Lubes maker Castrol India Limited (CIL) on Friday said it will acquire a 7.09 per cent stake in TVS Automobile Solutions’ digital subsidiary Ki Mobility Solutions with a planned investment of Rs 487.5 crore in an...
Guangzhou Automobile says any investment in Nio would not exceed $150 million
Chinese automaker Guangzhou Automobile Group Co Ltd said on Thursday it was in early talks with Tesla challenger Nio Inc about a financing proposal, but any potential investment would not exceed $150 million. The U.S...
Mitsubishi Corp to hike stake in TVS Automobile Solutions from 3% to 25%
TVS Automobile Solutions Private Limited (TASL), one of India’s leading independent aftermarket players and part of the $8.5 bn TVS group, has announced strategic partnership with Mitsubishi Corporation (MC), Japan...
China’s Guangzhou Automobile says no plan to buy Fiat Chrysler
China’s Guangzhou Automobile Group Co Ltd (601238.SS) has no plans to acquire automaker Fiat Chrysler Automobiles (FCA) NV (FCHA.MI), a company spokesperson said on Friday. “Currently, we don’t have...
Anhui Jianghuai Automobile plans joint venture with Volkswagen
Anhui Jianghuai Automobile Co Ltd * Says it signs MOU to form joint venture with Volkswagen AG Source text in Chinese: bit.ly/2crNQey Further company coverage: (Reporting by Hong Kong newsroom). Recent Articles...
Changzhou Xingyu Automotive Lighting Systems to sell 80 pct stake in automobile sale and service company at 5.3 mln yuan
Changzhou Xingyu Automotive Lighting Systems : * Says it will sell 80 percent stake in a Changzhou-based automobile sale and service company at 5.3 million yuan to individual Jiang Hong * Says it will hold 0 percent...
HopCar Merges with Spinny for Better Automobile Industry
Spinny, a Delhi based startup in the used car industry, has recently completed the merger of HopCar.in, another startup in the same industry. The merger will allow Spinny to strengthen its consumer products as well as...
Indian Automobile Sector: A Mileage Way Ahead
The automotive industry is a critical component of economic growth. The Indian auto industry is one of the largest in the world with an annual production of 23.37 million vehicles in FY 2014-15. The automobile industry...
Edelweiss Alternatives acquires IT park in Bengaluru for over Rs 1,500 cr
Edelweiss Alternatives, the alternative asset arm of the Edelweiss Group, has acquired MFAR Developers’ 1.1-million-sq-ft information technology park in Bengaluru for over Rs 1,500 crore. This is the largest and first...
M&M promoter group entity initiates sale of shares; sale will reduce promoters’ stake to 18.57% from 19.32
Mahindra & Mahindra’s promoter group entity Prudential Management and Services Pvt Ltd (PMSL) has initiated a secondary sale of shares in the company as the “family is looking for liquidity for specific...
CCI approves Minda Corporation’s proposed 8.79% stake purchase in Pricol
The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation’s proposed 8.79 per cent stake purchase in Pricol. Minda Corporation is in the business of manufacturing auto components...
Tata group considering spinoff and listing of battery business Agratas Energy Storage Solutions
Tata Group is considering a potential spinoff of its battery business, according to people familiar with the matter, as the Indian conglomerate expands its foray in the country’s renewable-energy and electric-vehicle...