Automotive Updates - 3rd October 2014

• French auto major Renault plans to enter new verticals, including used car business in India next year, besides launching two new models, to make its presence felt in the market which it sees as "the biggest challenge".The company, which is targeting a market share of over 5 per cent in India, is also leveraging on its 4,500 strong R&D Centre in Chennai to come up with products which are "right for the country".(financial express)

• Leading auto-components manufacturer Minda Industries, will partner Japanese multi-national Panasonic for manufacturing automotive batteries in India.The 60:40 joint venture between Panasonic and Minda Industries, is being set up to make batteries and cater to OEMs and as an aftermarket supplier for two-wheeler and passenger vehicle segment.(ETauto.com)

• Daimler and Renault-Nissan said on Friday they would extend a manufacturing alliance to include engines and gearboxes.In a joint press release, Daimler and Renault said the partnership would include an agreement for Renault to supply Daimler with a 1.5 litre four cylinder diesel engine for use in its Mercedes-Benz C-Class.Mercedes in turn will supply its 2 litre four cylinder gasoline engine for use by Nissan's premium brand Infiniti.Nissan has been granted a licence to make Daimler's 9-speed automatic transmission for use in Infiniti vehicles.(financial express)

• Mercedes-Benz has no plans to increase its stake in Aston Martin at present, according to Daimler chief Dieter Zetsche. The two car companies forged a technical partnership last year that resulted in Daimler owning five percent of non-voting shares in Aston Martin. Speaking at the Paris Motor Show, Zetsche said the current five percent stake Mercedes has in Aston is ideal because it “would not be in Aston’s interests to be incorporated into a big corporate organisation, as it would include risk”. (Autocarpro.in)

• US auto giant General Motors on Friday urgently halted deliveries of two 2015 flagship model pickup trucks after discovering a fault in their airbag safety system. The firm is contacting a “small” number of customers who already bought the 2015 Chevrolet Colorado or the GMC Canyon to urge them to bring the cars in for repair as soon as possible.(livemint.com)

•  Foreign investors have been allowed by the RBI to buy up to 45 per cent of the paid-up equity capital in Apollo Tyres."Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs), through primary market and stock exchanges, can now purchase up to 45 per cent of the paid-up capital ofApollo Tyres Limited under the Portfolio Investment Scheme (PIS)," RBI said in a notification.(ETauto.com)

• Hyundai has showcased two new turbocharged petrol direct injected (T-GDI) engines at the Paris Motor Show including a 1.0-litre triple that will be installed in the new i20 next year. The engines are 1.0-litre and 1.4-litre units which are part of a new generation of engines from the Korean company's Kappa family. The smaller unit is a 998cc triple that's based on Hyundai's existing Kappa 1.0-litre MPI engine, albeit with various enhancements and new technologies, including direct petrol injection and a small, single-scroll turbocharger. Developed at Hyundai's European Technical Centre in Rüsselsheim, Germany, can be tuned to produce up to 118bhp and 127lb ft of torque. (Autocarpro.in)

• Setco Automotive's foray into theaftermarket business has helped the clutch supplier offset the loss of revenue from medium and heavy commercial vehicle, or MHCV, makers in one of the longest spells of slowdown in the industry over the past decade.The component maker is the largest clutch supplier to MHCV makers, accounting for 100% requirement of automakers such as Tata Motors, Eicher Volvo and AMW, and nearly 65% of Ashok Leyland's requirement.(ETauto.com)