Several global auto companies are said to be in the running for a minority stake in SsangYong Motor Co, the ailing South Korean subsidiary of Mahindra & Mahindra. The Indian conglomerate is looking to scale down its...
M&M eyes strategic partnership in EV biz, no Covid impact on launch plans
Homegrown auto major Mahindra and Mahindra (M&M) is looking for strategic partners for its electric vehicles business in order to further scale it up, a top company official said on Friday. The auto major, which...
Russian regulator backs Hyundai purchase of GM plant in St Petersburg
Russia’s Anti-Monopoly Service said on Monday it had approved Hyundai’s possible acquisition of a General Motors factory in St Petersburg, the Interfax news agency reported. Hyundai’s Russian unit confirmed last month...
Hero Electric partners with Autovert Tech for subscription-based financing plans
Hero Electric on Thursday said it has partnered with fintech start-up Autovert Technologies for subscription-based financing plans for its electric two-wheelers. Under the partnership, Hero Electric customers can avail...
Italian State lender could buy Autostrade’s stake in IPO: source
Italian state lender Cassa Depositi e Prestiti (CDP) could buy a controlling stake in Atlantia’s motorway unit Autostrade in an initial public offering to allay investors concerns over the price of the asset, a source...
Hero MotoCorp invests Rs 84 cr in smart scooter maker Ather Energy
Hero MotoCorp, the world’s largest maker of motorcycles and scooters, announced a further investment of Rs 84 crore ($11 million) in Ather Energy on Friday, taking up its shareholding in the smart electric scooter start...
EU probe into Fiat, Peugeot deal halted as regulators await data
EU antitrust regulators have suspended their investigation into Fiat Chrysler and Peugeot maker PSA’s proposed merger while waiting for the carmakers to provide requested data. “This procedure in merger investigations...
Electric bus maker Proterra considers deal to go public: sources
U.S. electric bus manufacturer Proterra Inc is considering going public through a merger with a blank-check company, eschewing the traditional initial public offering that it explored last year, according to people...
Alibaba-backed EV maker Xpeng raises $500 million
Chinese electric vehicle (EV) manufacturer Xpeng Motors, backed by Alibaba Group Holding Ltd, said on Monday it has raised around $500 million in its latest funding round. As enthusiasm builds for more climate-friendly...
Atlantia, CDP pick advisers as investors line up for Autostrade’s stake: sources
Italy’s Atlantia has picked Bank of America Merrill Lynch, JP Morgan and Mediobanca to advise on the sale of a stake in its motorway unit, two sources close to the matter said, as suitors line up to invest in its...
Fiat Chrysler, PSA to emerge as Stellantis following merger next year
The combined company resulting from the merger of Italian-American carmaker Fiat Chrysler Automobiles and France’s Peugeot owner PSA will be called Stellantis, the automakers said on Wednesday. Stellantis is derived...
Electric car maker Fisker to go public through SPAC deal at $2.9 billion valuation
Electric car maker Fisker will go public through a merger with a blank-check company backed by alternative investment manager Apollo Global Management Inc at a valuation of $2.9 billion, the companies said on Monday...
