US-based private equity (PE) major Warburg Pincus has acquired a majority stake for an undisclosed sum in automobile parts maker Imperial Auto Industries. VCCircle had first reported the development in January. Stone...
Ford has no plans to spin off EV or gasoline-powered vehicle businesses -CEO
Ford Motor Co has no plans to spin off its electric vehicle or gasoline-powered vehicle businesses, Chief Executive Jim Farley said on Wednesday. “We have no plans to spin off our electric business or our ICE...
Minda Industries raising stake in subsidiary firm Minda Kosei Aluminum Wheels to 77.35%
Minda Industries Ltd (MIL), the flagship firm of the UNO MINDA Group, said it is increasing its stake in the subsidiary company Minda Kosei Aluminum Wheels (MKA) to 77.35 per cent from 70 per cent, with an investment of...
CCI approves acquisition of equity in Escorts by Kubota Corporation
Fair trade regulator CCI on Wednesday approved the acquisition of certain additional equity in Escorts Ltd by Kubota Corporation. The transaction involves Kubota’s acquisition of certain additional equity shares...
Premier Ltd, the maker of popular Padmini cars, to be acquired by Fab Metals under insolvency process
Premier Ltd, known for manufacturing Premier Padmini cars popular in pre-liberalisation days, will soon be acquired by Chennai-based Fab Metals Pvt Ltd under the insolvency process, according to a disclosure made to the...
TVS Motor acquires 75% in largest Swiss e-bike player SEMG for $100 million
TVS Motor Company, the flagship firm of the $8.5-billion TVS Group, has acquired a 75 per cent stake in Swiss e-Mobility Group (SEMG) for $100 million (about Rs 752 crore). This is the company’s second acquisition in...
Omega Seiki Mobility inks strategic alliance with Bengaluru-based Sun Mobility
EV maker Omega Seiki Mobility (OSM) on Friday said it has entered into a strategic alliance with Bengaluru-based Sun Mobility to initially launch 10,000 units of its cargo three-wheeler, Rage+, with smart, swappable...
Hero invests Rs 420 cr in Ather Energy, to unveil its first EV in March
Hero Motocorp, the world’s largest manufacturer of motorcycles and scooters, on Friday, announced an investment of up to Rs 420 crore in Ather Energy. Prior to this, Hero’s shareholding in Ather Energy was 34.8 per cent...
South Korea’s SsangYong Motor sold for $255 mn to local consortium
A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire debt-ridden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday. SsangYong is burdened...
Daimler Truck spin-off already unlocking value, Daimler CEO says
Spinning off Daimler Truck has already proven a solid move to unlock value for Daimler AG shareholders, CEO Ola Kaellenius said on Friday, with the execution of its electrification strategy the next step. Speaking hours...
eBikeGo acquires manufacturing, marketing rights for European e-scooter Muvi from Torrot
Electric two-wheeler mobility firm eBikeGo has acquired the manufacturing and marketing rights for European e-scooter Muvi from Spanish automotive company Torrot, a statement said on Tuesday. This vehicle will be...
CNH Industrial buys software house NX9 to bolster agriculture business
Vehicle maker CNH Industrial (CNHI.MI) has bought software engineering firm NX9, it said on Thursday, in a further step to boost digital innovation in its agricultural division as it prepares to spin off its truck, bus...
