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...
U.S. gives investors until 2022 to divest from sanctioned Russian co GAZ
The United States on Wednesday granted investors another year to divest from Russian automaker GAZ PAO, a company linked to sanctioned Russian tycoon Oleg Deripaska. The U.S. Treasury’s Office of Foreign Assets Control...
Hyundai buys GM’s car plant in Russia’s St. Petersburg
South-Korean automaker Hyundai Motor has completed the acquisition of a General Motors factory in Russia’s St. Petersburg, Hyundai spokeswoman Yulia Tikhonravova told reporters at an online conference on Tuesday. The GM...
Fiat Chrysler, PSA win EU antitrust okay for $38 billion merger
Fiat Chrysler and French rival PSA gained EU antitrust approval on Monday for their $38 billion merger to create the world’s No.4 carmaker after pledging to boost Japanese rival Toyota Motor. The two carmakers are...
Tata Motors to buy partner’s share in Tata Marcopolo Motors for ₹100 crore
Tata Motors Ltd (TML) has entered into a share purchase agreement with Brazilian bus and coach manufacturer Marcopolo S.A. to buy out the latter’s 49% share their joint venture Tata Marcopolo Motors Ltd (TMML) for ₹99...
MG Motor ties up with e-waste recycling firm TES-AMM
MG Motor India on Monday said it has partnered with e-waste recycling and end-to-end service provider, TES-AMM for recycling of batteries of its electric vehicle ZS EV. The partnership will ensure environmentally...
Rolls-Royce to start sale process for ITP Aero in first half of 2021
Rolls-Royce expects to kick-off the formal sale process for its Spain-based unit ITP Aero, expected to be the largest asset sold as part of a 2 billion pound ($2.6 billion) disposal plan, in the first half of next year...
