Menu
Filters
Your Selections
    [clear all]
    Asset
    Published
    Service
    Topical Categories
    Supplier
    OEM
    Region / Country/Territory
    IHS Markit launches 2021 OEM-Supplier Relations (SuRe) survey
    The automotive industry’s global survey of OEM-supplier relations has returned, giving tier-one suppliers the opportunity to express their views and opinions on their relationship with every major OEM from today (April 12). IHS Markit's unique SuRe (Supplier Relations) Index scores and ranks OE...
    12-Apr-2021 News OEM Purchasing Pinned
    Android’s grip tightens on automotive OS
    Android Automotive has taken the automotive headunit by storm. From its initial introduction in early 2017 until now, six global automakers across more than 10 brands have signed on, accounting for nearly one-fifth of all vehicles once fully rolled out. The significance of Android Automotive lies wi...
    ACQUISITION: PPG announces acquisition of automotive coatings manufacturer, Cetelon Lackfabrik
    PPG announced that it has acquired coatings manufacturer, Cetelon Lackfabrik, without disclosing the financial details of the transaction, according to a company press release on 19 April. Significance: Cetelon Lackfabrik manufactures automotive wheel coatings apart from coatings for light truck ...
    Acquisition: Aludyne acquires Shiloh Industries’ CastLight division
    Aluminum and iron parts supplier, Aludyne has acquired Shiloh Industries’ CastLight division according to a company press release on 13 April. The acquisition combined entity is expected to generate pro forma revenue of more than USD1 billion. Current Capital Partners LLC and KPMG acted as financi...
    Infineon Technologies raises USD1 billion for Cypress Semiconductor acquisition
    According to a press release dated 8 April, Infineon Technologies AG has successfully signed a USD1.3 billion US private placement of notes. The transaction proceeds will be used to repay existing US Dollar bank term loans related to the acquisition of Cypress Semiconductor Corporation. Dr. Sven ...
    ACQUISITION: Eissmann Group completes acquisition of Minda KTSN
    Eissmann Group Automotive has announced the completion of acquisition of Minda KTSN Plastic Solutions GmbH & Co. KG, according to a press release on 7 April 2021. The company closed the acquisition as planned on 31 March. The former Minda KTSN Plastic Solutions is now called Eissmann Automotive ...
    ACQUISITION: Trèves Group acquires automotive acoustics companies ROI Technologies and CTA Acoustics
    Trèves Group has completed the acquisition of a majority stake in ROI Technologies, and along with partner Kotobukiya Fronte, the acquisition of CTA Acoustics, it said in a company press release on 4 April. The financial details of the deals were undisclosed. Headquartered in Cazzano-San Andrea,...
    Leoni plans to sell data communication and compound business activities in Stolberg, Germany location
    Leoni plans to sell its data communication and compound business units to a consortium of buyers led by current managing director, the company announced in a press release on 31 March 2021. Leoni has informed employee representatives and the employees of Leoni Kerpen GmbH of its intention to sell th...
    ACQUISITION: Cognizant acquires ESG Mobility to expand its connected, autonomous, and EV businesses
    Cognizant has acquired ESG Mobility for an undisclosed sum, the company said in a press release on 25 March. ESG Mobility provides digital automotive engineering research and development (R&D) for connected, autonomous and electric vehicles. Cognizant will employ the services of around 1,000 eng...
    DIVESTMENT: Kumho Tire to sell natural rubber processing plant in Vietnam
    Kumho Tire has announced that it will sell its natural rubber processing plant in Vietnam to focus on its core business, reports Yonhap. The development comes on the back of the South Korean tire-maker striking a deal with a joint venture between Korean automaker Hyundai Motor and Thanh Cong Group o...
    ACQUISITION: Lear acquires injection molding specialist M&N Plastics
    Lear has acquired M&N Plastic, a US-based injection molding specialist and manufacturer of engineered plastic components for automotive electrical distribution applications, the company said in a press release on 25 March. The company has not disclosed the financial details of the transaction. ...
    UNO MINDA increases stake in Tokai Rika Minda JV to 30%
    UNO MINDA has increased its stake in Tokai Rika Minda India Private Limited (TRMN) joint venture (JV) from 12.86% to 30%, the Indian supplier said in a regulatory filing on 24 March 2021. TRMN is JV company between UNO MINDA Group and Japan-based Tokai Rika Co. Ltd. Significance: TRMN is eng...
