General Motors said it had acquired Algolion Ltd, an Israel-based software startup that helps detect problems in batteries. GM said Algolion’s software will help the Detroit automaker bring to the market a...
Vietnam’s Truong Hai considers stake sale in $5 billion automotive arm
Vietnamese conglomerate Truong Hai Group, founded by tycoon Tran Ba Duong, is considering bringing in an investor into its automobiles arm Thaco Auto in a deal that could value the unit at around $5 billion, two people...
TPG exits Landmark Cars; sells 11.25% stake for Rs 293 cr
US-based private equity major TPG Capital sold its entire 11.25 per cent stake in automobile dealership chain Landmark Cars for Rs 293 crore through an open market transaction. With this transaction, TPG has exited the...
MG Motor India plans stake sale to fuel expansion
MG Motor India, a subsidiary of China’s SAIC Motor, is looking at diluting its majority stake in the company to Indian entities to fund its expansion plans in the country over the next five years. It plans to invest Rs...
JSW Group in talks with MG Motor India, BYD India to pick up stake
Sajjan Jindal-led conglomerate JSW Group is in talks with MG Motor India to pick up stake in the automobile company, according to sources. The steel-to-sports group is also exploring purchase of stake in BYD India, they...
Merger of IT Business and Demerger of Automotive Engineering Business: The Saga of KPIT & Birlasoft
Before 2018, KPIT Technologies Limited had deep expertise in auto engineering and mobility solutions as well as a strong presence in business information technology. The equity shares of KPIT Technologies Limited were...
Aquapharm in talks to sell stake for ₹5k crore
Speciality chemicals firm Aquapharm Chemicals Pvt. Ltd is in talks with private equity (PE) investors to raise ₹5,000 crore through a stake sale, two people familiar with the development said. However, the company has...
Vietnam’s Vincom Retail in stake sale talks with strategic investors – sources
Vietnam’s largest conglomerate, Vingroup, is in discussions to sell a stake in its shopping mall arm as it seeks to bring in strategic investors, five sources told Reuters on Wednesday. Vincom Retail...
Tata Group in talks to buy iPhone maker Wistron’s India facility: Report
Tata Group is in discussions with Taipei’s Wistron Corp, one of Apple Inc’s top vendors in India, to buy its manufacturing facility in Karnataka for up to ₹5,000 crore ($612.6 million), suggested a report by...
Minda Corporation ties up with South Korea’s Daesung Eltec for ADAS technology
Auto components maker Minda Corporation said it has collaborated with South Korean firm Daesung Eltec to bring next generation advanced driver assistance system solutions to India. The two companies signed a technology...
Stellantis Jeep joint venture in China to file for bankruptcy
The venture between Stellantis and Guangzhou Automobile Group Co (GAC) producing Jeep vehicles in China will file for bankruptcy, the companies said on Monday, after a lengthy decline for the oldest foreign auto brand...
RattanIndia to buy electric motorcycle maker Revolt
RattanIndia Enterprises Ltd said it was buying the stake it did not already own in electric motorcycle maker Revolt Motors, at a time when eco-conscious consumers are turning to alternatives to conventional vehicles...