Auto component maker Autoline Industries has informed that its Cyprus unit, Koderat has acquired 49% stake in two Italian firms named, SZ Design Srl and Zagato S.r.l for 9 million Euro.

Hanover, Germany - World truckmakers were optimistic about huge opportunities in emerging markets Thursday at the IAA truck fair in Hanover.

"The technological potential in this sector has not yet been fully tapped," said German Automobile Industry Federation (VDMA) President Matthias Wissmann in a speech opening the biennial event.

Emerging economies with rapid rates of growth have helped cheer truckmakers amid concern of recession in the West.

Expanding industry and commerce in Russia, South America and South Africa mean much larger numbers of trucks are needed to deliver goods.

That growth is also reflected in the growing number of Russian, Indian and Chinese truckbuilders with booths at the IAA fair.

Festive season is around the corner and where Indian market resorts to offer something for everyone, Mahindra & Mahindra (M&M) offers one such great news for all the SUV lovers when a new version of the Scorpio was launched in Pune and Bangalore earlier this week.

TATA Motors have, finally decided to relocate its small car project. The company would no longer remain in Singur in West Bangal. The decision in this regard has been taken in the meeting between Tata management and the Bengal government.

Stutt

New York  - Ailing US car manufacturer Chrysler unveiled electric versions of three of its models and said it had lost 400 million dollars so far this year, US business daily the Wall Street Journal reported Wednesday.

Despite cost cuts, Chrysler still was in the red and registered a 1.6-million-dollar loss for 2007, the paper quoted traders present at a Chrysler conference in Auburn Hills, Michigan, as saying.

According to the report, chief executive Robert Nardelli told businessmen that Chrysler had 11 billion dollars in cash.