The Chinese arm of French insurance player AXA has evinced interest in buying a 51% stake in heavy commercial vehicles manufacturer AMW Motors, three senior bankers told FE, adding that they are in advanced stages of...
Audi, SAIC Motor sign deal to weigh jointly making Audi cars in China: source
Audi AG (NSUG.DE) and China’s SAIC Motor Corp (600104.SS) have signed an agreement that will likely pave the way for the German luxury car maker to produce cars in China with SAIC, a person familiar with the matter told...
Tesla buys Germany’s Grohmann Engineering to help ramp up electric car production
Electric carmaker Tesla Motors Inc (TSLA.O) has agreed to buy Germany’s Grohmann Engineering GmbH, which develops automated manufacturing systems for batteries and fuel cells, as the California-based company seeks...
American Axle’s $1.6 billion Metaldyne buy to help grow beyond GM
American Axle & Manufacturing Holdings Inc (AXL.N) has agreed to buy Metaldyne Performance Group Inc (MPG.N) for about $1.6 billion, the companies said on Thursday, in a cash-and-stock deal that would lower the U.S...
CCI clears Ashok Leyland’s deal to buy Nissan stake in three JVs
NEW DELHI: Leading vehicles maker Ashok Leyland has received fair trade regulator CCI’s approval to buy out its Japanese partner Nissan Motors’ stake in three joint ventures. It was announced in September...
Japan’s Nissan to sell parts maker Calsonic Kansei to KKR – Nikkei
Nissan Motor Co has decided to sell its entire stake in Japanese auto parts maker Calsonic Kansei Corp to U.S. private equity firm KKR &Co as part of a $3.8 billion takeover, the Nikkei daily reported, without...
Hero MotoCorp invests Rs205 crore for up to 30% stake in Ather Energy
New Delhi: New Delhi-based two-wheeler maker Hero MotoCorp Ltd on Thursday said that its board has approved an investment of up to Rs.205 crore for about 26-30% shareholding in Bangalore-based tech start-up Ather Energy...
Toyota partners with Uber, provides 90% financing to new drivers
Toyota Kirloskar Motor on Wednesday announced a partnership with ride-hailing app Uber, giving 90 percent funding to a driver on the Uber platform to buy Etios and Liva models. Toyota’s Financial arm, Toyota...
Mahindra acquires 60% in Classic Legends
Mahindra & Mahindra, the market leader in the utility vehicle and tractors, on Wednesday, said that it will buy 60 percent stake in Classic Legends (CLPL), a company engaged in manufacturing and marketing two...
Ssangyong to ink JV with Shaanxi Auto
MUMBAI: Mahindra & Mahindra owned South Korean SUV specialist Ssangyong Motor has signed a letter of intent to form a 50:50 joint venture with Shaanxi Automobile Group of China to set up a 1.5 lakh unit plant in...
Global tie-up on technology between Toyota, Suzuki to leave rivalry in India unaffected
MUMBAI|NEW DELHI: The technology partnership that Suzuki Motor and Toyota Motor said they were exploring is unlikely to bring any changes to the way the two automakers are doing business in India, local executives said...
Tesla, SolarCity shareholders vote on November 17 for merger
Tesla Motors Inc and SolarCity Corp said Wednesday in a U.S. securities filing that a vote to merge the two California-based companies will take place on Nov. 17. Also on Wednesday, Tesla said in a company blog:...
