Automotive Updates - 8th September 2015

• The Maruti Suzuki's stock is expected to attract the attention of global passive funds in the next few months following the company's decision to raise the FPI (or, Foreign Portfolio Investor) holding limit to 40 percent, from 24 percent.A higher FPI limit will increase the free-float in Maruti shares and increase chances of the stock finding a place the MSCI India index a key index tracked by several global emerging market fund managers.(Etauto)

•  Mahindra & Mahindra Ltd., India’s largest maker of sport utility vehicles, is close to an agreement to purchase Italian car designer Pininfarina SpA, people familiar with the matter said. After talks stalled months ago, the companies are now seeking to complete negotiations in the next few days, said the people, who asked not to be identified because the discussions are private. Mahindra and Pininfarina have yet to agree on the final purchase price as well as issues related to the designer’s debt, the people said. Representatives for Pininfarina and Mahindra didn’t immediately respond to requests for comment.(livemint)

• In yet another instance of the growing connect between industry and academia, Tata Motors has entered into long-term partnership with Birla Institute of Technology & Science, Pilani (BITS, Pilani) to create a platform for a series of technical education programs. This initiative is aimed at building world-class technical skills to not only bridge existing skill gaps but also to prepare a future-ready organization. This is a first industry-academia partnership for Tata Motors to develop technical talent at multiple levels in the organisation. Gajendra Chandel, chief human resource officer, Tata Motors, and Professor G Sundar, BITS director (Off Campus Programs & Industry Engagement), signed a five-year MOU to ensure the engineering programs are aimed at meeting the requirements of the automotive industry. - See more at: http://www.autocarpro.in/news-national/tata-motors-partners-bits-pilani-automotive-engineering-programme-9222#sthash.LZZXFl3g.dpuf

• Mahindra & Mahindra has announced the launch of the Mahindra 415 DI Tractor in the 40 HP category.According to the company, the 415 DI is best suited for agri applications like rotavator, cultivator and thresher. It is powered by a 2,730cc, 4-cylinder, naturally-aspirated diesel engine that develops 158 Nm of torque. It has a power take-off (PTO) rating of 36 HP, a hydraulic lift capacity of 1,500 kg and a backup torque rating of 18%. The tractor has comes with a partial constant mesh (PCM) transmission and oil immersed multi disc brakes.(team-bhp)

• Delhi-based self-drive car rental service provider Voler on Monday launched its services in the capital, offering consumers a choice to rent a car on an hourly, daily or monthly basis.The company has said it is set to launch its services in major metro cities in six months."Voler means 'to fly' and we want to give people the opportunity to define their own route, milestones and journey. (Etauto)

• Aequs Pvt. Ltd, a aerospace parts maker, on Monday opened a facility in Karnataka’s Belgavi district to supply components to France’s Airbus Group.Aequs said it will invest $50 million in the aerospace component manufacturing facility over the next five years. The facility will generate a revenue of $75 million a year.The aerospace manufacturing facility was inaugurated on Monday by defence minister Manohar Parrikar. Situated on the 250-acre Aequs Special Economic Zone (SEZ), the facility is dubbed as the country’s largest aerospace machining centre for Airbus Group. (livemint)

• Earlier this year, Renault unveiled the Oroch, a medium-sized pickup truck at Buenos Aires. While the vehicle was originally aimed at South American markets, latest media reports suggest that the company could consider bringing it to India.Based on the Duster, the Oroch has a twin cab body style with four doors and five seats. It is positioned in the 0.5-tonne segment.Renault wants to expand its light commercial vehicle (LCV) business and for this, it plans to explore new markets. Renault believes that markets in the Asia-Pacific region will be instrumental in achieving its goal. The pickup truck segment accounts for 40% of global LCV sales.(team-bhp)