France’s CMA CGM has acquired a 10% stake in the Flexis electric van venture set up by Renault and Volvo Group, the companies said on Wednesday, as the shipper expands further into the logistics business. CMA CGM...
NCLAT dismisses Sundaram Brake’s plea against CCI cease and desist order on railways tendering
The National Company Law Appellate Tribunal on Tuesday dismissed a plea by Sundaram Brake Linings, challenging a cease and desist order passed against the company by the fair trade regulator CCI. NCLAT upheld orders...
Automakers urge White House to oppose US Steel sale to Cleveland-Cliffs
A group representing major automakers on Friday urged the White House to oppose any effort by steelmaker Cleveland-Cliffs to buy rival U.S. Steel, warning that a deal could result in anti-competitive pricing for...
Fisker deal talks with big automaker collapse, NYSE to delist stock
Cash-strapped Fisker’s talks with a large automaker for a potential deal have collapsed and the New York Stock Exchange plans to delist the electric-vehicle startup’s shares due to “abnormally...
India’s Ashok Leyland partners with Minus Zero to develop self-driving trucks
Indian automaker Ashok Leyland has partnered with Minus Zero to develop self-driving trucks, the autonomous driving technology startup said on Tuesday. The self-driving trucks will initially be developed for ports...
Electric-vehicle startup Fisker prepares for possible bankruptcy filing
Troubled electric vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running...
M&M promoter group entity initiates sale of shares; sale will reduce promoters’ stake to 18.57% from 19.32
Mahindra & Mahindra’s promoter group entity Prudential Management and Services Pvt Ltd (PMSL) has initiated a secondary sale of shares in the company as the “family is looking for liquidity for specific...
Tata Motors to split into 2 listed companies
Tata Motors Ltd will split into two listed businesses comprising the commercial vehicle and the passenger vehicle businesses that includes its British luxury car unit Jaguar Land Rover (JLR). Separation of the two...
TVS Motor buys Killwatt shares worth Rs 35 cr to hike stake to 49%
TVS Motor Company on Monday said its Singapore-based arm has increased stake in the Germany-based electric mobility products and components start-up Killwatt GmbH to 49 per cent with the acquisition of an additional...
Bajaj Auto enhances stake in Yulu Bikes with Rs 45.75 cr investment
Bajaj Auto on Thursday said it has invested an additional Rs 45.75 crore in the electric bike-sharing platform Yulu Bikes. Post the fresh investment, the company’s shareholding in Yulu Bikes stands at 18.8 per...
CCI approves Minda Corporation’s proposed 8.79% stake purchase in Pricol
The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation’s proposed 8.79 per cent stake purchase in Pricol. Minda Corporation is in the business of manufacturing auto components...
Mercedes-Benz sells stake in Russian truckmaker Kamaz
Mercedes-Benz Group has sold its stake in Russia’s largest truckmaker, Kamaz, becoming the latest Western company to complete its withdrawal from Russia following the country’s 2022 invasion of Ukraine. The...
