Automaker Stellantis said on Wednesday it would acquire U.S. auto finance provider First Investors Financial Services Group for about $285 million in cash from an investor group led by Gallatin Point Capital LLC. The...
Fintech firm Ideanomics to buy VIA Motors for nearly $630 mln
Financial technology company Ideanomics Inc said on Monday that it will acquire VIA Motors International Inc in an all-stock deal that would value the electric commercial vehicle firm at about $630 million. The...
Motherson Group eyes acquisitions as pandemic presents attractive opportunities
Auto components major Motherson Sumi Systems Ltd (MSSL) is gearing up to bring in more entities under its fold with many companies looking for partners or acquirers due to challenging business environment amid the...
Tata Motors gets NCLT nod for hiving off passenger vehicles biz into separate entity
Homegrown auto major Tata Motors (TML) on Friday said it has received approval of the National Company Law Tribunal (NCLT) Mumbai bench to hive off its passenger vehicles business unit into a separate entity. Earlier in...
CCI approves internal corporate reorganization of Daimler AG group of cos
The Competition Commission of India (CCI) on Monday gave its approval for an internal corporate reorganization of the Daimler AG group of companies. The approval was sought under the green channel route, an automatic...
Three Wheels United partners Piaggio Vehicles to accelerate adoption of electric 3-wheelers
Three Wheels United (TWU), Bengaluru-based tech-enabled financier of light electric vehicles, has partnered Piaggio Vehicles to accelerate the adoption of e-three wheelers in the country, according to a statement...
Daimler could sell trucks stake a year after spin off -paper
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...
