China’s Great Wall Motors Co. Ltd (GWM) has signed a memorandum of understanding with the Maharashtra government, plans to invest $1 billion, or about ₹7,600 crore, to upgrade the manufacturing facility it had acquired...
Ashok Leyland plans to raise ₹200 crore via NCDs
Commercial vehicle manufacturer Ashok Leyland Ltd said that it plans to raise ₹200 crore by issuing non-convertible debentures or NCDs on a private placement basis in one or more tranches. In a regulatory filing on...
Tata Motors to acquire Jayem Automotives stake in JT Special Vehicles
Tata Motors Ltd. (TML) has signed an agreement to purchase the 50 per cent shareholding of Jayem Automotives in JT Special Vehicles Pvt. Ltd. (JTSV). One key reason attributed was the Covid-19 impact. JTSV will become a...
Fiat, PSA face EU antitrust probe over $50 billion merger: sources
Fiat Chrysler and Peugeot maker PSA face a lengthy EU antitrust investigation after declining to offer concessions to allay EU antitrust concerns about their planned $50 billion merger, people familiar with the matter...
Fiat, PSA merger hits EU roadblock, may need concessions – sources
Fiat Chrysler’s planned $50 billion merger with Peugeot maker PSA has hit a bump after EU regulators voiced concerns about the companies’ market share in small vans, indicating concessions may be required, sources said...
Competition commission approves PSA-FCA merger
The Competition Commission of India on Thursday approved the merger of leading French automaker Groupe PSA with its Italian counterpart Fiat Chrysler Automobiles (FCA). The two European groups had announced a merger in...
Investor buys scooter company Grow, once-promising startup
Investor Felipe Henriquez has acquired a controlling stake in unlisted Latin American scooter firm Grow Mobility, the parties said on Wednesday, without disclosing financial details. Under terms of the deal, in which no...
VW pumps two billion euros into China electric vehicle bet, buys stakes in two firms
Volkswagen AG (VW) said on Friday it has agreed to invest 2.1 billion euros ($2.33 billion) in two separate Chinese electric vehicle players, upping its bet on the world’s biggest auto market as international rivals...
Ola Electric acquires Etergo, looks to launch electric scooters in India by 2021
Ola Electric Mobility Pvt Ltd, the electric vehicle arm of Ola, has acquired Amsterdam-based Etergo BV, manufacturer of electric scooters. With this acquisition, Ola Electric will enter the premium electric two-wheeler...
Volkswagen in final talks to seal biggest M&A deals in China EV sector – sources
Volkswagen AG is in final talks to seal its largest investment deals with Chinese electric vehicle (EV) firms, two sources said, as the German automaker accelerates its push into the world’s largest market for...
Renault and Nissan rebuild their alliance to ride out the coronavirus storm
When Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world’s biggest automaker by 2022. On Wednesday, the Alliance...
Ather Energy ties up with scooter rental startup Bounce
In an attempt to explore new ownership model(s), Bangalore-based electric scooter startup Ather Energy has entered into a strategic arrangement with the bike rental platform Bounce. Under the tie-up, customers can buy...
