Self-driving car startup Aurora Innovation Inc said on Thursday it would buy Montana-based Blackmore, a company that develops a detection system known as lidar, used in self-driving technology. Aurora is among dozens of...
Hyundai ties up with ALD Automotive for car leasing business
Cars and SUVs made by Hyundai Motor India Ltd (HMIL) will soon be available on lease from ALD Automotive India Ltd, as part of a tie-up announced by the two companies on Thursday. Under the deal, Hyundai vehicles can be...
China’s BAIC seeks to buy 5 percent Daimler stake – sources
China’s BAIC Group is seeking to buy a stake of up to 5 percent in Daimler as a way to secure its investment in Chinese Mercedes-Benz manufacturing company Beijing Benz Automotive, three sources familiar with the matter...
TVS Motor invests $3.85 million in TagBox
TVS Motor Company has invested $3.85 million (about Rs26.69 crore) in TagBox, a machine learning platform company as part of its Series A funding round. This round was entirely led by TVS Motor Company and its Singapore...
FCA completes sale of Magneti Marelli for 5.8 billion euros
Fiat Chrysler Automobiles said it had completed the sale of its car parts unit Magneti Marelli to Calsonic Kansei for 5.8 billion euros ($6.5 billion), slightly below the initial price tag due to the unit’s changed...
Tesla plans to raise $2 billion from stock, bond offerings
Tesla Inc. plans to raise about $2 billion through debt and stock offerings, after Elon Musk overestimated the ability of the Model 3 sedan to generate enough cash for the company to be self-sustaining. The electric-car...
TVS Motor picks up minority stake in IoT firm Altizon, invests over $2.5-mn
Automobile manufacturer TVS Motor has acquired a minority stake in US-based industrial Internet of Things (IoT) firm Altizon Inc and Altizon Systems Pvt Ltd, with an investment of over $2.5 million, in order to utilise...
Nissan to reject new integration proposal from Renault: Nikkei
Nissan Motor Co Ltd will reject a management integration proposal from French partner Renault SA and will call for an equal capital relationship, the Nikkei newspaper said on Monday, citing sources. Nissan’s...
T. Rowe Price sheds most of its Tesla stake
T. Rowe Price, once the second-largest investor in Tesla Inc after Chief Executive Officer Elon Musk, has shed most of its stake in the electric carmaker in a series of transactions over the last two quarters. Funds...
Ashok Leyland eyes partnerships in EV space in bid to pare huge R&D costs
Commercial vehicle major Ashok Leyland may look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space, a top company official said. In...
Volkswagen eyes big stake in China partner JAC, taps Goldman: sources
Volkswagen AG is exploring purchasing a big stake in its Chinese electric vehicle joint venture partner JAC Motors and has tapped Goldman Sachs as an adviser on the plan, people with direct knowledge of the matter said...
Carmakers can now take CCI to NCLT over landmark Rs 2,544-cr anti-consumer fine
In a potentially far-reaching move, the Delhi High Court today allowed car companies in India to move NCLT challenging Competition Commission of India’s Rs 2,544 crore penalty on them. The penalty pertains to a...
