Two decades since the last Premier Padmini rolled off its factory, the maker of the iconic sedan is staring at the end of the road. After decades of dominating India’s roads, along with Hindustan Motors Ltd’s...
Hero Electric raises Rs 160 crore from Alpha Capital Advisors
Hero Electric Tuesday said it has raised Rs 160 crore from investment management firm Alpha Capital Advisors to fund its future expansion. With this investment, the Mumbai-based firm has become a “significant...
Escorts forms JV with Japan co for tractors
Escorts has formed a joint venture (JV) with Japan’s Kubota Corporation to produce high end tractors for domestic as well as overseas markets, the engineering and farm equipment maker announced on Monday. The JV —...
Tesla may consider buying idle General Motors plants: Elon Musk
Tesla Inc. Chief Executive Officer Elon Musk told CBS’s “60 Minutes” that he may be willing to buy some of the five factories General Motors Co. will idle next year, making him the second rival in two days to step up...
China’s BAIC sinks on report Daimler may raise stake in joint venture
BAIC Motor Corp’s (1958.HK) shares slumped 13.5 percent on Wednesday after Bloomberg reported that Germany’s Daimler AG (DAIGn.DE) is considering increasing its stake in its joint venture with the Chinese company. An...
Mahindra First Choice acquires Carnation brand
In the first major move towards consolidation in the $7-billion Indian automotive aftermarket space, the country’s largest organised vehicle service company Mahindra First Choice Services has acquired branding...
Flipkart’s Sachin Bansal may invest upto $100 million in Ather Energy
Sachin Bansal, Flipkart’s co-founder who minted close to a billion dollars after Walmart’s takeover of the e-commerce firm, is considering several large bets on start-ups. As per a report, Bansal is in talks...
Fiat Chrysler agrees to sell Magneti Marelli to Calsonic Kansei – sources
Fiat Chrysler (FCA) has agreed to sell its Magneti Marelli unit to KKR’s Calsonic Kansei, two sources familiar with the matter said on Sunday, adding the deal would be announced on Monday. The sale is the first big...
Tata Sons shores up stake in Tata Motors to 34.2% as UK biz faces headwinds
Tata Sons has increased its stake in Tata Motors at a time when its market capitalisation is eroding and valuations dipping amid uncertainties facing Jaguar Land Rover (JLR), its UK subsidiary. At the end of the quarter...
Ford prepares to cut salaried jobs in $11 billion restructuring
Ford Motor Co. has told its 70,000 salaried employees that they will face unspecified job cuts as part of the automaker’s $11 billion restructuring, a bid to reverse its fading fortunes and cope with competitive...
Toyota, SoftBank to partner in future car technologies
Toyota Motor Corp and SoftBank Group Corp said they would team up to develop new transport services, adding to a slew of deals aimed at sharing costs and securing expertise in technologies which promise to drastically...
Honda to invest $2.75 billion in GM’s self-driving car unit
Honda Motor Co Ltd (7267.T) will invest $2.75 billion and take a 5.7 percent stake in General Motors Co’s (GM.N) Cruise self-driving vehicle unit, to jointly develop autonomous vehicles for deployment in ride services...
