Daimler and its Chinese partner BAIC plan to invest almost $2 billion in a state-of-the-art factory in China, underlining their relationship as rival Geely makes a surprise swoop on the German carmaker. The two will...
Mitsubishi Corp considers raising stake in Mitsubishi Motors in tender offer
Trading house Mitsubishi Corp (8058.T) said on Tuesday it was considering raising its stake in Mitsubishi Motors (7211.T) via a tender offer, a deal that the Nikkei newspaper reported could be worth about $1.1 billion...
Mahindra Group to invest Rs900 crore more into electric vehicle venture
The Mahindra Group on Monday announced fresh Rs900-crore investment in electric vehicles (EVs) over the next four years, which should ramp up its first installed capacity to 5,000 units a month. “We have already...
Tonino Lamborghini SPA enters into partnership with Kinetic Group
Tonino Lamborghini SPA and Pune-based Kinetic Group have agreed to jointly produce electric golf carts in India and both companies are exploring the possibility of manufacturing small electric cars and two-wheelers in...
Bharat Forge to buy 45% stake in electric vehicle start-up Tork Motors for Rs30 crore
Auto components major Bharat Forge on Thursday said it will make a strategic investment of up to Rs30 crore to acquire 45% stake in Pune-based electric vehicle (EV) start-up Tork Motors. Tork is an electric drivetrain...
Ashok Leyland to invest Rs 1 billion in electric vehicle technology
Commercial vehicle (CV) major Ashok Leyland is planning to invest around Rs 1 billion in the electric vehicle (EV) technology over the next two-three years. The company is also planning to showcase the prototype of its...
Ford buys transport services startups Autonomic, TransLoc
Ford Motor Co on Thursday said it will buy transportation software companies Autonomic Technologies Inc and TransLoc Inc for undisclosed sums as part of a strategy to expand ride services and transport businesses. Ford...
PE-backed CarTrade to acquire Shriram Automall for Rs 1.56 billion
CarTrade, a private equity-backed firm, is set to acquire a majority stake in Shriram Automall (SAMIL), which sells used trucks, buses and other vehicles, from Shriram Transport Finance Corporation (STFC) for Rs 1.56...
TVS Motor increases stake by 5.6% in RentOnGo
Two-wheeler major TVS Motor is in a start-up acquisition mode. After acquiring a minority stake in Bengaluru-based electric two-wheeler and energy infrastructure start-up Ultraviolette Automotive Pvt Ltd in December...
Nvidia partners with Uber, Volkswagen in self-driving technology
Nvidia Corp will partner with Uber Technologies Inc and Volkswagen AG as the graphics chipmaker’s artificial intelligence platforms make further gains in the autonomous vehicle industry. The company, which already has...
China’s FAW Car buys 10 pct stake in Mobike’s new car-sharing unit
FAW Car Co Ltd said on Sunday it was taking a 10 percent stake in Chinese bicycle-sharing startup Mobike’s new car-sharing unit Mobike Chuxing Technology Co. Mobike Chuxing was set up in December with registered capital...
China’s Geely acquires Cevian’s 8.2% stake in Swedish truck maker Volvo
China’s Geely Holding, which already owns the Volvo Car Group, is buying an 8.2 percent stake in Swedish truck maker AB Volvo from activist investor Cevian Capital for around $3.3-billion. Volvo Car Group was split from...
