Camso is a premium brand in construction equipment tyre and tracks with strong equity and market position in EU and North American aftermarket and OE segments. The acquisition will give CEAT access to 40 global OEMs and broaden its product offering into construction tyres and bias tracks. It’s an all cash deal valued at $225 … Read more
Bajaj Auto has become the top player in India’s electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company – according to … Read more
Stellantis, an automotive colossus that owns more than a dozen brands including Chrysler, Fiat, Jeep, Peugeot, and Ram, is facing challenges at seemingly every turn. The company’s sales and profit have been plummeting. Dealers stuck with parking lots filled with unsold cars are publicly criticising Stellantis and its chief executive in unusually harsh terms. Stellantis’s … Read more
Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. Â The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more
The country’s largest electric car maker Tata Motors has started working with used car marketplaces to facilitate resale and exchange for electric vehicle (EV) owners. A company spokesperson told Business Standard, “We have been working on opportunities for facilitating EV resale / exchange for those owners who are looking to upgrade to a new … Read more
Battery materials manufacturer Epsilon Advanced Materials is planning to set up a Rs 9,000-crore anode plant in Karnataka with an annual production capacity of 90,000 tonne, a top official of the company said. The investment in the plant would be made in two phases. In the first phase, Rs 4,000 crore would be invested and … Read more
In a bid to mitigate the alarming build-up of unsold passenger vehicle (PV) inventory, the Federation of Automobile Dealers Associations (Fada) is set to formally approach banks and non-banking financial companies (NBFCs) with requests to exercise caution when disbursing funds to dealers. This comes after the dealers’ body wrote twice to the Society of Indian … Read more
India’s Reliance Infrastructure is considering plans to manufacture electric cars and batteries, and has hired the former India head at China’s BYD Co to advise on its plans, two sources briefed on the matter told Reuters. The company, part of Anil Ambani’s Reliance Group, has hired external consultants to conduct a “cost feasibility” study for … Read more