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...
Mitsubishi looks to sell California products terminal and trading arm
Mitsubishi Corp is looking to sell a fuel terminal that provides transportation fuels which meet California’s stringent emissions requirements, two sources familiar with the matter told Reuters on Wednesday. The...
Bharat Forge arm hikes stake in EV maker Tork Motors
Auto components major Bharat Forge on Tuesday said its arm Kalyani Powertrain Ltd has hiked stake in electric two-wheeler maker Tork Motors to 60.66 per cent through conversion of debentures into equity shares. Earlier...
GM exploring electric boats, buys 25% stake in engine maker
General Motors is testing the water in electric boating by buying a 25% stake in a Seattle company that makes battery-powered outboard motors. The Detroit automaker said Monday that it bought the stake in Pure...
NCLAT stays Competition Commission’s Rs 200 cr penalty on Maruti Suzuki
Appellate tribunal NCLAT on Monday stayed the Rs 200 crore penalty imposed by the Competition Commission on Maruti Suzuki but directed the car maker to deposit 10 per cent of the total amount within three weeks. The...
Family has no plan to sell Escorts, says Nikhil Nanda after Kubota deal
“The fourth generation at the Nanda family is absolutely committed to Escorts,” Nikhil Nanda, chairman and managing director of Escorts, has said soon after announcing the onboarding of Japanese tractor maker Kubota as...
E-scooter firm TIER buys Nextbike in bid to expand offerings
Berlin-based e-scooter operator TIER Mobility has bought bike-sharing firm Nextbike to create Europe’s largest provider of shared lightweight vehicles, the companies said on Monday. The deal, which will bring...
