Automotive Update - 29th October 2015

•  Loss-making Indian car parts maker Amtek Auto is looking to sell its German unit Tekfor, a business with sales of more than €500 million ($554 million), two people familiar with the matter said.Amtek, which is on a drive to cut debt, has appointed Morgan Stanley to organise the sale of the maker of driveline components formerly known as Neumayer Tekfor, just two years after buying it out of an insolvency, the sources said.(livemint)

• Tata AutoComp Systems inaugurated its second manufacturing plant in China on October 16, in the Changshu Economic and Development Zone (CEDZ), Changshu.  The plant was inaugurated by R Gopalakrishnan, chairman, Tata AutoComp Systems and director, Tata Sons, along with Wang Yang, Mayor of Changshu, Fan Jianqing, vice-chairman CEDZ, Gerard Beddis executive vice-president, Cherry-Jaguar Land Rover, Zeng Lingpeng, vice-president, Cherry-Jaguar Land Rover and S K Ray, acting consul General India. Ajay Tandon, managing director, Tata AutoComp, Arvind Goel, COO Tata AutoComp from India and James Zhan, president, Tata Sons China, were also present on this occasion. - See more at: http://www.autocarpro.in/news-national/tata-autocomp-plant-changshu-china-9578#sthash.79bLIxWH.dpuf

• Country’s largest car maker Maruti Suzuki has received over 4,600 bookings of its latest premium hatchback Baleno launched recently, a top company official said on Wednesday.The company had re-introduced Baleno two days ago at New Delhi aiming to garner a significant market share in the premium hatchback segment. The car would compete with Hyundai Motor India’s Elite i20 and Jazz from Honda cars in India. (livemint)

•  Maruti Suzuki India will finally go ahead with its much-delayed minority shareholders voting to let parent Suzuki invest and own the upcoming plant in Gujarat on November 16.The board of directors of the company today approved seeking nod from shareholders through postal ballot/online voting from November 16 to December 15.Maruti Suzuki India Chairman R C Bhargava said: "Board discussed voting by minority shareholders on Gujarat plant and approved the final contract manufacturing agreement with Suzuki. The voting will commence on November 16. It will have to be kept open for 30 days, so it will end on December 15."(Etauto)

• Country's largest carmaker Maruti Suzuki is working on introducing safety features in all variants of its cars, both existing and new, a company official said on Wednesday. Currently, auto-manufacturers introduce safety features only in middle and top variants of some existing models.Speaking more on the occasion, R S Kalsi, Maruti Suzuki India Executive Director (Marketing and Sales) said, "We are working on making safety features as standard feature in all existing products of ours. We are planning to introduce a model fitted with safety features ahead of the governments regulation."(cartrade)

• The Renault-Nissan alliance has been one of the few successful business partnerships that the automobile industry has witnessed. Joined hands in 1999, the alliance has been mutually beneficial to both the companies. Renault currently owns 43.4% stake in Nissan, while Nissan owns 15% stake in Renault. The alliance has also joined hands with Daimler AG holding 3.1% stake, while Daimler AG holds 3.1% stake (each) in Renault and Nissan. Since April 2015, there has been a power struggle within the alliance, and now in a three-page document sent to the French government, Nissan demands for changes to the 16-year-old alliance, giving the companies equal weight for better decision-making and a cross-shareholdings of 25-35%.(teambhp)