Sweden-based Volvo Car AB said on Saturday it had taken 100% ownership of its autonomous driving (AD) software development subsidiary Zenseact. Volvo Cars acquired 13.5% of shares in Zenseact from ECARX, which made the...
TAFE acquires interior systems biz of French automotive supplier
Tractors and farm equipment manufacturer TAFE Ltd has acquired FAURECIA, an interior business group of the French global automotive supplier FORVIA, the company said on Friday. The deal covers operations of FAURECIA in...
Tata Motors completes Rs 725 cr acquisition of Ford’s Sanand plant
Tata Passenger Electric Mobility (TPEML), a subsidiary of Tata Motors, has completed the acquisition of Ford India’s vehicle manufacturing plant in Sanand for Rs 725.7 crore, according to an exchange notification. On...
Eicher Motors announces strategic investment in Spain’s Stark Future
Eicher Motors on Thursday announced a strategic investment in Spain’s Stark Future SL to develop electric motorcycles and for technology sharing, technical licensing, and manufacturing. The company’s Board of...
TVS Motor’s Singapore arm to acquire EV related technology, assets in Germany
TVS Motor Company on Friday said its Singapore-based subsidiary has inked a pact to acquire Electric Vehicle (EV) related technology and assets in Germany. The company, through its wholly-owned subsidiary TVS Motor...
Volkswagen’s Cariad to buy paragon’s AI subsidiary
Volkswagen software unit Cariad has agreed to buy automotive supplier paragon’s artificial intelligence specialist subsidiary, said paragon in a statement on Thursday. Both parties agreed to a purchase price of 40...
Russian carmaker Sollers to buy out Mazda’s stake in Vladivostok plant
Russian carmaker Sollers will buy out Japanese auto maker Mazda’s 50% stake in their joint venture car assembly plant in Vladivostok, Sollers said on Thursday. In a results statement on Thursday, Mazda said the...
Lidar duo Ouster and Velodyne to merge in all-stock deal
Lidar companies Ouster Inc and Velodyne Lidar Inc have agreed on an all-share merger that steps up consolidation in search of profitability in autonomous vehicle technology. Velodyne and Ouster compete in precision...
Minda Corporation ties up with South Korea’s Daesung Eltec for ADAS technology
Auto components maker Minda Corporation said it has collaborated with South Korean firm Daesung Eltec to bring next generation advanced driver assistance system solutions to India. The two companies signed a technology...
Banks plan to sell Tenneco buyout debt next week – sources
The banks financing buyout firm Apollo Global Management Inc’s $5.4 billion acquisition of auto parts maker Tenneco Inc aim to start selling a chunk of the junk-rated debt to investors next week, two people...
China’s Chijet to merge with new SPAC at lower valuation than prior deal
Chijet Motor Co on Wednesday agreed to go public in the United States through a merger with a blank-check company that gave the China-based automaker a 37% lesser valuation than what it had secured in another deal that...
Ather Energy raises $50 mn led by Caladium Investments
Bengaluru-based electric two-wheeler manufacturer Ather Energy has raised ₹400.6 (around $ 50 million) in a fresh funding round led by existing investor Caladium Investment and participation from Herald Square Ventures...
