Getaround, a digital carsharing marketplace, will go public in the United States through a merger with a blank-check firm that values the combined entity at about $1.2 billion, the companies said on Wednesday. The deal...
Ford sells shares in EV maker Rivian for $214 mln
Ford Motor Co sold eight million shares of electric-car maker Rivian Automotive Inc for $214 million, or $26.80 apiece, the U.S. automaker said in a filing on Tuesday. Ford now holds nearly 94 million shares, or a 10.5%...
NCLT orders insolvency proceedings against Birla Tyres
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Birla Tyres Ltd in a case filed by multi-business chemicals firm SRF Ltd, an operational creditor of the BK Birla...
Renault to sell Korea unit stake to China’s Geely in turnaround push
Renault said it would sell just over a third of its Korea unit to China’s Geely Automobile Holdings for roughly $200 million, freeing up funds for the French automaker to invest in its lagging core markets and...
Renault silent after media report about transfer of Avtovaz stake
A spokesperson for French carmaker Renault declined to comment on Wednesday on a report by Russia’s Interfax saying it would transfer its majority stake in carmaker Avtovaz to a Russian science institute. Renault...
Brazil’s Tupy set to buy Traton-owned motor maker MWM, shares soar
Brazilian auto parts company Tupy SA has signed a deal to buy motor maker MWM, formally known as International Industria Automotiva da America do Sul, Tupy said on Monday, sending its shares sharply higher. The deal has...
Mercedes-Benz, Daimler Truck say cannot confirm talks on Russian stake sale
Daimler Truck and former parent Mercedes-Benz on Wednesday said they could not confirm talks on a possible sale of Mercedes-Benz’s stake in Russian vehicle and engine maker Kamaz to top shareholder Rostec...
Motherson closes in on acquisition of auto parts company Marelli
Vivek Chaand Sehgal’s Motherson Group is in an advanced stage of talks to acquire Marelli, the Italian auto components maker owned by private equity firm KKR, in what would be the Indian company’s biggest...
Mahindra says deal to sell SsangYong Motor to Edison terminated
Indian carmaker Mahindra & Mahindra said that a deal to sell its bankrupt unit, SsangYong Motor Co, to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited...
SoftBank-backed Ola Electric invests in Israeli battery tech firm StoreDot
Ola Electric, India’s leading manufacturer of EVs (electric vehicles), has invested in an Israeli battery technology company StoreDot, a pioneer in batteries with extreme fast charging (XFC) technology. The investment...
Mahindra & Mahindra to increase stake in Carnot Tech with ₹14 crore investment
Mahindra & Mahindra is looking to increase its stake in Carnot Technologies Pvt Ltd to 52.69% with an investment of around ₹14 crore, the company said on Wednesday. M&M will make a primary infusion of...
Hero Electric ties up with L&T Finance for retail finance
Hero Electric on Monday said it has joined hands with L&T Finance to offer consumers easy financing solutions for its entire product portfolio across its 750-plus dealership network. As part of the tie-up, customers...
