Indian automaker Mahindra & Mahindra and China’s Shaanxi Automobile Group have agreed to set up a $3 billion joint venture to build a car manufacturing plant in India and are awaiting New Delhi’s...
Tata Motors board approves demerger into two listed companies, scheme to conclude within 15 months
Tata Motors Ltd (TML) announced on Thursday, August 1, that its board approved the demerger scheme of its commercial vehicle (CV) arm, which will eventually lead to two separate listed entities. India’s most...
Stellantis triggers government scrutiny with Comau stake sale
Carmaker Stellantis has agreed to sell a majority stake in its robotic unit Comau to One Equity Partners, in a deal that has drawn scrutiny from Italy’s government. Financial details of the transaction were not...
Demerger to secure synergies across biz verticals, says Tata Motors Chairman N Chandrasekaran
The proposed demerger of existing automotive businesses into two listed entities will help in securing synergies across its PV and JLR verticals in areas of EVs and autonomous vehicles, Tata Motors Chairman N...
EV startup Fisker files for bankruptcy
U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday as deal talks with a big automaker collapsed, exposing the startup to the fallout of a rapid cash burn to deliver its Ocean SUV in...
Hyundai to sell up to 17.5% stake in India unit IPO, sources say
South Korea’s Hyundai Motor is looking to sell a stake of up to 17.5% in the planned initial public offering of its India unit to raise up to $3 billion, three sources familiar with the matter said, in what could...
Japan banks to begin divesting their strategic Toyota shareholdings, Bloomberg reports
Japan’s two biggest banks will start divesting their strategic shareholdings in Toyota Motor – worth a combined $8.5 billion – and will seek to sell into the automaker’s planned share buybacks...
Tata Motors gains after board OKs to set up new subsidiary, approved merger of TMFL with TCL
Tata Motors added 1.92% to Rs 921.50 after the company said that its board has approved to set up a wholly-owned subsidiary namely TML Commercial Vehicles (TMLCVL). TMLCVL is proposed to be incorporated with a paid-up...
NCLT okays Metalysts Forgings’ acquisition by Deccan value-led group
After a delay of nearly seven years, lenders of Amtek Auto’s listed subsidiary Metalysts Forgings are likely to recover part of their dues, as the bankruptcy court has approved the company’s acquisition. The...
Chinese EV maker Aiways to go public in US via deal with Hudson Acquisition SPAC
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquisition Corp in a deal that should value the company around $400 million, the two companies said...
Volkswagen explores stock sale in truckmaker Traton, Bloomberg reports
Volkswagen is exploring the sale of as much as 1 billion euros ($1.08 billion) worth of stock in its heavy truckmaking arm Traton SE, Bloomberg News reported on Monday, citing people familiar with the matter. The German...
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Tata Motors is planning to hive off its vehicle financing subsidiaries under Tata Motors Finance Ltd by way of a merger with Tata Capital, to streamline its operations and deleverage its balance sheet, said people in...
