After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The...
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquisition Corp in a deal that should value the company around $400 million, the two companies said...
Volkswagen explores stock sale in truckmaker Traton, Bloomberg reports
Volkswagen is exploring the sale of as much as 1 billion euros ($1.08 billion) worth of stock in its heavy truckmaking arm Traton SE, Bloomberg News reported on Monday, citing people familiar with the matter. The German...
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Tata Motors is planning to hive off its vehicle financing subsidiaries under Tata Motors Finance Ltd by way of a merger with Tata Capital, to streamline its operations and deleverage its balance sheet, said people in...
French shipper CMA CGM acquires 10% of Volvo-Renault electric van business
France’s CMA CGM has acquired a 10% stake in the Flexis electric van venture set up by Renault and Volvo Group, the companies said on Wednesday, as the shipper expands further into the logistics business. CMA CGM...
NCLAT dismisses Sundaram Brake’s plea against CCI cease and desist order on railways tendering
The National Company Law Appellate Tribunal on Tuesday dismissed a plea by Sundaram Brake Linings, challenging a cease and desist order passed against the company by the fair trade regulator CCI. NCLAT upheld orders...
Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
A group representing major automakers on Friday urged the White House to oppose any effort by steelmaker Cleveland-Cliffs to buy rival U.S. Steel, warning that a deal could result in anti-competitive pricing for...
Fisker deal talks with big automaker collapse, NYSE to delist stock
Cash-strapped Fisker’s talks with a large automaker for a potential deal have collapsed and the New York Stock Exchange plans to delist the electric-vehicle startup’s shares due to “abnormally...
India’s Ashok Leyland partners with Minus Zero to develop self-driving trucks
Indian automaker Ashok Leyland has partnered with Minus Zero to develop self-driving trucks, the autonomous driving technology startup said on Tuesday. The self-driving trucks will initially be developed for ports...
Electric-vehicle startup Fisker prepares for possible bankruptcy filing
Troubled electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running...
M&M promoter group entity initiates sale of shares; sale will reduce promoters’ stake to 18.57% from 19.32
Mahindra & Mahindra’s promoter group entity Prudential Management and Services Pvt Ltd (PMSL) has initiated a secondary sale of shares in the company as the “family is looking for liquidity for specific...
Tata Motors to split into 2 listed companies
Tata Motors Ltd will split into two listed businesses comprising the commercial vehicle and the passenger vehicle businesses that includes its British luxury car unit Jaguar Land Rover (JLR). Separation of the two...
