Automotive Updates - 18th February 2015

•  DSK Hyosung will set up a plant in Maharashtra and manufacture most of its brands sold in the country, a top official of the company said here on Monday on the sidelines of its first dealership opening in Jaipur."Plans are already in place for a manufacturing facility that will come up in Maharashtra. It will 18 months to build the plant and the rollout of products is likely to happen in two years," Shivapada Ray, chief operating officer of DSK Motowheels.(ETauto.com)

• Royal Enfield, part of the Eicher Group, will invest Rs 500 crore in 2015 towards product development, capex and other development areas, said Siddhartha Lal, MD and CEO, Eicher Motors. In a press release, Eicher said that its motorcycle business posted its best-ever yearly performance in 2014. The company recorded its highest ever total income from operations at Rs 3031.2 crore, an increase of  78 percent from Rs 1,702.5 crore in 2013. The company significantly improved profitability posting an EBIT of 22.5 percent bettering the 16.6 percent in 2013. - See more at: http://www.autocarpro.in/news-national/royal-enfield-invest-rs-500-crore-product-development-capex-7726#sthash.3jz4F6B2.dpuf

• Domestic auto firm Mahindra & Mahindra plans to launch its electric car in Europe in next six months as it looks to tap rising demand for eco-friendly vehicles in the continent. “The way electric vehicle technology is growing in Europe, we expect it to play an important role there. We are also looking at the opportunity to launch our electric vehicle there and expect to do so in next six months,” Mahindra & Mahindra chief executive, automotive division, Pravin Shah told PTI.Read more at: http://www.livemint.com/Industry/ZvGGDos1hvGkiYXG8XwwxI/MM-plans-to-launch-electric-car-in-Europe-in-six-months.html?utm_source=copy

• Czech carmaker Skoda has unveiled the latest version of its flagship model Superb sedan as it looks to enhance position in the mid-class segment and will be launched in India by the second half of 2016.“This car marks the beginning of a new era for Skoda. In recent years, we have renewed and expanded our model range. The new Skoda Superb demonstrates our aspirations in the automotive mid-class segment,” Skoda CEO Winfried Vahland said during the global unveiling of the car here.(financialexpress)

• Europe-based RUAG Aerostructures and Tata group firm TAL Manufacturing Solutions have joined hands for production and supply of aero structural components and sub-assemblies for Airbus 320 programme.The two companies have signed a multi-year contract with a potential value of over $150 million and the new work scope allows RUAG to strengthen and optimise the global supply chain to the advantage of Airbus, said a release today. (ETauto.com)

• BMW India has launched the country’s first hybrid supercar, the i8. It is powered by a 3-cylinder petrol engine coupled with an electric motor, returning a claimed fuel efficiency of 47 km/l. The company has also showcased the i3.Read more at http://www.motorbeam.com/2015/02/cars/bmw-i8/bmw-i8-launched-in-india-priced-at-rs-2-29-crores/#9E3kRKiplUCSOFKD.99

• Mahindra & Mahindra Ltd, India’s largest utility vehicle maker is recalling the XUV 500, its premier sport utility vehicle, to upgrade the side curtain airbag software on all the models manufactured on or before July 2014, the company said in a statement on Tuesday. The upgrade will be carried out free of cost for customers who will be individually contacted by the company. This upgrade will be limited only to a software change and no parts will be replaced, it said.Read more at: http://www.livemint.com/Industry/D8SGbaIYdRaAuTJEQgqYRP/Mahindra-recalls-XUV5OO-for-upgrading-airbag-software.html?utm_source=copy

• Seeking to regain its lost market share in the mid-sized sedan segment, Hyundai Motor India (HMIL) on Wednesday launched an updated version of Verna, priced between Rs 7.74 lakh and Rs 12.19 lakh (ex-showroom Delhi).The model, which competes with Honda City and Maruti Ciaz, will be available in both petrol and diesel options and have ten variants.(businesstoday)

• Controlling shareholders of Hero MotoCorp Ltd, India's biggest maker of motorcycles and scooters, plan to sell $300 million worth of shares later in the day, according to a term sheet seen by Reuters.Brij Mohan Lal Om Prakash would sell nearly 7 million shares in India's biggest maker of motorcycles and scooters in open market transactions on Wednesday, the term sheet for the deal showed. (ETauto.com)