In one of the largest foreign investment deals in India’s auto parts industry, Fontana Gruppo is buying a majority in Nashik-based Right Tight Fasteners (RTF) that will give the Italian company a bigger presence in the...
Asbury Automotive to buy Herb Chambers’ dealerships in $1.34 billion deal
Auto retailer Asbury Automotive Group said on Tuesday it would acquire automotive dealerships owned by Herb Chambers Companies in a deal valued at $1.34 billion. Asbury plans to fund the acquisition using a combination...
ZF considering spin-off of electric drive division, Handelsblatt reports
German automotive supplier ZDF (ZFF.UL) is considering a spin-off of its electric drive train division, the Handelsblatt business news outlet reported on Tuesday, citing company sources. ZF said it was “examining...
Volkswagen takes 9.9% stake in lithium developer Patriot Battery Metals for C$69 mln
Patriot Battery Metals said on Wednesday automotive giant Volkswagen has invested approximately C$69 million ($48.18 million) for a 9.9% stake in the Canadian lithium developer. The German automaker paid C$4.42 per...
In major Geely shake-up, EV brand Zeekr to take control of Lynk
China’s Geely said on Thursday its premium electric vehicle maker Zeekr plans to take control of Lynk & Co, a sister brand – the first big restructuring move in a planned overhaul for the sprawling...
Leoni to submit China stake sale to German government
Automotive supplier Leoni is preparing to register the sale of a majority stake to Chinese company Luxshare with the German government, a company spokesperson said on Thursday in what it called a routine step...
China’s BYD acquires 20% stake in Thai dealer Rever Automotive
China’s BYD, will acquire a 20% stake in its local distributor Rever Automotive in Thailand, its largest market outside of China where it is an electric vehicle market leader, the companies said Saturday. The...
TVS Mobility arm acquires Italy-based automotive components supplier
TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the...
Auto distributor Inchcape to sell UK retail business for $431 mln
British automotive distributor Inchcape said it had agreed to sell its UK retail operations to Group 1 Automotive UK for 346 million pounds ($431.43 million) in cash, following a strategic review it kicked off earlier...
Stellantis buys Brazil’s DPaschoal in another components push in Latam
Stellantis said it is buying a 70% controlling stake in Brazilian automotive services firm DPaschoal, in the automaker’s latest move to expand its presence in Latin America. Stellantis did not provide details of...
Minda Corp exits Pricol with 15% stake sale, rakes in Rs 260 crore profit
After almost a year of investing in Pricol Ltd, Minda Corporation exited the automotive component maker by selling its entire 15.7% stake through the open market. Minda Corp sold 1,91,22,458 shares of Pricol at an...
Germany’s Stabilus to buy Dover’s business unit for $680 million
Industrial and automotive supplier Stabilus SE will acquire a business unit of US manufacturer Dover Corp in a deal with an enterprise value of $680 million, the companies said in separate statements on Wednesday. The...
