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...
Volvo owner buys flying-car maker planning first model for 2019
Rather than just put more vehicles on the world’s congested roadways, Volvo Cars owner Zhejiang Geely Holding Group Co. is looking to the skies. The Chinese automaker has acquired a US company trying to bring a flying...
Hero MotorCorp invests Rs 20 cr in two-sheeler start-up Ather Energy
Hero MotorCorp has invested an additional Rs 20 crore in Ather Energy, the smart electric two-wheeler start-up, as part of the company’s total commitment of Rs 205 crore for 26-30 percent of the stake in the...
Volvo abandons plan to sell Governmental Sales unit
Trucks and construction equipment maker Volvo (VOLVb.ST) said on Tuesday it had decided to end a sales process for its Governmental Sales business due to insufficient offers. The Gothenburg-based firm, announced its...
Mahindra & Mahindra to invest up to Rs 4,000 crore to boost electric vehicle business
Having lost out the prestigious government electric vehicle order to Tata Motors, Mahindra & Mahindra, India’s leading electric vehicle maker is not perturbed and has set its eye on bigger things in the future. The...
Fiat Chrysler CEO says spin-off his preferred option for Magneti Marelli
A spin-off is the option favoured by Fiat Chrysler (FCA) Chief Executive Sergio Marchionne to unlock value from components maker Magneti Marelli, he said on Monday. Marchionne said in July that FCA was working on a plan...
Toyota, Mazda, Denso to set up electric vehicle joint venture, say sources
Toyota Motor Corp, Mazda Motor Corp and parts maker Denso Corp are planning to set up a joint venture to develop electric vehicles, sources familiar with the matter said. Toyota, Japan’s biggest automaker, agreed...
