Visteon Corp. files for bankruptcy protection
At a time when American car manufacturers like GM and Chrysler are facing bankruptcy, it isn't too surprising to see that some automotive components suppliers are also facing the same predicament. The latest to join the list of companies brought to their knees by the Great American Depression of 2009 is auto components major, Visteon Corp., which has filed for bankruptcy protection.
Visteon, which is also present in India (Visteon Automotive Systems India Pvt. Ltd.), has sought Chapter 11 protection for the company and some of its US subsidiaries, but according to a statement issued by the company, its subsidiaries and joint ventures outside the US will not be affected by this filing.
'Visteon is taking this step to maximize the long-term value of the company. During the reorganisation period, we will seek to address our capital structure and legacy costs that are not sustainable given the current economic environment,' said Donald J Stebbins, Chairman and CEO, Visteon Corp. He added that the company would continue with its operations during the reorganisation period.
Ford, which is one of the main customers of Visteon, has executed a commitment letter to support debtor-in-possession financing for Visteon's restructuring efforts and to ensure long-term continuity of supply.
[Via: indiaautomotive]
New Maruti MUV Launch By October
Maruti Suzuki is launching a new multi-utility vehicle (MUV) by October this year. To be built on the Versa platform, the car is expected to strengthen the company's portfolio in the van segment. The new car, codenamed O2, is currently at an advanced stage of design and would be produced at Maruti's Gurgaon plant.
There are not much details regarding its specifications and features and Maruti is yet to take a call on pricing, which is estimated to be around Rs. 6-8 lakh. The new MPV would be pitted against other MPVs like Toyota Innova, Mahindra Xylo, Chevrolet Tavera and the upcoming Tata Indicruz.
By launching an MUV, Maruti Suzuki wants to foray in the market that's currently dominated by the Toyota Innova. The MUV segment is almost one-third of the UV segment and it will fill the gap. It will be a people carrier, so the company zeroed in on design and comfort. A sizeable market will be the BPOs that need to transport their employees to and from home.
[Via: motorbeam]
Bajaj To Launch 125cc Discover By September
Bajaj Auto is gearing up to launch the 125cc variant of the Discover in India. The Bajaj Discover is made in Chakan, Pune and debuted in 2004. Currently, Bajaj sells Discover with a 135cc engine and the model was refurbished last year. The bike is likely to be available by September, 2009. The 125cc Discover will be made at Bajaj's Pantnagar plant.
The Discover was the second Bajaj bike (after the Pulsar) to come with the six spoke alloys and the patented "exhaus-tec"- basically a resonator that boosts torque at lower rpms. It also employed the Bajaj trademark "DTS-i" digital twin spark ignition technology used in the Bajaj Pulsar 150 and Pulsar 180 DTS-i.
[Via: motorbeam]
Tata Motors launches its world standard truck range
Tata Motors has unveiled its new range of world standard trucks. The range comprises multi-axle trucks, tractor-trailers, tippers, mixers, and special application vehicles. Besides India, these trucks will also be introduced, in a phased manned, in South Korea, South Africa, SAARC countries and the Middle East.
'The developing infrastructure in India makes it possible for transporters to reap the benefit of trucks with higher power, speed and carrying capacity. The new range from Tata Motors will meet those needs. It will also help us penetrate international markets more effectively and competitively,' said Ratan N Tata, Chairman of Tata Sons and Tata Motors.
'The range is an output of collaboration across the Tata Motors family, supplemented by inputs from partners across the world. This approach has enabled us to harness appropriate expertise and develop relevant products faster than ever before,' added Ravi Kant, Managing Director of Tata Motors.
Tata Motors' world truck range has been jointly developed by Tata Motors and its subsidiaries, Tata Daewoo in South Korea, and the Tata Motors European Technical Centre plc, in the UK. The company has harnessed the best of inputs and technologies - in styling, engines, transmission, suspension, chassis frames, fabrication and dies - from partners based in Italy, Germany, Sweden, the US, Japan and South Korea.
Variants and Specifications
Tata Motors world truck range offers a higher power-to-weight ratio translating into faster turnaround time, better reliability and durability, resulting in higher revenue generation for the transporter than is the norm now.
The versatility of the range meets several needs. There are tractor-trailers and multi-axle trucks for long distance transportation, rigid trucks for short distance distribution, tippers, mixers and cranes for construction and mining and trucks for special applications like reefers, bulkers, and tip-trailers.
The capacity of the trucks can be from 10 tonnes to 75 tonnes Gross Combination Weight (GCW), to meet a wide mix of usages. Powertrain options stretch from 150PS to 560PS, with suitable engines, transmissions and axles of different makes.
Additional features on offer include automated transmissions and air suspension. Also, every truck will have Global Positioning System (GPS) for effective vehicle tracking, as standard fitment.
Tata Motors' world trucks have spacious, air-conditioned cabs come in three different lengths (day, rest and sleeper), three different heights (flat, low-dome and high-dome roof) and two different widths.
While there are two trim levels, features include reclining seats, adjustable steering wheel, seat belts and armrests (for both the driver and co-driver) for driver comfort and safety. These features are designed to induce longer and more trips and safer driving.
The world truck range has been designed to meet stringent safety norms of the markets that it will be sold in. In terms of emissions, the range is Euro III and Euro IV complaint, while being Euro V ready.
[Via: indiaautomotive]
Bajaj To Move Supreme Court Against TVS
In a setback to Bajaj Auto, the Madras High Court on Tuesday, has dismissed the company's appeal seeking a stay on a recent order that allowed its arch-rival TVS Motor to manufacture and market the controversial bike Flame, in its original form. But, Bajaj Auto is not backing down and plans to slug it out by taking TVS to the Supreme Court.
After more than a year of legal battle, the court ruled last week that TVS Motor can manufacture and market 125-cc Flame in its original form. A two-member bench lifted an interim injunction that prevented TVS from using an engine with two spark plugs and three valves.
Simultaneously, the application filed by TVS Motor against Bajaj from interfering in the manufacturing and marketing of 125-cc Flame with 3 valves and 2 spark plugs was allowed, with the result that TVS Motor can manufacture and market 125-cc Flame.
But Bajaj sought a stay on this order, that the injunction should be extended for another two weeks. With its plea dismissed, the next step for Bajaj is to file an appeal at the Supreme Court. Its lawyers said this will be done in the next few weeks.
TVS Motor was forced to re-launch its 125-cc Flame motorcycle last year, in the wake of an engine technology patent row with Bajaj Auto. The re-launched version came with a single spark plug, replacing the twin spark plug that triggered the legal tussle between the companies.
[Via: motorbeam]
Volkswagen, BYD sign MoU for electric mobility
German car manufacturer, Volkswagen, and Chinese carmaker BYD have signed a memorandum of understanding, the objective of which is to 'explore the options for partnership in the area of hybrids and electric vehicles powered by lithium batteries.'
'Volkswagen will consistently expand its successful BlueMotion technology. Hybrids and electric vehicles will play an increasingly important role, of course. Particularly for the Chinese market, potential partners such as BYD could support us in quickly expanding our activities,' said Dr Ulrich Hackenberg, Member of the Board for Technical Development at Volkswagen.
[Via: indiaautomotive]