Chinese group Baoneng is on a list of possible buyers of French car maker PSA Group’s 50% stake in Shenzhen-based Capsa, which builds cars under PSA’s premium DS brand, a PSA spokesman said on Friday. PSA’s board will...
PSA readying sale of its stake in Chinese tie-up with Changan
Peugeot maker PSA Group is preparing to sell its 50% stake in a joint venture with Chinese partner Chongqing Changan Automotive, a spokesman for the French carmaker said on Thursday. Changan has already signaled in...
Competition watchdog approves Toyota Motor-Suzuki Motor Corp minority stake deal
The Competition Commission of India on Tuesday said it has approved the minority stake purchase deal of Toyota Motor Corporation and Suzuki Motor Corporation. The transaction involves acquisition of a “minority...
MG Motor India partners Exicom Tele-Systems to re-use batteries for ZS EV
MG Motor India on Tuesday said it has partnered with Exicom Tele-Systems for second-life use of batteries which would be deployed in its upcoming electric model ZS. As part of the partnership, Exicom will re-use...
China’s BAIC willing to increase Daimler holding after 5% stake buy – sources
Daimler’s main Chinese joint venture partner BAIC Group has signalled its intention to increase its stake in the German luxury car manufacturer, sources briefed on the matter said, after it built up a 5% Daimler holding...
Fiat Chrysler shrugs GM lawsuit, says confident of Peugeot deal by Dec
Fiat Chrysler (FCA) on Thursday brushed off a shock lawsuit from General Motors (GM) and said it was confident of reaching a binding merger deal with Peugeot owner PSA Group by the end of this year to create the...
Jaguar Land Rover chief wants alliances, not a merger
Luxury automaker Jaguar Land Rover’s chief executive told Reuters he is open to more alliances to lower the costs of developing technology, but is not looking for a full-blown corporate merger. “We feel the pressure”...
PSA trade unions give the nod to merger with Fiat
The majority of unions representing workers at Peugeot maker PSA are in favour of a planned $50 billion merger with Fiat Chrysler, PSA executives and union representatives said. However, the unions said that once the...
Tata Motors to raise $300 million through offshore bonds
Tata Motors Ltd will raise $300 million through unsecured offshore debt financing, the company said in a filing to the stock exchanges late Wednesday. The bonds will bear a coupon rate of 5.875% and will mature in 2025...
Owner of Russia’s largest car dealership considering sale
The controlling shareholder of Rolf, Russia’s largest car dealership, said on Thursday it was exploring options for selling the firm. A spokeswoman for Delance Limited, which is Cyprus-based and controlled by the family...
Chinese auto firms eye GM’s last plant in India
SAIC Motor Corp. Ltd and Great Wall Motors Co. Ltd, two of China’s biggest automakers, are in talks with General Motors Co. to acquire the Detroit carmaker’s last remaining factory in India, two people aware of the...
Toyota, Suzuki in JV to dismantle, recycle vehicles in India
Suzuki Motor Corp. and Toyota Motor Corp. will start a vehicle dismantling and recycling joint venture in India as the Japanese automakers expand their alliance in the country. The joint venture, Maruti Suzuki Toyotsu...