    Eaton acquires EV charging systems developer Green Motion
    Power management company Eaton has acquired Switzerland-based Green Motion SA, a designer and manufacturer of electric vehicle (EV) charging hardware and related software, according to an Eaton press release on 22 March 2021. “Energy transition around the world is rapidly gathering momentum, an...
    u‑blox acquires entire stake in JV Sapcorda Services
    u‑blox has announced the acquisition of the entire stake in Sapcorda Services, according to its press release on 18 March. Sapcorda Services a joint venture (JV) formed by u‑blox, Bosch, Geo++, and Mitsubishi Electric, offering advanced GNSS augmentation services. Financial details of the deal w...
    ACQUISITION: Spireon acquires LoJack U.S. Stolen Vehicle Recovery business from CalAmp
    Spireon has announced the acquisition of LoJack U.S. Stolen Vehicle Recovery business from CalAmp, according to a company press release on 16 March. The financial details of the transaction were not immediately known. “Spireon's decision to acquire the LoJack U.S. business reinforces our longst...
    M&A: Bharat Forge acquires 100% stake in Kalyani Powertrain
    Bharat Forge has acquired a newly formed company within Kalyani Group named Kalyani Powertrain Private Limited (KPPL), according to a BSE filing by Bharat Forge on 16 March 2021. KPPL has been formed with an aim to develop electric powertrain transmission systems for the automotive sector. KPPL has ...
    DIVESTMENT: Mutares sells majority stake in STS Group to Adler Pelzer
    Mutares SE & Co.  has signed a share purchase agreement with Adler Pelzer Holding GmbH, a company of the Adler Pelzer Group, for the sale of its entire majority shareholding of 73.25% in STS Group AG, according to separate press releases by STS and Adler Pelzer on 11 March. Mutares expects ...
    ACQUISITION: Cruise acquires autonomous mobility startup Voyage
    Cruise, an autonomous driving company backed by General Motors (GM), has acquired US-based Voyage Autonomous, Oliver Cameron, cofounder and CEO of Voyage confirmed in a blog on 15 March. “I am delighted to share that Voyage is being acquired by Cruise! Together, we will deliver on the promise...
    Northvolt receives long-term EV battery supply order from Volkswagen worth over USD14 billion
    Sweden-based EV battery startup Northolt has received a USD14 billion order for supply of premium battery cells to Volkswagen Group in Europe over the next 10 years, according to a company press release on 15 March. In order to accommodate this supply order, Northvolt will expand its gigafactory in ...
    Igarshi Motors to divest stakes in Bosch Electrical Drives India
    Igarshi Motors India announced that its board of directors approved the proposal for sale of entire investment of the company held in Bosch Electrical Drives India Private Limited (BEDIPL), according a filing with National Stock Exchange (NSE) on 10 March. The deal is expected to complete on or befo...
    Adient ends joint venture with Yanfeng Automotive in mainland China
    Adient has entered into definitive agreements with Chinese joint venture (JV) partner Yanfeng Automotive Trim Systems to end its seating JV, Yanfeng Adient Seating (YFAS) in mainland China, the US-based automotive supplier said in a press release on 12 March. Under the agreements, Adient will sell i...
    ACQUISITION: Northvolt acquires US-based EV battery cell startup Cuberg
    Sweden-based EV battery startup, Northvolt, has announced the announced the acquisition of Cuberg, Inc., an American battery technology company delivering high-performance lithium metal cells produced on existing lithium-ion (Li-ion) manufacturing lines for electromobility solutions. ...
    TNO spins off 3D battery business as LionVolt BV
    Netherlands based TNO is spinning off its 3D solid-state battery activities from Holst Centre to a new business called LionVolt BV, TNO announced in a press release on 3 March. LionVolt is in the process of finalizing its seed funding to help accelerate development of 3D batteries. While the init...
    Vale agrees to sell stake in nickel business in New Caledonia; Tesla becomes technical partner
    Political leaders in New Caledonia have agreed to new terms for the sale of Vale’s nickel business, including a majority stake holding for local interests, alongside forming a “technical and industrial partnership” with Tesla, according to a Reuters report. Under the new agreement, political g...
