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’...
Tesla rival Lucid Motors to go public in $24-billion mega SPAC deal
Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion...
CDP consortium’s bid to value Atlantia unit at 9 billion euros – sources
Cassa Depositi e Prestiti (CDP) on Tuesday gave the go-ahead to submit an offer to buy Atlantia’s 88% stake in Autostrade per l’Italia unit, CDP said, after two sources told Reuters the bid would value 100% of...
Tesla rival Lucid Motors to go public in $11.8 billion blank-check merger
Luxury electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at $11.75 billion. Lucid, run by an ex...
Electric truck maker Xos to go public via $2 billion SPAC merger
Xos Inc, an electric commercial vehicle maker, on Monday agreed to go public through a merger with blank-check firm NextGen Acquisition Corp, in a deal valuing the combined entity at $2 billion. The deal will provide...
Lucid Motors nears SPAC deal as Klein launches financing – sources
Luxury electric vehicle maker Lucid Motors Inc is getting close to a deal to go public at a roughly $12-billion valuation after veteran dealmaker Michael Klein’s blank-check acquisition firm launched a financing effort...
TVS Group files scheme of amalgamation involving holding companies
The $8.5 billion TVS Group on Thursday filed a composite scheme of amalgamation and arrangement involving its holding companies at the National Company Law Tribunal in Chennai. Families that run the group on December 10...
