Polestar, the premium electric vehicle maker owned by China’s Geely and Volvo Cars, is in talks to go public through a merger with blank-check firm Gores Guggenheim Inc, Bloomberg News reported on Thursday. The...
Mahindra Group acquires subsidiary Hisarlar’s farm equipment unit as it reshuffles business in Turkey
Farm equipment major Mahindra and Mahindra has reshuffled its business in Turkey by acquiring the entire agriculture machinery business of its subsidiary Hisarlar while relinquishing its stake in other businesses of the...
Renault seals electric car battery deals with Envision, Verkor
French carmaker Renault said on Monday it had sealed partnerships with China’s Envision AESC and France’s Verkor to produce electric car batteries in northern France. Carmakers globally are racing to keep ahead of...
Volkswagen considering buying majority stake in Europcar
Germany’s Volkswagen confirmed on Thursday it is considering acquiring a majority stake in car rental company Europcar as it seeks to tap into the trend for consumers to rent rather than own a vehicle. Volkswagen said...
Brakes India completes acquisition of JV partner’s shareholding
Brakes India on Wednesday announced the completion of the acquisition of its joint venture partner’s shareholding. Brakes India was founded in 1962 as a joint venture between T V Sundram Iyengar and Sons Private...
Minda Industries forays in Uzbekistan, to buy 51% stake in UZ Chasys
Auto components maker Minda Industries on Tuesday said it will acquire 51 per cent stake in Uzbekistan-based automotive lighting manufacture UZ Chasys for around ₹58 crore. The company has won the bid to acquire a 51...
Hyundai completes Boston Dynamics purchase from SoftBank
SoftBank Group Corp said on Monday South Korea’s Hyundai Motor Group had completed the acquisition of robotics firm Boston Dynamics from the Japanese conglomerate. The deal, which was announced last December and valued...
Ford to buy EV charging management platform Electriphi
Ford Motor Co said on Thursday it would acquire Electriphi, which provides charging management and fleet monitoring software for electric vehicles, as the carmaker aims to electrify 40% of its automobiles by 2030...
Wejo to go public, deal values auto data startup at $800 mln
Auto data startup Wejo, backed by General Motors Co, will go public through a reverse merger with blank-check company Virtuoso Acquisition Corp in a deal that values the British company at $800 million including debt...
VW says Lamborghini is not for sale after reported $9.2 bln bid
Volkswagen has received a 7.5 billion euro ($9.2 billion) offer for Lamborghini, British weekly magazine Autocar reported on Tuesday, though VW’s Audi said the supercar brand was not for sale. The non-binding...
Nissan follows Renault in selling $1.4 bn Daimler stake
Nissan Motor Co. is selling stock it owns in Daimler AG worth about 1.19 billion euros ($1.4 billion), joining its partner Renault SA in generating funds for turnaround efforts. Nissan is offering about 16.4 million...
Motherson Sumi acquires Bombardier’s electrical wiring business
Auto components major Motherson Sumi Systems Ltd on Monday said it has completed the acquisition of Bombardier’s electrical wiring interconnection systems (EWIS) business in Huehuetoca, Mexico. In October last...
