SAIC HK – a subsidiary of China’s largest automaker Shanghai Automotive Industry Corporation (SAIC) – has proposed to acquire the assets of General Motors’ car manufacturing facility in Halol, Gujarat. The companies...
Sona Group promoters pick up Mahindra’s stake in JV for Rs 120 crore
The promoters of auto components maker Sona Group have acquired the shares held by Mahindra & Mahindra in a joint venture company for Rs 120 crore. The Sona Group and M&M formed the JV nearly 20 years ago to...
Tata AutoComp concludes acquisition of TitanX
Tata AutoComp Systems Ltd, Tata group’s auto component-making firm, has completed the acquisition of TitanX, a global engine cooling supplier, the company said in a statement on Monday. It announced the plans to buy out...
Volkswagen buys mobile-payment provider PayByPhone for parking services
Volkswagen AG bought North American parking-payment operator PayByPhone in the latest move by Europe’s biggest carmaker to expand from manufacturing into mobility services. The purchase of Vancouver-based PayByPhone...
Panasonic to invest over $256 million in Tesla’s U.S. plant for solar cells
Panasonic Corp (6752.T) will invest more than 30 billion yen ($256 million) in a New York production facility of Elon Musk’s Tesla Motors (TSLA.O) to make photovoltaic (PV) cells and modules, deepening a...
Carnation to enter private label spare parts segment
Carnation Auto, the used car sales, and service franchisee operator, established by Jagdish Khattar, former managing director of Maruti Suzuki, plans to get into private label automobile components. The number of...
Tata Sons buys additional stake worth Rs 2,430-crore in Tata Motors
Tata Sons bought five crore shares of Tata MotorsBSE 0.56 % through a bulk deal worth Rs2430 crore on Tuesday ahead of the automaker’s shareholders’ meet on December 22 to consider the removal of Cyrus...
After Mahindra, Tata Motors may invest in load aggregator start-up
Tata Motors, India’s biggest commercial vehicle manufacturer, is keen to enter the load aggregator space after the sector saw its first corporate action a year ago with the entry of Mahindra & Mahindra, the...
Ashok Leyland acquires Nissan’s stake in 3 JVs
NEW DELHI: The Hinduja Group’s flagship firm Ashok LeylandBSE 1.56 % said on Friday that it has completed the acquisition of Nissan Motor Co.’s stake in three joint-ventures between the two companies — Ashok...
KKR to buy Nissan-backed supplier Calsonic for up to $4.5 billion
U.S. buyout firm KKR & Co (KKR.N) is buying Nissan Motor-backed auto parts maker Calsonic Kansei Corp (7248.T) for up to 498.3 billion yen ($4.5 billion) in its biggest deal in Japan, seizing on a rare chance there...
Honda Cars ties up with banks to limit demonetisation impact
NEW DELHI: In order to limit the adverse impact of demonetisation on car sales, Honda Cars India has tied up with HDFC, Axis, and ICICI Bank to provide up to 100 percent loan facility to its prospective customers. The...
KMW-Nexter plans to buy Volvo’s Governmental Sales unit – Die Welt
Franco-German armored vehicles maker KMW-Nexter is planning to buy the Governmental Sales division of Swedish truck maker Volvo (VOLVb.ST), German daily Die Welt reported, not citing where it obtained the information...
