British auto retailer Pendragon Plc said on Monday it was no longer exploring merger talks with rival Lookers Plc, after a media report over the weekend said that Lookers rejected its approach. The coronavirus shut...
Continental delays Vitesco spin-off, blaming market turmoil
German car parts maker Continental said on Thursday it was postponing the planned spin-off of its powertrain unit Vitesco Technologies, citing ongoing economic uncertainty for the delay. The spread of the coronavirus...
TVS Motor to raise ₹500 crore by issuing NCDs
The board of directors of TVS Motor Company Ltd, in a meeting held earlier today, approved the issuance of non-convertible debentures or NCDs aggregating up to ₹500 crore on a private placement basis, the company said...
Ashok Leyland acquires 3.36% share in Hinduja Leyland Finance
Hinduja Group flagship Ashok Leyland Ltd has acquired 15,796,406 shares of Rs 10 each constituting 3.36 per cent of the equity of its subsidiary Hinduja Leyland Finance Ltd for Rs 187.97 crore. The acquisition is part...
Daimler teams up with Volvo Trucks in fuel cell venture
Daimler and Volvo Trucks have agreed to join forces to develop, produce and sell fuel cell systems for heavy-duty vehicles, in a sign that the coronavirus crisis is accelerating consolidation. Global car and truck...
Norton acquisition brings TVS Motor face-to-face with Royal Enfield
The acquisition of iconic British motorcycle brand Norton brings the Chennai-based TVS Motor Company Ltd face-to-face with Royal Enfield in the niche category of age-old classic motorcycles not only in India but also in...
TVS Motor Company acquires Britain’s ‘Norton’ sporting motorcycle
TVS Motor Company on Friday announced that it has acquired Britain’s iconic sporting motorcycle, “Norton”, in an all-cash deal for consideration of GBP16 million by acquiring certain assets of Norton Motorcycles (U.K.)...
Mahindra & Mahindra to raise ₹1,000 crore via NCDs
Mahindra & Mahindra (M&M) on Friday said it will raise up to ₹1,000 crore by issuing securities on private placement basis. “The loans and investment committee at its meeting held on Friday approved...
Renault quits its main China venture after weak sales
French automaker Renault SA is ditching its main passenger car business in China following poor sales at the loss-making venture with Dongfeng Motor Group. A slowdown in Chinese automotive sales, which is expected to...
Fiat Chrysler and Peugeot speed up work to close the merger
Working groups at car makers Fiat Chrysler (FCA) and Peugeot’s owner PSA are speeding up work on closing their alliance deal despite the coronavirus crisis, PSA chief executive officer Carlos Tavares said in an internal...
Hit by coronavirus, Fiat Chrysler, Peugeot seek to boost cash before merger
With their sales hammered by the coronavirus outbreak, car makers Fiat Chrysler and Peugeot’s owner PSA have postponed their shareholder meetings and are looking at ways to boost cash reserves ahead of their planned...
Promoters raise stakes in auto firms as equities crash
Promoters of automobile and auto ancillary companies such as Hero MotoCorp Ltd, Bajaj Auto Ltd, and Tata Motors Ltd have stepped up open market purchases of equity shares and other financial instruments in the past few...
