Ultra Motor, a leading electric cycle and electric scooter manufacturer, has plans to invest Rs 150 crore in India over the next three years to expand operations and launch new products, including five new e-scooters this fiscal and an electronic bike in two years.

Apart from this, the company has also slashed the price of its electric scooters by 24% in Delhi following tax benefits offered by the state government for environment friendly electronic vehicles.

Yamaha Motor India, a 100% owned subsidiary of Yamaha Motors Company Limited of Japan., is all set to double its production capacity to 8 lakh units in next two years.

For fulfilling its proposed plan, the company is setting up additional facilities at its manufacturing plant in Surajpur, Uttar Pradesh.

Presently, the company's total production capacity at its Surajpur and Faridabad plants is 4 lakh units. The company utilizes 60-70% of its capacity.

The deadlock on the issue of small car project has been almost solved. The company is likely to resume its work at the site and launch Nano as per its planning. Meanwhile, Trinamool Congress leader Mamata Bannerjee has called off the agitation around the project site at Singur. She has directed all party workers to suspend the stir and let the work go.

Leading automobile manufacturer, Toyota launched its 10th generation Corolla Altis. The Japanese company is doing its best to expand its business in the Indian market. The company has set a target of selling 4-lakh vehicles by 2015. It has set a target to sell 63000 units in the current fiacal.

Stuttgart - Daimler Saturday declined to comment on rumours that Swedish investor Cevian Capital is planning to take a major stake in the German vehicle maker with the aim of pushing through the sale of the truck division.

Selling off Daimler Trucks "is not an issue for us," a company spokesman told Deutsche Presse-Agentur dpa in Stuttgart, where Daimler has its headquarters.

He declined to comment on rumours that Cevian aimed to take a substantial stake in the company, which has seen its share price virtually halve since October last year to trade at under 40 euros (57 dollars) on Friday.

"Every investor is welcome to us," the spokesman said with regard to the Cevian rumours.

Berlin  - A select group of Berlin motorists are to obtain subsidized electric cars as part of an experiment launched Friday by Daimler and a leading German electricity company, RWE.

The auto company is to supply 100 cars powered by lithium-ion batteries. The cars will mostly be from its Smart micro-car marque and will have a range of about 100 kilometres from a single charge.