Herzogenaurach, Germany  - A French car parts factory is to close with a loss of 195 jobs, the owner, German automotive parts company Schaeffler, said Thursday at its offices in Herzogenaurach.

The site at St. Simeon de Bressieux, near the south-eastern city of Grenoble, makes timing chains for engines.

London - The British government said Thursday it will offer cash incentives to motorists who buy electric cars.

Under measures due to come into force in 2011 drivers will receive a subsidy of between 2,000 to 5,000 pounds (7,500 dollars) if they switch to electric vehicles.

The green scheme, expected to cost 250 million pounds, is designed to help the environment and inject life into Britain's struggling car industry.

Electric cars will soon be a "real option" for motorists, Transport Minister Geoff Hoon said in announcing the plans.

According to Business Standard's Wednesday report, expansion is on the cards for HMSI - Honda Motorcycle and Scooter India. The 100 per cent subsidiary of the Japanese Honda Motor Corporation, the HMSI intends spending Rs 300 crore in the next three-year period.

Citing the rather poor performance of the Indian heavy truck segment, the Hero Group has decided to pull out of its joint venture with Daimler! With the Hero Group quitting the collaboration for making commercial vehicles in India, Daimler will buy back Hero's 40 percent stake - worth 16 million euros - in Daimler Hero Motor Corporation (DHMC).

While Daimler says the Hero Group back-out was due to financial constraints, the Chairman of Hero Corporate Services, Sunil Kant Munjal, cited plunging commercial vehicle sales in India - which dropped 22 percent in FY 2009 - as the reason.

Stockholm - Heavy-vehicle maker Scania is mulling wage cuts to avert job losses in the wake of weaker demand for trucks because of the financial crisis, Swedish radio news reported Thursday.

Management and unions have not launched formal negotiations, but the company has previously scrapped some bonus payments and has let 2,000 temporary employees go.

Scania spokesman Erik Ljungberg said options being studied included the agreement signed last month between the blue collar union IF Metall and the Association of Swedish Engineering Industries that allows pay cuts of up to 20 per cent in return for not firing workers.

New York  - A group including Black Oak partners and several dealers is eyeing the purchase the Saturn subsidiary of General Motors (GM), the US carmaker said Wednesday.

But GM said that if the sale of Saturn is not "viable," then the line's "operations would be wound down over time."

In a statement, the Detroit automaker said that a panel of Saturn dealers had been "studying the feasibility" of a sale or spin-off. The only buyer GM identified by name was Black Oak Partners.

GM has also considered selling its Hummer line.