Volkswagen’s truck unit Traton said on Wednesday its revised takeover bid of $43 per share for U.S. truck maker Navistar International Corp will expire on Oct. 16, if not accepted by then. Shares of Navistar fell...
Electric bike startup Ultraviolette plans to raise up to $75 mn
TVS Motor Company-backed electric motorcycle startup Ultraviolette Automotive plans to raise up to $75 million in the next 12-14 months, across series B and C rounds, three people aware of the plan told Mint. “The...
EV battery maker Romeo Systems to go public through $1.33 bn merger deal
Romeo Systems Inc, a battery maker for electric vehicles, will go public through a merger with blank check company RMG Acquisition Corp in a $1.33 billion deal, the companies said on Monday. The deal is expected to...
EV startup Faraday Future in talks to go public through SPAC merger
Electric vehicle startup Faraday Future aims to close a deal soon to go public through a reverse merger with a special-purchase acquisition company (SPAC), its chief executive said on Monday. “We are working on such a...
Tesla to acquire German battery assembly maker: source
Tesla Inc has agreed to acquire German ATW Automation, a supplier assembling battery modules and packs for the auto industry, a source familiar with the transaction said on Friday. ATW, a subsidiary of Canadian ATS...
EU regulators to decide on Fiat-PSA deal by February 2
EU antitrust regulators will decide by Feb. 2 whether to clear Fiat Chrysler (FCA) and French partner PSA’s merger, a filing on the European Commission website showed on Thursday. After a two-month halt, the...
Birla Tyres in talks with multiple partners for collaboration across tyre segments
Birla Tyres Ltd, which was recently carved out of the multi-product company Kesoram Ltd, is in talks with multiple prospective partners both within the country and overseas for strategic collaboration, including...
State investors plan to take BMW’s Hong Kong-listed China partner Brilliance private, sources say
Chinese state-backed investors are considering taking BMW’s main Chinese joint-venture partner Brilliance private, five people with knowledge of the matter told Reuters, in the latest such deal targeting beaten...
HAAH Automotive reaches out M&M to invest in SsangYong
US-based automobile distributor HAAH Automotive Holdings has reached out to India’s Mahindra & Mahindra Ltd (M&M) with an offer to invest USD 258 million in the latter’s Korean subsidiary SsangYong Motor...
TVS Motor expands ops in Colombia, announces partnership with Auteco SAS
The TVS Motor Company on Thursday announced its new distribution partnership with Autotecnica Colombiana SAS (Auteco SAS), a leading assembler of motorcycles in Colombia. Autotecnica Colombiana SAS will operate 50...
Rolls-Royce plans to raise up to 2.5 billion stg as COVID-19 bites
Britain’s Rolls-Royce Holdings Plc said on Saturday it was looking to raise up to 2.5 billion pounds ($3.2 billion) in an effort to strengthen its balance sheet. The aero-engine maker said it was considering a...
Mahindra & Mahindra terminates share purchase pact with CLP India
Mahindra & Mahindra on Friday said it has terminated share purchase agreement with CLP India to sell the entire stake held by its step down arm Mahindra Renewables in Neo Solren Pvt Ltd (NSPL) for Rs 104.67 crore...
