Former Maruti SuzukiBSE 0.01 % MD Jagdish Khattar- promoted multi-brand car service company Carnation Auto is facing bankruptcy. A corporate insolvency resolution process has been initiated against the company by its...
Daimler buys majority stake in French car-ride app Chauffeur Prive
German carmaker Daimler has agreed to buy a majority stake in Chauffeur Prive, a French rival to the larger Uber car-ride app, in the latest example of traditional companies looking to deal with challenges from...
Italian fund denies seeking to raise stake in Aston Martin
Italy’s Investindustrial is not in talks to increase its stake in Aston Martin and no decision has been taken on a possible stock market listing for the British carmaker, the private equity group said, denying an...
TVS buys 14.8% stake in electric two-wheeler firm Ultraviolette for Rs 5 cr
TVS Motor has acquired a minority stake in Bengaluru-based electric two-wheeler and energy infrastructure start-up Ultraviolette Automotive. The company will acquire 14.78 percent stake, or 6,750 equity shares of Rs 10...
PSA Group and Nidec enter into JV to set up electric motor venture
Peugeot maker PSA Group and Japan’s Nidec Corp will invest 200 million euros ($237 million) in a joint venture to develop and produce electric car motors for a fast expanding market, the companies said on Monday...
Fiat Chrysler, Hyundai discuss technical partnership; no talks of merger
Fiat Chrysler Automobiles is in talks with South Korea’s Hyundai about a technical partnership, but there are no merger talks between the two, FCA Chief Executive Sergio Marchionne said on Saturday. FCA is often...
Volkswagen in talks to buy stake in Russia’s GAZ – sources
German carmaker Volkswagen (VOWG_p.DE) is in talks to buy a stake in GAZ (GAZA.MM), a Russian manufacturer of light commercial vehicles (LCV), five sources familiar with the talks told Reuters. It was not immediately...
Daimler turns down Geely offer to buy stake
Daimler AG has turned down an offer from China’s Geely to take a stake of up to 5 percent via a discounted share placement, as the German automaker has long been reluctant to see existing shareholdings diluted, sources...
Ashok Leyland, Hino Motors to renew partnership for Euro-VI engines
Ashok Leyland has entered into an agreement with its long-standing Japanese partner Hino to utilise Hino’s engine technology for Ashok Leyland’s Euro-VI development. Hino and Ashok Leyland have had a co...
Tata Motors ties up with Jayem Auto to launch electric car Neo
The Tata Nano is soon to be launched in an electric avatar sporting a new label Neo. Some see this is as the first move towards phasing out the brand Nano, which has failed to excite the Indian car buyer nearly a decade...
Lotte, Peugeot may invest $6 billion in India
South Korea’s Lotte Group and French carmaker PSA Group have separately discussed proposals to invest as much as $6 billion combined in India, a move that would boost Prime Minister Narendra Modi’s attempts to attract...
Ashok Leyland to buy 4.68% stake in truck financing subsidiary, Hinduja Leyland Finance
Hinduja group’s flagship company Ashok Leyland Ltd is acquiring a 4.68% stake in its commercial vehicle financing subsidiary Hinduja Leyland Finance Ltd (HLF) from private equity firm Everstone Group, the company said...
