Ambassador, the iconic Indian car brand that till less than a decade ago carried both the Prime Minister and the common man, is being sold to French carmaker Peugeot. The C K Birla Group-owned Hindustan MotorsBSE 10.73...
Honda, Hitachi Automotive to form EV motor joint venture
Honda Motor Co Ltd and Hitachi Ltd’s auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles (EV), joining forces to better compete in the highly specialized...
India to be part of Toyota-Suzuki Motor business partnership
India will play an important part in the business partnership announced on Monday by Toyota Motor Corporation and Suzuki Motor, a senior Toyota Kirloskar executive said. Toyota Motor Corporation and Suzuki Motor...
In a joint venture, Ashok Leyland opens new assembling facility in Dhaka
Ashok Leyland on Thursday announced the opening of its new assembly plant in Bangladesh capital Dhaka. Built over a period of 15 months, the plant is spread over an area of 37 acres. The project is a collaboration...
Suman Munjal’s Rockman Industries buys stake in Moldex Composites
Suman Kant Munjal, a reclusive member of the family that controls Delhi-based Hero Group, is seeking to create an identity independent of it. Munjal’s company Rockman Industries Ltd, a large supplier of parts to India’s...
Toyota to invest $10 billion in US over five years
Toyota Motor Corp will invest $10 billion in the United States (US) over the next five years, the same as in the previous five years, North America Chief Executive Jim Lentz said on Monday, to meet demand and upgrade...
SAIC proposed to buy GM’s Halol assets
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...
