General Motors said it had acquired Algolion Ltd, an Israel-based software startup that helps detect problems in batteries. GM said Algolion’s software will help the Detroit automaker bring to the market a...
Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm
Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people...
Lordstown Motors files for bankruptcy, sues Foxconn
U.S. electric truck manufacturer Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan’s Foxconn. Shares...
TPG exits Landmark Cars; sells 11.25% stake for Rs 293 cr
US-based private equity major TPG Capital sold its entire 11.25 per cent stake in automobile dealership chain Landmark Cars for Rs 293 crore through an open market transaction. With this transaction, TPG has exited the...
Lordstown Motors founder sells remaining stake in EV startup
Lordstown Motors founder and former CEO Stephen Burns has sold his entire stake in the electric-vehicle maker, according to a regulatory filing. The company in May implemented a reverse stock split to comply with...
Avtovaz completes deal to buy Renault-Nissan’s Russian finance business
Russian carmaker Avtovaz has completed the acquisition of RN Bank, a joint venture between Italian lender UniCredit and the Renault-Nissan-Mitsubishi Alliance, the company said on Wednesday. President Vladimir...
Global Auto Holdings to buy car dealership chain Lookers for $595 million
Global Auto Holdings will buy British car dealership chain Lookers for about 465.4 million pounds ($595 million) in cash, the companies said on Tuesday. Global Auto Holdings values Lookers at 120 pence per share, a...
JBM Auto leading contender to acquire controlling stake in SML Isuzu: Report
Auto components and equipment maker, JBM Auto is the leading contender to acquire a controlling stake in automaker SML Isuzu, according to media reports. SML Isuzu’s Japanese promoters are looking to exit the...
Samvardhana Motherson arm to buy Cirma SAS for Rs 7.2 million
Auto components maker Samvardhana Motherson International Ltd on Thursday said its arm Samvardhana Motherson Automotive Systems Group BV will fully acquire French entity Cirma Entreprise SAS at an enterprise value of 7...
Sajjan Jindal likely to acquire up to 48% in MG Motor India, make it an Indian company
A private company owned by Sajjan Jindal, chairman of JSW Group, aims to buy into MG Motor India, a wholly owned arm of Shanghai-headquartered SAIC Motor, said people with knowledge of the matter. The group’s...
Russia approves sale of Volkswagen assets for about $140 mln
Russia’s government has approved a deal for Volkswagen to sell its Russian assets to auto dealer group Avilon for up to 125 million euros ($137.6 million), the Interfax news agency reported on Tuesday, citing a...
China’s SAIC Motor plans to sell its stake in MG Motor to domestic entities
China’s SAIC Motor will be taking a step back as it plans to dilute its stake in MG Motor India in the next few years, reported Times of India. China’s automotive giant holds a majority stake in the Indian...
