The Tamil Nadu government is in talks with the Tata Group over a possible takeover of Ford India’s unit at Maraimalai Nagar in Chennai, a top government source told ET on Thursday. The buzz about Tata Motors...
Toyota buys software firm Renovo to accelerate self-driving tech development
Toyota Motor Corp’s Silicon Valley research arm on Thursday said it had acquired automotive operating system software company Renovo to help accelerate the development of fully-autonomous connected vehicles. “I am...
EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC
Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20...
EV maker Polestar to go public at $20 billion valuation via SPAC -sources
Swedish electric car maker Polestar is nearing a deal to go public through a merger with blank-check firm Gores Guggenheim Inc at a valuation of $20 billion including debt, according to people familiar with the matter...
Daimler expands European battery network with 33% stake in ACC venture
Daimler’s Mercedes-Benz said on Friday it will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), expanding its European sourcing of battery cells key to its EV ambitions and currently...
SsangYong receives three bids for stake sale, looks to get investor on board by November
Cash strapped Korean automaker, SsangYong Motors which is on the lookout for a potential investor has received only three final bids for a stake sale. This is against nearly a dozen companies, who had evinced interest...
Stellantis to buy U.S. auto finance provider First Investors for $285 million
Automaker Stellantis said on Wednesday it would acquire U.S. auto finance provider First Investors Financial Services Group for about $285 million in cash from an investor group led by Gallatin Point Capital LLC. The...
Fintech firm Ideanomics to buy VIA Motors for nearly $630 mln
Financial technology company Ideanomics Inc said on Monday that it will acquire VIA Motors International Inc in an all-stock deal that would value the electric commercial vehicle firm at about $630 million. The...
Motherson Group eyes acquisitions as pandemic presents attractive opportunities
Auto components major Motherson Sumi Systems Ltd (MSSL) is gearing up to bring in more entities under its fold with many companies looking for partners or acquirers due to challenging business environment amid the...
Tata Motors gets NCLT nod for hiving off passenger vehicles biz into separate entity
Homegrown auto major Tata Motors (TML) on Friday said it has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity. Earlier in...
CCI approves internal corporate reorganization of Daimler AG group of cos
The Competition Commission of India (CCI) on Monday gave its approval for an internal corporate reorganization of the Daimler AG group of companies. The approval was sought under the green channel route, an automatic...
Three Wheels United partners Piaggio Vehicles to accelerate adoption of electric 3-wheelers
Three Wheels United (TWU), Bengaluru-based tech-enabled financier of light electric vehicles, has partnered Piaggio Vehicles to accelerate the adoption of e-three wheelers in the country, according to a statement...
