Auto component maker Sona Comstar on Thursday said it has joined hands with Israel’s IRP Nexus Group (IRP) to initiate a project to co-develop a new electric motor that would avoid usage of rare earth elements...
Minda Industries forays in Uzbekistan, to buy 51% stake in UZ Chasys
Auto components maker Minda Industries on Tuesday said it will acquire 51 per cent stake in Uzbekistan-based automotive lighting manufacture UZ Chasys for around ₹58 crore. The company has won the bid to acquire a 51...
Motherson Group’s rejig gets CCI nod
Competition Commission of India (CCI) said on Thursday that an internal restructure of Motherson Group has been granted deemed approval. The competition watchdog said in a statement that it has received a notice from...
Minda Industries board approves acquisition of 27.55% stake in CSE Dakshina
Minda Industries on Saturday said its board has approved acquisition of 27.55 per cent stake in CSE Dakshina Solar Pvt Ltd for Rs 27 lakh. “The board approved the acquisition of 33,750 equity shares of CSE Dakshina...
GM-Backed Wejo Is in SPAC Merger Talks With Virtuoso
Wejo Ltd., the British automotive-data startup backed by General Motors Co., is in talks to go public through a merger with Virtuoso Acquisition Corp., a blank-check firm, people with knowledge of the matter said...
Motherson Group completes acquisition of majority stake in Turkey’s Plast Met Group
Auto components major Motherson Group on Friday said it has completed the acquisition of majority stake in Turkey’s Plast Met Group, a key supplier of plastic moulded parts, related sub-assemblies and injection...
Continental invests in object recognition start-up
German automotive parts maker Continental AG said on Tuesday it had acquired a minority stake in German-U.S. start-up Recogni, as it deepens its expertise in autonomous driving technology. The start-up is working on a...
Talbros Automotive sells defunct Chennai plant to raise Rs 21 crore
Auto-components maker Talbros Automotive on Thursday said it has raised Rs 21 crore by selling the land and building of its defunct plant in Chennai and these funds will be utilised to reduce debt and strengthen the...
Rolls-Royce disposal plan banks 150 million euros from Bergen Engines sale
Britain’s Rolls-Royce agreed to sell its Bergen Engines unit to Russia-based TMH Group for net proceeds of 150 million euros ($180 million), making initial progress with a disposal plan aimed at helping it survive the...
Israeli EV startup REE to go public through $3.60 billion blank-check deal
Electric vehicle technology startup REE Automotive has agreed to go public through a merger with a blank-check company, in a deal that values the Israeli firm at around $3.60 billion, the companies said on Wednesday...
After Plast Met, Motherson Sumi looking at other acquisitions
A lot of other acquisitions are being looked into by Motherson and we believe that when the timing is right and the price is right, we will go for it, says Vivek Chaand Sehgal, Chairman, Motherson Sumi. I have been...
Motherson Sumi enters Turkey market through acquisition of Plas Met Group
Motherson Sumi Systems Ltd, one of the country’s biggest automotive component manufacturers, on Monday announced acquisition of 75% stake in two Turkish automotive parts manufacturing companies, Plast Met Plastik Metal...
