In a boost to its electric vehicle (EV) push, Tata Motors on Tuesday closed a deal to raise Rs 7,500 crore from TPG Rise Climate and Abu Dhabi’s ADQ. This is the first major fundraising by an Indian carmaker to push...
Automobile
Hero MotoCorp partners with Gilera Motors Argentina
Motorcycles and scooters manufacturer Hero MotoCorp on Wednesday announced its partnership with Gilera Motors Argentina to expand its operations in one of the key markets in South America. Hero MotoCorp and Gilera...
Russia’s Yandex acquires Israeli e-scooter company
Russian tech giant Yandex is expanding in Israel with the acquisition of electric scooter rental company Wind, adding to its taxi and food delivery services in the country. Yandex said on Tuesday it expects the deal to...
Tamil Nadu, Tatas in talks for takeover of Ford India’s Chennai factory
The Tamil Nadu government is in talks with the Tata Group over a possible takeover of Ford India’s unit at Maraimalai Nagar in Chennai, a top government source told ET on Thursday. The buzz about Tata Motors...
Toyota buys software firm Renovo to accelerate self-driving tech development
Toyota Motor Corp’s Silicon Valley research arm on Thursday said it had acquired automotive operating system software company Renovo to help accelerate the development of fully-autonomous connected vehicles. “I am...
EV maker Polestar strikes $20-bln deal with Gores Guggenheim SPAC
Swedish electric-car maker Polestar said on Monday it will go public by merging with a U.S.-listed blank-check firm backed by billionaire Alec Gores and investment bank Guggenheim Partners at an enterprise value of $20...
EV maker Polestar to go public at $20 billion valuation via SPAC -sources
Swedish electric car maker Polestar is nearing a deal to go public through a merger with blank-check firm Gores Guggenheim Inc at a valuation of $20 billion including debt, according to people familiar with the matter...
Daimler expands European battery network with 33% stake in ACC venture
Daimler’s Mercedes-Benz said on Friday it will take a 33% stake in battery cell manufacturer Automotive Cells Company (ACC), expanding its European sourcing of battery cells key to its EV ambitions and currently...
SsangYong receives three bids for stake sale, looks to get investor on board by November
Cash strapped Korean automaker, SsangYong Motors which is on the lookout for a potential investor has received only three final bids for a stake sale. This is against nearly a dozen companies, who had evinced interest...
Stellantis to buy U.S. auto finance provider First Investors for $285 million
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...
