Automotive Updates - 16th June 2015

• Trade relation between India and Russia has the potential to reach $30 billion , said Confederation of Indian Industries (CII).CII will be organizing a CEO's delegation representing leading Indian Businesses at St Petersburg International Economic Forum (SPIEF) 2015, to be held from 18-20 June, and at the India Russia Business Roundtable.Etauto.com)

• One of the world’s top five automotive component suppliers, the Germany-based Continental AG plans to scale up its Indian research and development headcount in 2015. The 34.5 billion euro (Rs 263,718 crore) company, which has a well-balanced engineering footprint in India across multiple locations, has a dedicated technical centre in Bangalore (under Continental Automotive Components India – a 100 percent subsidiary of Continental AG) for the development of projects under advanced driver assist systems (ADAS), chassis and safety and other areas. - See more at: http://www.autocarpro.in/news-national/exclusive-continental-ag-scale-indian-manpower-8638#sthash.bMUePBr9.dpuf

• World’s largest two-wheeler manufacturer Hero MotoCorp today launched a new model of 100cc bike Passion Pro, priced at Rs 47,850 (ex-showroom Delhi).The new Passion Pro is more stylish and powerful and has features such as flush type fuel tank cap, 240 mm front disc brakes, power start, front side cowl, new tail light and digital-analogue combo meter, Hero MotoCorp said in a statement.(financial express)

• Pune based engineering firm RSB Transmissions will be setting up a propeller shaft manufacturing facility in Sri City, Andhra Pradesh. The facility will be set up at in investment of Rs 60cr. The company signed a pact to this effect with the Andhra Pradesh Government.SK Behera, Vice Chairman & MD, RSB Group said, "RSB is a market leader in propeller shaft in catering to leading OEMs and this pact will further boost RSB's market share catering to CV/SUV/LCV segments,". The company will be catering to OEMs like Isuzu Motors, Ashok Leyland and Daimler among others.(Etauto)

• Mahindra Sona Ltd, an auto-parts venture between Mahindra and Mahindra Ltd and Sona Group, is looking to raise as much as Rs.250 crore from private equity investors, according to two people familiar with the development.“They are looking to raise money to fund working capital requirements of the company as well as to provide a partial exit to existing investors,” said the first person mentioned above, who asked to remain unidentified.(livemint)

• Automobile manufacturer Hindustan Motors, maker of the now discontinued 'Ambassador' car, today said its Chief Executive Officer Moloy Chowdhury has resigned with immediate effect. "Moloy Chowdhury, Chief Executive Officer of the company has resigned from the services with effect from close of business hours on June 15, 2015(today)", Hindustan Motors said in a BSE filing.(cartrade)

• Tata owned Jaguar Land Rover India on Tuesday opened a new Parts Distribution Centre (PDC) for the country, in Bhiwandi, near Mumbai.This state-of-the-art facility, spread over 70,000 square feet, will have regionally- optimised inventory supporting both Jaguar and Land Rover brands, controlled by Jaguar Land Rover's central Inventory Management team. (ETauto.com)

• According to a report, Land Rover has started production of the Land Rover Discovery Sport SUV at its CKD assembly plant near Pune. The Land Rover Discover Sport is likely to be launched in the Indian market sometime in August – September 2015. With a new design philosophy and more efficient engines, the Land Rover Discover Sport will surely be a lot better product than its predecessor – the Freelander.Ditching the existing 2.2-litre diesel unit, the new Discovery Sport will feature a 2.0-litre Ingenium diesel engine that will be tuned for two power states - 148bhp and 178bhp. While the former will be badged as TD4 150PS, the latter marked as TD4 180PS. (cartrade)