    ACQUISITION: GM’s Cruise is in talks to buy autonomous vehicle startup Voyage
    Cruise, a majority-owned autonomous driving subsidiary of General Motors (GM), is in talks to acquire Voyage, a California, US-based that offers autonomous transportation to retirement communities, Bloomberg reported last week citing people familiar with the development. The two companies are report...
    ACQUISITION: Chinese group Hisense's subsidiary buys majority stake in Sanden
    Sanden Holdings Co., Ltd. signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. at the board of directors meeting held on 1 March. According to a press release issued by Sanden Holdings on the same day, the company has resolved to issue new shares through a third-party a...
    ACQUISITION: Dana acquires Pi Innovo to strengthen e-propulsion capabilities
    American automotive powertrain components supplier, Dana Inc., has announced that it has acquired the Detroit-based embedded software solutions and electronic control units, Pi Innovo. According to a press release issued by Dana on 1 March, the company stated that this acquisition will support its l...
    ACQUISITION: Harman acquires V2X technology firm Savari
    HARMAN has acquired Savari for an undisclosed amount, the Samsung unit said in a press release on 26 February. HARMAN will be able to leverage Savari’s software and hardware technologies, especially for vehicle-to-everything (V2X), and expand its own automotive telematics and advanced driving assi...
    European Commission approves acquisition of EKPO and EKAT
    The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Germany-based EKPO Fuel Cell Technologies (EKPO) by Germany-based ElringKlinger and Plastic Omnium New Energies, and the acquisition of sole control of Austria-based ElringKlinger Fuelcell ...
    Continental picks minority stake in AI-chip startup Recogni
    Germany-based Continental has acquired a minority stake in the German-US startup Recogni, according to a company press release on 23 February 2021. Recogni is working on a new chip architecture for object recognition in real-time based on artificial intelligence (AI). The processors of the future ar...
    PPG completes acquisition of coatings manufacturer VersaFlex
    PPG has completed its acquisition of VersaFlex from DalFort Capital Partners, according to a company press release on 22 February. Financial terms of the deal were not disclosed. VersaFlex specializes in polyurea, epoxy, and polyurethane coatings for water and wastewater infrastructure, flooring, tr...
    ACQUISITION: Goodyear to acquire Cooper Tire for USD2.5 billion
    American tire manufacturer, Goodyear Tire & Rubber Company, has announced that it has entered into a definitive transaction agreement to acquire Cooper Tire. According to a joint press release issued by Goodyear and Cooper Tire on 22 February, the transaction has a total enterprise value of appr...
    ACQUISITION: Elastofirm acquires German materials provider Poppe
    The Dutch company Elastofirm has acquired Germany-based automotive supplier Poppe Elastomertechnik GmbH, according to a company press release on 11 February. The parties have agreed not to disclose the purchase price. Poppe and the Liquid Silicone Rubber (LSR) activities are becoming part of th...
    Modine announces partial sale of Austrian air-cooled automotive business
    US-based thermal management technology and solutions provider, Modine Manufacturing Company, announced that it has agreed to sell a portion of the Company's European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria. According to a press release...
    Faurecia to sell acoustics, soft trim business to Adler Pelzer Group
    Faurecia has signed a memorandum of understanding (MOU) for sale of its Acoustics and Soft Trim (AST) division to the Adler Pelzer Group (APG), a manufacturer of automotive acoustic and thermal components and systems, the two companies said in separate press releases on 18 February. “We have ta...
    ACQUISITION: Faurecia acquires China-based high-pressure hydrogen tank manufacturer CLD
    In a move to strengthen its hydrogen mobility strategy, Faurecia has acquired mainland China-based  high-pressure hydrogen tank manufacturer CLD, the company announced in a press release on 16 February. Faurecia and CLD will develop and manufacture homologated type III and IV hydrogen storage t...
    ACQUISITION: V99 completes acquisition of Telenav
    Telenav has announced that V99 has acquired the company at USD4.80 per Telenav share in an all cash transaction, a company press release read on 17 February. As a result of the acquisition, Telenav becomes a private company and will no longer be listed on any public market. It will continue to remai...
    ACQUISITION: Rusal acquires German supplier Aluminium Rheinfelden
    Rusal has acquired business and assets of Germany-based aluminum producer Aluminium Rheinfelden out of insolvency, the company announced in a press release on 11 February. The takeover is subject to approval by the German Federal Ministry for Economic Affairs and Energy and the German Federal Cartel...
