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...
PSA, Fiat Chrysler agree on terms of mega-merger
French carmaker PSA and US-Italian rival Fiat Chrysler said Wednesday they had agreed on the terms of a merger to create the world’s fourth largest automaker as the sector grapples with the difficult and costly...
Daimler seeks majority control of its main China joint venture: Report
Daimler is seeking to buy a majority stake in its Chinese operations, three people familiar with the matter told Reuters, after initial efforts to raise its stake failed and as Chinese investors tighten their grip on...
Boards of Fiat Chrysler, Peugeot owner PSA, sign off on merger: sources
The boards of French carmaker PSA, the owner of Peugeot, and Fiat Chrysler (FCA) in separate meetings on Tuesday approved a binding agreement for a $50 billion merger, sources said. The two mid-sized carmakers announced...
Tata Motors in alliance talks with Chinese firms
Tata Motors Ltd, India’s largest vehicle maker, is in initial talks with a couple of Chinese automobile companies for a tie-up for its passenger vehicles business, three people aware of the development said. These...
China’s BAIC raising Daimler stake to unseat Geely as top shareholder
Daimler’s main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources...
French want PSA-Fiat board guarantee in $50 billion merger – sources
French shareholders in the planned merger of PSA and Fiat Chrysler are seeking reassurances that they will retain a numerical advantage on a combined board if CEO Carlos Tavares leaves, two sources close to PSA said...
