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...
Ford expands partnership talks with Volkswagen and Mahindra to cut costs
With its stock trading near a 6-year low late last month, Ford Motor Co CEO Jim Hackett gathered the automaker’s top 300 executives near its headquarters in Michigan for a global leadership meeting. Hackett’s message:...
Volkswagen’s truck unit says no final decision taken on IPO
Volkswagen (VOWG_p.DE) sought to dampen expectations on Tuesday that it would soon list its truck unit Traton on the stock market, saying no final decision had been taken. Volkswagen has taken steps to prepare Traton...
Daimler buys 20 percent stake in Volkswagen’s Heycar used-car platform
Germany’s Daimler is buying a 20 percent stake in Heycar, a used-car portal launched last year by its rival Volkswagen, VW said on Thursday. Daimler is acquiring the shares through a capital increase at Mobility Trader...
Suzuki exits China after dissolving tie-up with Changan
Suzuki Motor Corp. is pulling out of China after dissolving its last remaining auto-making partnership in the world’s biggest car market. Suzuki agreed to transfer the 50% stake it holds in Changan Suzuki to Chongqing...
Mahindra in talks with Ford to collaborate for the market of Indonesia, Russia and South Africa
As part of its wide-ranging partnership discussion with US car maker Ford, Mahindra & Mahindra has started exploring potential of getting into markets of Indonesia, Russia and penetrate deeper into the South African...
Elon Musk hires Morgan Stanley to help take Tesla private
Elon Musk has hired Morgan Stanley to assist him in his potential bid to take Tesla Inc. private, according to a person familiar with the matter. Musk, 47, shocked the financial world 7 August when the chief executive...
