Faraday Future will go public through a merger with Property Solutions Acquisition Corp in a deal valuing the combined entity at $3.4 billion, becoming the latest electric-vehicle firm to join the blank-check dealmaking...
Hyundai invests in startup UVeye for automated vehicle inspection system
South Korean automaker Hyundai Motor has invested in Israeli startup UVeye, a developer of automated vehicle inspection systems, to use its platform in global production lines. The Tel Aviv-based UVeye said it has...
Hero Motors acquires strategic stake in Hewland Engineering for undisclosed amount
Auto components maker Hero Motors Company on Monday said it has acquired a strategic stake in UK-based transmission design technology firm, Hewland Engineering for an undisclosed sum. The acquisition will enable the...
Motherson Sumi enters Turkey market through acquisition of Plas Met Group
Motherson Sumi Systems Ltd, one of the country’s biggest automotive component manufacturers, on Monday announced acquisition of 75% stake in two Turkish automotive parts manufacturing companies, Plast Met Plastik Metal...
After long journey, Fiat Chrysler and PSA seal merger to become Stellantis
Fiat Chrysler and PSA sealed their long-awaited merger on Saturday to create Stellantis, the world’s fourth-largest auto group with deep enough pockets to fund the shift to electric driving and take on bigger rivals...
Electric-bus maker Proterra to go public through $1.6 billion SPAC deal
Proterra Inc on Tuesday agreed to go public through a merger with ArcLight Clean Transition Corp, in a deal valued at $1.6 billion, including debt, joining several electric vehicle makers that have listed in the last...
Volkswagen Finance acquires majority stake in digital lending platform KUWY
Volkswagen Finance India on Monday said that it has acquired a majority stake in automotive fintech company KUWY Technology for an undisclosed amount to leverage the latter’s network to grow its new and used car...
EV firm Lucid Motors in talks to go public via SPAC deal – Bloomberg News
Electric vehicle startup Lucid Motors is in talks to go public through a merger with a blank-check firm backed by Michael Klein, a veteran Wall Street dealmaker, Bloomberg News reported on Monday, citing people familiar...
Hyundai says in early talks with Apple after electric vehicle tie-up report
South Korea’s Hyundai Motor Co said on Friday it was in early talks with Apple, after local media reported the firms were discussing an electric car and battery tie-up, sending Hyundai shares surging 25%. The report...
Fiat Chrysler, Peugeot shareholders approve merger
Shareholders of Fiat Chrysler and PSA Peugeot voted Monday to merge and create the world’s fourth-largest auto company which, its architects hope, can more readily take on an enormous technological shift in the...
For Peugeot and FCA, completing their merger is just the start
When Carlos Tavares takes the wheel of a combined PSA and Fiat Chrysler this year he will quickly need to revive the carmaker’s fortunes in China, rationalise a sprawling global empire and address massive overcapacity...
Ford, Mahindra call off auto joint venture
Ford Motor Co said on Thursday it was calling off its automotive joint venture with India’s Mahindra and Mahindra Ltd due to the challenges caused by the COVID-19 pandemic. The companies said in separate...