    Statkraft acquires Swedish EV charging company Bee Charging Solutions
    Norway-based energy company Statkraft has acquired a majority 51%  stake in Swedish electric vehicle (EV) charging company Bee Charging Solutions, the company announced in a press release on 9 February. Öresundkraft, Jämtkraft, and Tekniska Verken will keep  the remaining 49%. Statkraft ...
    OSRAM reports 3.8% y/y drop in revenue to USD1 billion for Q1 2021
    German lighting major OSRAM Licht AG has reported a 3.8% year-on-year (y/y) drop in revenues to EUR840 million (about USD1 billion) for the first quarter ended 31 December 2021, according to a company press release on 9 February. Adjusted EBITDA grew 42.1% y/y to EUR162 million and EBIDTA margi...
    ACQUISITION: Nidec to acquire Mitsubishi Heavy Industries Machine Tool to support electrification business
    In a press release dated 5 February, Nidec announced that it will acquire Mitsubishi Heavy Industries Machine Tool. After completion of the acquisition, Mitsubishi Heavy Industries Machine Tool will become the Nidec-Shimpo’s third main business. The company expects to utilize Mitsubishi Heavy Indu...
    ACQUISITION: Renesas to buy Dialog Semiconductor
    Renesas has announced that it has reached an agreement to acquire Dialog Semiconductor, according to a press release on 8 February. The agreement is for an all-cash acquisition by Renesas of the entire issued and to be issued share capital of Dialog for EUR67.50 per share for a total value of about ...
    Sensata Technologies completes acquisition of Lithium Balance
    Sensata Technologies has completed the acquisition of Denmark-based battery management system (BMS) provider Lithium Balance, according to a company press release on 2 February. The Danish startup, founded in 2006, has developed next-generation BMS technologies for lithium-ion (Li-ion) bat...
    OSRAM sells plant in Bulgaria to Sanmina
    German lighting supplier OSRAM has sold its plant near Plovdiv in Bulgaria to US-based electronics manufacturer Sanmina Corp., according to a report by SeeNews on 4 February. The plant located in the Bulgarian city of Plovdiv makes digital lighting components. The plant employs around 800 peopl...
    Daimler to split into two entities for accelerating push to zero-emission, software-driven future
    The Supervisory Board and the Board of Management of Daimler agreed to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck. Furthermore, Daimler will also rename itself as Mercedes-Benz. The company made these two announcements in a press ...
    Divestment: Hella sells stake in Mando Hella Electronics JV to South Korean partner
    Hella has announced that it will sell its 50% stake in the South Korean joint venture Mando HELLA Electronics (MHE) to Mando, according to a press release on 3 February. The transaction is expected to be completed in the first quarter of 2021 at EUR60 million (USD72 million). “We have worked ve...
    ACQUISITION: Cosworth to acquire vehicle dynamics control systems provider, Delta
    Cosworth and UK-based Delta have announced that an agreement has been signed for Cosworth to fully acquire Delta, the Silverstone-based developer of battery and vehicle dynamics control systems. According to a press release issued by Cosworth on 2 February, the company stated that the acquisition of...
    REE Automotive to become publicly listed through merger with 10X Capital Venture Acquisition Corp
    Israeli electric vehicle (EV) chassis platform startup, REE Automotive, has announced that it has entered into a merger agreement with 10X Capital Venture Acquisition Corp. According to a press release issued by REE Automotive on 3 February, the newly combined company will be listed on the NASDAQ un...
    HELLA completes sale of front camera software business
    The global automotive lighting and electronics specialist HELLA has successfully completed the sale of its front camera software business, according to a company press release on 2 February. Following approval by the relevant antitrust authorities and the fulfilment of further contractual conditions...
    EV battery startup Microvast to go public through merger with Tuscan Holding
    Microvast Inc., a provider of next-generation battery technologies for commercial and specialty vehicles and Tuscan Holdings Corp., a special purpose acquisition company (SPAC), have announced that they have entered into a definitive merger agreement that will result in Microvast becoming a publicly...
