Motherson Sumi Systems Ltd – India’s largest automotive component manufacturer – on Tuesday announced a new corporate structure, wherein the domestic wiring harness business will be demerged into a separate entity...
Global PE firms eye India’s auto components sector
Top private equity (PE) firms such as Temasek, Blackstone, Goldman Sachs, Samara Capital and Baring Private Equity Asia are actively exploring investment opportunities in India’s auto parts manufacturing sector, three...
Tata AutoComp partners Tellus Power Green on EV infrastructure
Tier-one supplier Tata AutoComp Systems Ltd has signed a memorandum of understanding with US-based electric vehicle (EV) charging infrastructure company Tellus Power Green to set up AC and DC fast charging network in...
ZF Friedrichshafen issues draft offer to acquire 25% shares in Wabco India
German company ZF Friedrichshafen AG along with related firms, has issued a draft offer letter for the open offer to acquire a 25 per cent stake in auto component maker Wabco India, by acquiring 4.74 million equity...
Minda Corporation’s German subsidiary filed for insolvency in Germany
Auto component maker Minda Corporation Tuesday said its German subsidiary Minda KTSN Plastic Solutions GmbH & Co. KG (MKTSN) has filed for insolvency in Germany. Minda Corporation’s Board of Directors held a meeting...
Euler Motors raises ₹20 crore as part of Series A funding
Euler Motors, the automotive technology start-up focused on commercial Electric Vehicles (EVs) said that it has raised INR 20 crore as a part of its ongoing Series A funding led by Inventus Capital India. The other...
Motherson Sumi Systems to raise ₹500 cr by issuing NCDs
In a meeting held earlier today, the board of directors at Motherson Sumi Systems Ltd (MSSL) has approved the issuance of listed, secured, redeemable, non-convertible debentures (NCDs) with an aggregate amount up to...
Motherson Sumi Systems to raise up to ₹1,000 crore to secure liquidity
Motherson Sumi Systems Ltd (MSSL), a leading auto components supplier, said that its board of directors has given an approval to raise up to ₹1,000 crore to secure liquidity while dealing with the global coronavirus...
EU antitrust regulators pause Hyundai, Daewoo deal probe
EU antitrust regulators have halted their investigation into world No. 1 shipbuilding group Hyundai Heavy Industries’ $1.8 billion merger with Daewoo while waiting for the companies to provide information. The European...
Italian brake maker Brembo treads new path with Pirelli stake
Italy’s Brembo, which make brakes for Ferrari, Tesla, BMW and Mercedes as well as several Formula 1 teams, has taken a small “long-term” stake in tire maker Pirelli. Brembo said on Tuesday it had decided to buy the 2...
Delphi tapping credit line puts sale to BorgWarner at risk
U.S. auto parts company BorgWarner Inc threatened to walk away from a $951 million deal to buy Delphi Technologies on Tuesday, after the automotive equipment supplier drew down on a credit line without its acquirer’s...
Motherson Sumi Systems to demerge domestic wiring harness unit
Motherson Sumi Systems Ltd (MSSL) plans to demerge its domestic wiring harness business into a newly formed legal entity with mirror shareholding, which shall be listed, the company said in a stock exchange filing on...
