Volkswagen Finance India on Monday said that it has acquired a majority stake in automotive fintech company KUWY Technology for an undisclosed amount to leverage the latter’s network to grow its new and used car...
Infosys and Daimler announces partnership for IT infrastructure transformation in the automotive sector
Daimler and Infosys today announced a long-term strategic partnership for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating...
Wipro Infrastructure to acquire industrial automation firm PARI
Wipro Infrastructure Engineering said on Thursday it has signed a definitive agreement to acquire Precision Automation and Robotics India (PARI). Financial details of the deal were not disclosed. “The combined...
L&T sells UK marine tech arm Servowatch Systems to Rolls-Royce
Engineering major Larsen & Toubro has signed a pact to sell its UK-based integrated marine automation solutions unit Servowatch Systems to Rolls-Royce, the two companies announced on Wednesday. The divestment is a...
MSSL signs strategic agreement to acquire Bombardier’s Electrical Wiring Interconnection Systems business
Auto component major Motherson Sumi Systems Limited (MSSL), via its Mexican subsidiary, Motherson Rolling Stocks S. de R.L. de C.V. (MRS), Tuesday said it has signed an asset sale and purchase agreement to acquire the...
Toyota Kirloskar ties up with Myles to expand car subscription service
Toyota Kirloskar Motor (TKM) on Thursday said it has joined hands with Myles Automotive Technologies to expand its car subscription service for individual customers in Delhi NCR, Mumbai, and Bengaluru. Along with the...
Auto-parts maker Garrett files for bankruptcy
U.S. auto-parts maker Garrett Motion Inc said on Sunday it had filed for Chapter 11 bankruptcy protection, as it struggles with heavy debt due to a payment settlement dispute with former parent Honeywell International...
EV components maker Entuple e-mobility to raise $3.5 million of equity capital
Bangalore-based electric vehicle (EV) components maker Entuple E-mobility is in talks with several investors to raise $3-3.5 million (Rs 22-25 crore) of equity capital to fund further growth. The capital will be used to...
Wait for Amtek Auto resolution may get longer over mortgaged property
The three-year CIRP (corporate insolvency resolution process) for Amtek Auto is likely to get delayed further over mortgaged property. Resolution applicant Deccan Value Investors (DVI) has moved the National Company Law...
Mortgage lenders of Amtek subsidiary approaches NCLT to protect their rights
Plans to revive Amtek Auto stumbled again as KKR India Financial Services, through Vistra ITCL, approached the dedicated bankruptcy court requesting the tribunal to ensure their rights with regards to secured property...
Mexico’s Alfa to spin off rest of Nemak stake, shares surge
Mexico’s Alfa said on Friday it plans to spin off the entirety of its remaining 75% stake in auto parts business Nemak, sending Alfa’s shares surging 17% on the prospect that the conglomerate could shrug off the...
EV charging infrastructure firm EVI Technologies, RevFin tie up for EV financing
Electric vehicle charging infrastructure firm EVI Technologies on Monday said it has partnered with digital lending startup RevFin and electric three-wheeler makers Saarthi and Mayuri, to provide funding for EVs and...
