Daimler could divest the 35% stake it will hold in its truck division after just one year following the planned spin-off, Handelsblatt business daily reported on Thursday. An agreement to not sell the stake for three...
Volkswagen makes $3.4 billion Europcar bet on mobility services
A consortium led by Volkswagen has agreed with Europcar to launch a tender offer for the car rental company that values it at 2.9 billion euros ($3.4 billion) including debt, Europe’s largest carmaker said on Wednesday...
ChargePoint to buy VW-backed charging software firm for $295 mln
ChargePoint, one of the world’s largest electric vehicle charging networks, on Tuesday said it has agreed to acquire operating software firm has to be for 250 million euros ($295 million) to expand its foothold in...
Toyota buys U.S. mapping, road data firm to bulk up driverless tech
Toyota Motor Corp’s research arm said on Thursday it acquired U.S.-based Carmera, a provider of maps and data for driverless vehicles, marking the Japanese car maker’s latest investment in autonomous...
Ssangyong to sell plant site as part of rehabilitation
Cash strapped SsangYong Motor, is in the process to sell the plant in Pyeongtaek as part of its rehabilitation efforts, sources close to the development said. The Korean carmaker is currently undergoing a court...
Meru may explore merger with Mahindra group company
Mahindra & Mahindra may merge Meru with a group company – most likely Mahindra Logistics – to usher in operational synergies and efficiencies following its complete acquisition of the radio taxi fleet...
EV maker Polestar in talks to go public by merger with SPAC – Bloomberg News
Polestar, the premium electric vehicle maker owned by China’s Geely and Volvo Cars, is in talks to go public through a merger with blank-check firm Gores Guggenheim Inc, Bloomberg News reported on Thursday. The...
Mahindra Group acquires subsidiary Hisarlar’s farm equipment unit as it reshuffles business in Turkey
Farm equipment major Mahindra and Mahindra has reshuffled its business in Turkey by acquiring the entire agriculture machinery business of its subsidiary Hisarlar while relinquishing its stake in other businesses of the...
Renault seals electric car battery deals with Envision, Verkor
French carmaker Renault said on Monday it had sealed partnerships with China’s Envision AESC and France’s Verkor to produce electric car batteries in northern France. Carmakers globally are racing to keep ahead of...
Volkswagen considering buying majority stake in Europcar
Germany’s Volkswagen confirmed on Thursday it is considering acquiring a majority stake in car rental company Europcar as it seeks to tap into the trend for consumers to rent rather than own a vehicle. Volkswagen said...
Brakes India completes acquisition of JV partner’s shareholding
Brakes India on Wednesday announced the completion of the acquisition of its joint venture partner’s shareholding. Brakes India was founded in 1962 as a joint venture between T V Sundram Iyengar and Sons Private...
Minda Industries forays in Uzbekistan, to buy 51% stake in UZ Chasys
Auto components maker Minda Industries on Tuesday said it will acquire 51 per cent stake in Uzbekistan-based automotive lighting manufacture UZ Chasys for around ₹58 crore. The company has won the bid to acquire a 51...
