A class action lawsuit by Tesla Inc (TSLA.O) shareholders against the electric car maker’s chief executive, Elon Musk, and the company’s board over the SolarCity deal was set to proceed after a Delaware judge refused to...
Kia Motors may bid for electric car tenders after it Andhra plant is operational
Kia Motors India Pvt. Ltd, a unit of Hyundai Motor Corp. of South Korea, is likely to participate in bids to supply electric vehicles (EVs) to the government once its manufacturing unit is commissioned in the Anantapur...
Hero MotoCorp hikes stake in Colombian JV to 68%
The country’s largest two-wheeler maker Hero MotoCorp on Thursday said it has increased stake in its Colombian joint venture to 68 percent. HMCL Netherlands BV, a wholly owned subsidiary of Hero MotoCorp, had...
Majority of French back selling state assets in Renault, Orange, PSA: poll
A majority of French voters back selling all or some of the state’s assets in automakers Renault and Peugeot, airliner Air France and telecoms group Orange, an opinion poll showed on Monday. France announced last year...
Govt invites EoI for strategic stake sale in Scooters India
The government has invited expression of interest (EoI) to sell its entire stake with transfer of management control in loss-making listed firm Scooters India Ltd (SIL), which manufactures three-wheelers under the brand...
Eicher Motors ends JV with US partner Polaris Industries
Eicher Motors Ltd on Monday announced its decision to shut its joint venture (JV) Eicher Polaris Pvt. Ltd (EPPL) with US-based Polaris Industries Inc. as sales of its personal utility vehicle Multix dropped to...
Toyota affiliate Denso buying stake worth $800 million in chipmaker Renesas
Japanese auto parts supplier Denso Corp (6902.T) is buying an additional 4.5 percent stake in chipmaker Renesas Electronics (6723.T) in a deal worth $800 million based on market prices, as car makers accelerate the...
Nissan in talks to buy France’s Renault stake in merger prelude
Renault (RENA.PA) and alliance partner Nissan (7201.T) are discussing plans for a closer tie-up in which the Japanese carmaker would acquire the bulk of the French state’s 15 percent Renault holding, people close to the...
Daimler, Volvo Cars executives skeptical over Geely alliance plan
Executives at Daimler (DAIGn.DE) and Volvo Cars question the viability and industrial logic of a plan by their major shareholder, China’s Geely, to form an auto industry alliance to counter “tech invaders.” Li revealed...
VW to pursue IPO plan for trucks division: Handelsblatt
Volkswagen (VOWG_p.DE) intends to change the legal structure of its trucks business this month as a first step towards an initial public offering (IPO) of the division, German paper Handelsblatt reported. Changing...
Hyundai to invest in battery electric, fuel cell vehicles
Korean auto major Hyundai Motor Company (HMC) is investing in developing both battery electric (BEV) and fuel cell vehicles (FCV) to meet more stringent emission standards, which are expected to be implemented in the...
China’s Geely raid on Daimler reignites German know-how fears
Automaker Geely’s purchase of a $9 billion stake in Mercedes maker Daimler rekindled fears in Germany on Monday of its highly-prized expertise falling into Chinese hands. Economy minister Brigitte Zypries stuck to...
