Auto components major Samvardhana Motherson International Ltd on Monday said it will acquire 11 per cent stake in Israel’s REE Automotive Ltd for up to USD 15 million. Samvardhana Motherson International Ltd...
Chinese EV maker BYD to buy German car distributor Hedin Electric
China’s BYD will buy its German distributor Hedin Electric Mobility, BYD and Hedin said on Friday, as BYD moves to establish itself as a major electric vehicle maker in Europe. BYD Automotive GmbH will take charge...
China’s Didi in talks to sell smart auto assets to state-backed NavInfo’s unit, say sources
China’s Didi Global is in advanced talks to sell its smart driving and cockpit assets to state-backed digital mapping firm NavInfo’s unit, as the ride-hailer focuses on its core business after a bruising...
India’s Mahindra seeks nod for $3 bln Shaanxi JV, sources say
Indian automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group have agreed to set up a $3 billion joint venture to build a car manufacturing plant in India and are awaiting New Delhi’s...
Tata Motors board approves demerger into two listed companies, scheme to conclude within 15 months
Tata Motors Ltd (TML) announced on Thursday, August 1, that its board approved the demerger scheme of its commercial vehicle (CV) arm, which will eventually lead to two separate listed entities. India’s most...
Stellantis triggers government scrutiny with Comau stake sale
Carmaker Stellantis has agreed to sell a majority stake in its robotic unit Comau to One Equity Partners, in a deal that has drawn scrutiny from Italy’s government. Financial details of the transaction were not...
Demerger to secure synergies across biz verticals, says Tata Motors Chairman N Chandrasekaran
The proposed demerger of existing automotive businesses into two listed entities will help in securing synergies across its PV and JLR verticals in areas of EVs and autonomous vehicles, Tata Motors Chairman N...
EV startup Fisker files for bankruptcy
U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday as deal talks with a big automaker collapsed, exposing the startup to the fallout of a rapid cash burn to deliver its Ocean SUV in...
Hyundai to sell up to 17.5% stake in India unit IPO, sources say
South Korea’s Hyundai Motor is looking to sell a stake of up to 17.5% in the planned initial public offering of its India unit to raise up to $3 billion, three sources familiar with the matter said, in what could...
Japan banks to begin divesting their strategic Toyota shareholdings, Bloomberg reports
Japan’s two biggest banks will start divesting their strategic shareholdings in Toyota Motor – worth a combined $8.5 billion – and will seek to sell into the automaker’s planned share buybacks...
Tata Motors gains after board OKs to set up new subsidiary, approved merger of TMFL with TCL
Tata Motors added 1.92% to Rs 921.50 after the company said that its board has approved to set up a wholly-owned subsidiary namely TML Commercial Vehicles (TMLCVL). TMLCVL is proposed to be incorporated with a paid-up...
NCLT okays Metalysts Forgings’ acquisition by Deccan value-led group
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The...
