates associated with facelift Scorpio, despite of its being caught going under test drives. According to recent reports the dealers of Mahindra across the country have started bookings for facelift Scorpio from September 15, 2014.(carkhabri.com)