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...
Warburg Pincus acquires majority stake in Imperial Auto
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...
