Automotive Updates - 1st and 2nd October 2014

• Magna International Inc has announced that one of its subsidiaries has signed an agreement to acquire the Techform Group of Companies, an automotive supplier of hinges, door locking rods and other closure products.  The acquisition combines Techform's product technology and processing expertise with Magna Closures' system integration, global footprint and world class manufacturing capabilities. On completion of the transaction, Magna will acquire Techform's facilities located in Penetanguishene, Ontario; Portland, Tennessee; and Hefei, Anhui China. (Autocarpro.in)

• Honda Motorcycle and Scooter India (HMS) fourth manufacturing unit in India is all set to come up in Gujarat. After establishing facilities in Manesar (Haryana), Tapukara (Rajasthan) and Narsapura (Karnataka), this will be their fourth plant in the country. Situated close to Maruti Suzuki plant, HMSI plant in Gujarat will have manufacturing capacities of 1.2 million two wheelers (scooters + motorcycles) per annum. (rushlane.com)

• Maruti Suzuki has recalled 69,555 vehicles due to a potential faulty wiring issue, making it one of their biggest recalls in the country.This recall exercise has been called for around 55,938 units of the old Swift Dzire, 12,486 units of the old Swift and 1,131 units of the Ritz manufactured between March 8, 2010 and August 11, 2013.The company said that this exercise is limited to vehicles within the above specified range and does not pertain to any other vehicle of the company or its exports. (carwale.com)

• The Panasonic Corporation of Japan and the UNO Minda Group have entered into a joint venture to develop, manufacture and sell lead acid storage batteries in India. They will float a new joint venture company to address the growing market for lead acid storage batteries for two- and four-wheeler vehicles, some for mainly for the aftermarket and UPS in India leveraging the knowhow and technology from Panasonic while tapping the mutual customer base.( Autocarpro.in)

• Honda To Invest Rs. 1100 Crores In New Gujarat Two-Wheeler Plant, The new Gujarat plant will attract an investment of Rs. 1100 crores and will churn out 1.02 million two-wheelers every year from the facility.(motorbeam.com)

• Maruti Suzuki India Limited (MSIL) and its employees are contributing Rs 2 crore to the Prime Minister’s National Relief Fund in helping relief and rebuilding efforts for Jammu and Kashmir flood victims.(rushlane.com)

• Mahindra Two Wheelers will begin shipping its first global scooter – the 110cc Gusto – launched in Delhi today within 10 days. It has an introductory price of Rs 43,000 for the Dx variant and Rs 47,000 for the Vx version (all ex-showroom Delhi). The targeted export markets are Nepal, Sri Lanka, Latin America and Africa. The first lot of Gusto scooter exports will kick off with shipments of a few hundred units with total exports constituting 10-12 percent of total sales. (Autocarpro.in)

• Honeywell Aerospace (NYSE: HON) and Tata Power’s Strategic Engineering Division (SED) has signed a licensing agreement to produce Honeywell’s Tactical Advanced Land Inertial Navigator (TALIN) in India.(rushlane.com)

• Petronas has signed up with Maruti Suzuki (MSIL) as their Genuine Lubricant Partner to supply MGDO 5W40 for its diesel vehicles. As a Maruti Genuine Lubricant Partner, Petronas benefits through this partnership. Petronas now gets access to Maruti Suzuki’s sales and service, network in India, which stood at 3,100 service workshops in over 1,445 cities on last count. Petronas’ MGDO 5W40 is being supplied in Bazaar trade. Rest assured, Petronas stands to benefit from MSIL’s outreach owing to its large network in India. (rushlane.com)

• Honeywell Turbo Technologies, a leading developer of automotive turbochargers, sees great promise in the use of turbocharges over the next few years. Global Turbo Forecasts released by the company indicate that the industry will generate $12 billion (Rs 72,000 crores) by way of revenue with equipping 49 million vehicles with turbochargers by the year 2019. (rushlane.com)