TVS Supply Chain Solutions (TVS SCS), a leading supply chain management services company and part of the $8.5 bn TVS group, today announced that Mitsubishi Corporation (MC), Japan, has invested in TVS SCS for a minority...
SsangYong’s plans to sell to Haah Automotive hits roadblocks
Roadblocks could have come in the way of a change of control in SsangYong Motors even as Mahindras are battling against time to revive their ailing Korean venture. Informed sources say valuation issues may have cropped...
Ather Energy raises $35 million in funding round led by Sachin Bansal
Hero MotoCorp-backed electric two-wheeler maker Ather Energy on Saturday said it has raised funds to the tune of USD 35 million in a funding round led by Flipkart co-founder Sachin Bansal’s investment of USD 23 million...
Volkswagen truck unit Traton finalises $3.7 billion Navistar acquisition deal
Volkswagen AG’s truck unit Traton SE has agreed to pay about $3.7 billion for the outstanding shares of U.S. truck maker Navistar International Corp in a deal announced on Saturday that would extend its reach in...
Fiat Chrysler, PSA win Brazil antitrust approval for merger
Fiat Chrysler and Peugeot maker PSA have won a green light from Brazil’s competition watchdog for their planned $38 billion mergers, the regulator said. Brazil’s CADE said in a document on its website that it had...
Aston Martin hikes yield on $1.1 billion junk bond sale to 10.5%
British luxury carmaker Aston Martin has increased the yield on offer for its $1.1 billion junk bond sale to around 10.5%, according to a lead manager on the deal, making it one of the highest-yielding bond issues in...
AB Volvo and Isuzu Motors sign final agreements for strategic alliance
Truckmaker AB Volvo and Japan’s Isuzu Motors have inked a binding agreement for their previously announced strategic alliance, which includes Isuzu buying Volvo’s UD Trucks for around 20 billion Swedish...
Peugeot maker PSA whittles down Faurecia stake as part of Fiat deal
Peugeot maker PSA Group on Thursday said it had raised 308 million euros ($364 million) from selling about 7% of car parts firm Faurecia to investors, with proceeds due to be paid out to shareholders after it merges...
Carmakers FCA and PSA Peugeot confirm progress towards full merger
Fiat Chrysler and PSA Peugeot on Wednesday confirmed progress toward their full merger to create the globe’s fourth-largest carmaker, with completion expected by the end of March 2021. The merger of the Italian...
Volkswagen and Toyota truck units team up on electrification
Volkswagen AG and Toyota Motor Corp.’s truck subsidiaries are joining forces on battery-electric and fuel-cell vehicles, enabling the companies to split the costs of developing technology needed to comply with stricter...
Mercedes-Benz to lift Aston Martin stake to up to 20% by 2023
Daimler unit Mercedes-Benz is to lift its stake in Britain’s Aston Martin to up to 20% by 2023, making it one of the struggling British carmaker’s largest shareholders, Aston said on Tuesday. Aston Martin, popular for...
Continental buys stake in lidar startup Aeye
German auto supplier Continental AG said on Tuesday it is buying a minority stake in California lidar startup Aeye Inc to strengthen its position in the market for automated driving systems. Aeye specializes in long...
