Tesla Inc has entered into a partnership with South Korea’s LG Chem Ltd and China’s CATL for supply of batteries used in its electric cars, the company said on Wednesday. Tesla, which has a long-standing battery supply...
Triton offers to buy Renk for 97.80 euros a share
German car and truck maker Volkswagen on Thursday said it had sold its transmissions making unit Renk to Triton for 97.80 euros a share, in a deal which gives Volkswagen proceeds of 530 million euros. Triton entered...
ZF wins U.S. approval to buy Wabco on condition of asset divestiture
German auto parts maker ZF Friedrichshafen AG won U.S. antitrust approval for its $7 billion deal to buy U.S. rival Wabco (WBC.N), the Justice Department said on Thursday. To win approval, the government required the...
Fiat Chrysler CEO: Peugeot merger talks progressing well
Fiat Chrysler’s chief executive Michael Manley said on Wednesday that merger talks with Peugeot owner PSA to create the world’s No. 4 carmaker are progressing well and he hopes to have a deal within 12-14 months...
Zoomcar raises $30 million from Sony fund, others in fresh round
Self-drive car rental platform Zoomcar has raised $30 million in its ongoing Series D round led by Sony Innovation Fund, and other existing investors, it said on Monday. The Bengaluru-based mobility startup plans to...
China’s Great Wall agrees to buy General Motors’ India plant
Great Wall Motor has agreed to buy General Motors’ (GM) car plant in India, the companies said on Friday, as the Chinese automaker expands overseas amid slowing domestic demand. The deal, which is expected to be...
Apple’s iPhone manufacturer gets into electric cars via Fiat venture
Hon Hai Precision Industry Co., the main assembler of Apple Inc.’s iPhones, will establish a joint venture with Fiat Chrysler Automobiles NV to develop and make electric vehicles in China. Hon Hai and its subsidiaries...
Guangzhou Automobile says any investment in Nio would not exceed $150 million
Chinese automaker Guangzhou Automobile Group Co Ltd said on Thursday it was in early talks with Tesla challenger Nio Inc about a financing proposal, but any potential investment would not exceed $150 million. The U.S...
Peugeot family aims to quickly raise PSA-Fiat Chrysler stake: newspaper interview
The Peugeot family, which will own a 6.2% stake in the new carmaker resulting from PSA and Fiat Chrysler’s merger, aims to increase its holding as soon as possible, a representative said in a newspaper interview. PSA...
Lithium completes acquisition of 1000 Mahindra EVs in its fleet
Mahindra Electric and Lithium Urban Technologies Thursday announced that their partnership has crossed a milestone of 1000 Mahindra Electric vehicles in the Lithium fleet. Pawan Goenka, managing director at Mahindra...
Mitsubishi, NTT to buy 30% stake in digital mapping company HERE
Digital mapping company HERE Technologies sold a 30% stake to Mitsubishi Corp and Nippon Telegraph and Telephone Corp (NTT), diluting German carmakers’ stake to 54% amid uncertainty about the profit potential from...
Hyundai to buy electric vehicle batteries from SK Innovation: report
Hyundai Motor and affiliate Kia Motors have decided to secure electric vehicle batteries from SK Innovation for the next four to five years, Maeil Business Newspaper said on Friday, citing industry sources. The sources...
