Tata Motors on Thursday said it has completed the transfer of its defence business with effect from April 1 to Tata Advanced Systems Ltd (TASL) for an upfront consideration of Rs 227.7 crore. The transfer has been...
CDP-led consortium finalises sweeter bid for Atlantia unit: sources
A consortium of investors led by Italian state lender Cassa Depositi e Prestiti (CDP) has finalised a sweeter offer for Atlantia’s 88% stake in motorway unit Autostrade per l’Italia, two sources said on Wednesday. The...
Honda agrees to sell British car plant to logistics giant Panattoni
Honda has agreed to sell its only British car plant at Swindon in southern England to logistics giant Panattoni, a company spokesman said on Saturday, as the new owner reportedly plans to make a large investment at the...
M&M board gives in-principle approval to consolidation of step-down subsidiary with itself
Mahindra Electric Mobility, the electric vehicles (EV) arm of Mahindra and Mahindra, will be merged into the parent company as part of its EV strategy according to a notice to the stock exchanges on Friday evening. The...
Norway blocks Rolls-Royce’s plan to sell engine maker to Russia
Norway will block Rolls-Royce from selling a Norwegian maritime engine maker to a Russian company on national security grounds, its justice minister told parliament on Tuesday. The blocking of the deal is a blow for...
Continental says supervisory board approves Vitesco spin-off
German car parts maker Continental said on Tuesday its supervisory board approved the spin-off plans of the company’s powertrain unit Vitesco Technologies. The company said that from the beginning of 2022, the business...
Mahindra receives RBI approval to reduce stake in SsangYong Motor
Mahindra & Mahindra has received the green light from the Reserve Bank of India to reduce its ownership in Korean automaker SsangYong Motor, putting the sale process with the potential investor on fast track...
VW-backed EV charging firm Ionity to sell minority stake: sources
Electric vehicle charging group Ionity, whose owners include Volkswagen and Daimler, is looking to sell a minority stake to rake in 400 million-500 million euros ($479 million-597 million), three people familiar with...
Tata Motors shareholders approve hiving off passenger vehicle business into new entity
Tata Motors on Monday said its shareholders have approved hiving off its passenger vehicles business into a separate entity. On March 5, the shareholders of the company voted to consider and approve the transfer of the...
Volkswagen’s Porsche AG to raise stake in Croatia’s Rimac to 24%
Volkswagen’s luxury division Porsche AG has agreed to raise its stake in Rimac Automobili to 24%, the companies said on Monday, in a deal that values the Croatian electric hypercar maker at 795 million euros ($947...
Geely and Volvo to launch powertrain venture after merger scrapped
China’s Geely Automobile and its Swedish sister company Volvo Cars will abandon merger plans but launch a new entity to combine their powertrain operations and expand cooperation on electric vehicles, the companies said...
Amazon partners Mahindra for EVs
Amazon.com Inc.’s India unit agreed to order more electric vehicles (EVs) from Mahindra Electric as part of a plan to boost its local eco-friendly delivery fleet to 10,000 by 2025 and deliver on founder Jeff Bezos’...
