Chinese state-owned carmaker FAW Group held talks to acquire Italian truck group Iveco earlier this year but these have now been put on hold, two people close to the matter said. FAW made a preliminary offer in July, valuing Iveco at a bit more than 3 billion euros ($3.5 billion), one of the sources said. The source said… Continue reading Chinese FAW Group’s talks to acquire Italian truck major Iveco now on hold
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Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Chinese smart vehicle supplier Shanghai PATEO Electronic Equipment Manufacturing Co is in talks with 22 potential investors to raise 1 billion yuan ($147 million) before its listing on the STAR market, a company spokesman told Reuters. The Shanghai-based company raised 700 million yuan in its latest funding round in April at a 4.6 billion yuan valuation. Its… Continue reading Chinese smart car supplier PATEO in talks to raise $147m ahead of STAR listing
Volta Trucks gets first customer for its Zero electric truck
Less than a month after the launch of the new Volta Zero, the first purpose-built full-electric large commercial vehicle, Volta Trucks has confirmed that it has taken the first orders for the vehicle that will start production in 2022. Drinks Cubed, the London-based sustainable drinks brand, have signed a multi-million-pound deal for the supply of… Continue reading Volta Trucks gets first customer for its Zero electric truck
e-Trio raises $3 million in Series A funding to utilise fund for new product development
Hyderabad-based electric vehicle manufacturer and retrofit kit solution company e-Trio has raised $3 million (Rs 22 crore) in Series A round from HNI investors based out of Singapore. The group of investors is led by serial investor, Janardhan Rao, founder of Triumph Global Group, a Singapore head-quartered international commodity trading house with a consolidated revenue… Continue reading e-Trio raises $3 million in Series A funding to utilise fund for new product development
Luxury Ride targets 50 new showrooms in India by 2023
New Delhi-headquartered pre-owned, multi-brand luxury car showroom chain Luxury Ride has announced its plans to expand its network across-India. The company is targeting to open 50 new showrooms in India by 2023 and expand its footprints in Tier 2-3 cities. The multi-brand showroom company says it will open showrooms in Ludhiana, and Gurgaon by the… Continue reading Luxury Ride targets 50 new showrooms in India by 2023
Groupe PSA enters Indian aftermarket industry with Eurorepar
French major Groupe PSA is the latest entrant in the Indian aftermarket industry with the launch of its Eurorepar range of multi-brand, high-quality aftermarket products in India. The Eurorepar business is present in over 100 countries, but India is the first market where its entry precedes the launch of Groupe PSA’s first vehicle in India.… Continue reading Groupe PSA enters Indian aftermarket industry with Eurorepar
Maruti Suzuki India selects 5 new startups under innovation programme, total 14 startups selected till date
Maruti Suzuki India, the country’s largest carmaker has shortlisted five new startups as part of the 3rd cohort of the MAIL (Mobility & Automobile Innovation Lab) programme. The MAIL programme was incepted with an objective to promote innovation in the mobility space. With addition of these five startups – Clean Slate, Peer Robotics, Vicara, Hyper… Continue reading Maruti Suzuki India selects 5 new startups under innovation programme, total 14 startups selected till date
Jaguar Land Rover to use plastic waste for sustainable interiors
Jaguar Land Rover is working with Econyl nylon brand to develop sustainable interiors made from ocean and landfill waste as part of their Destination Zero mission, with innovation helping to make environments safer and cleaner. The next-generation Jaguar and Land Rover models will feature floor mats and trims made with Econyl fibre from recycled industrial… Continue reading Jaguar Land Rover to use plastic waste for sustainable interiors
Nissan employee testifies against American on trial in Japan
Disclosing annual executive pay over 100 million yen (about USD 1 million) became a requirement in Japan from 2010. Ghosn had been getting about 10 times that. Tokyo: A Nissan employee testified Tuesday that he worked with another former Nissan executive, American Greg Kelly to find ways to pay the automaker’s former chairman, Carlos Ghosn… Continue reading Nissan employee testifies against American on trial in Japan
LG Chem Looking to Increase Production Amount of Cathode Materials for NCMA Batteries
LG Chem is looking to increase production amount of cathode materials for its NCMA (Nickel, Cobalt, Manganese, Aluminum) batteries in order to secure competitive edge in production cost and to quickly respond to demands from its customers. It is expected that LG Chem will be able to prepare a foundation for the Advanced Materials Company,… Continue reading LG Chem Looking to Increase Production Amount of Cathode Materials for NCMA Batteries