    MAHLE completes acquisition of Keihin’s air-conditioning business
    Germany-based automotive components and systems supplier, MAHLE, has announced that it has taken over the air-conditioning business in Japan, Thailand, and the US from the former Keihin Corporation (now Hitachi Astemo, Ltd.). According to a press release issued by MAHLE on 1 February, the acqui...
    ACQUISITON: Shell to acquire EV charging startup ubitricity
    Shell has signed an agreement to buy 100% of ubitricity, a major European provider of on-street charging for electric vehicles (EVs), the latter announced in a press release on 25 January. Subject to regulatory clearance, the deal is expected to be completed later this year. Upon completion of the d...
    Illinois Tool Works to acquire MTS Test & Simulation business from Amphenol
    Illinois Tool Works Inc. (ITW) and Amphenol Corporation, a global provider of high-technology interconnect, antenna and sensor solutions, announced on 20 January that they have entered into an agreement under which ITW will acquire MTS Systems Corporation’s Test & Simulation business, fol...
    ACQUISITION: Elmos acquires electric drive specialist Online Engineering
    Elmos Semiconductor has announced the acquisition of Online Engineering, a company press release read on 18 January. The Dortmund, Germany-based company specializes in the development of hardware and software components for electric drives. Financial details of the deal were not disclosed. “We ...
    ACQUISITION: Motherson Sumi to acquire majority stake in Turkey-based Plast Met Group
    Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is acquiring a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.veTic.A.Ş.(PM-Istanbul)—together known as Plast Met group (Turkey)—through its subsidiary Samvardhana Motherson Reflecte...
    Sogefi sells filtration plant in Spain
    Sogefi has divested its filtration plant in Cerdanyola, Spain, to Fragola International Group, the company said in a press release on 15 January 2021. The transaction excludes the aftermarket activities in Spain, that will remain within Sogefi’s perimeter. Enterprise value for the transaction is e...
    ACQUISITION: Garrett Motion selects enhanced proposal from Centerbridge and Oaktree
    Swiss automotive powertrain components and systems manufacturer, Garrett Motion, has announced that it has selected an enhanced proposal put forward by a consortium of stockholders led by Centerbridge Partners, L.P., and Oaktree Capital Management, L.P., in order to reorganize the company. Accord...
    PPG to acquire coatings manufacturer Wörwag
    PPG Industries has reached a definitive agreement to acquire Wörwag, a global manufacturer of coatings for industrial and automotive applications, according to a press release on 11 January. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. ...
    Bridgestone Americas divests Firestone Building Products business to focus on tire business
    South Korean tiremaker Bridgestone’s US division, Bridgestone Americas, has announced that it has divested Firestone Building Products, a commercial roofing and building envelope solutions provider, in order to focus on its tire business. According to a press release issued by Bridgestone Americas...
    ACQUISITION: Teledyne Technologies inks definitive agreement to acquire FLIR Systems
    Teledyne Technologies Incorporated has inked a definitive agreement to acquire FLIR Systems, Inc., according to a FLIR press release on 4 January 2021. Teledyne will acquire FLIR in a cash and stock transaction valued at approximately USD8 billion. Under the terms of the agreement, FLIR stockhold...
    Rico Auto acquires stake in Metalart Friction
    Indian auto parts supplier has acquired a stake in Metalart Friction Private Limited (MFPL), according to a BSE filing by Rico on 30 December. According to the filing, the company has completed the acquisition of 7,000 equity shares having a face value of INR10 each from its existing Promoter Shareh...
    Showa marginally reduces shareholding in Indian JV Munjal Showa to 24.9%
    Japan-based Showa Corporation has reduced shareholding in Indian joint venture (JV) Munjal Showa to 24.9%, according to a BSE filing by Munjal Showa on 30 December 2020. Showa has divested 4,39,973 number of equity shares comprising 1.10% of the paid-up share capital of the JV. After the said dispos...
    Nuro acquires autonomous truck startup Ike
    Nuro has acquired autonomous truck startup Ike for an undisclosed amount, the company said in a blog on its website on 23 December. The companies have already started working on integration of teams and technology. Currently, Ike sources its localization, perception, prediction, and planning softwar...
    Sogefi sells filtration business in Brazil to Eagle Holdings
    Sogefi has inked a binding agreement to sell its Brazilian Filtration business to SA Eagle Holdings, the company announced in a press release on 17 December 2020. Enterprise value for the transaction is estimated around EUR2.3 million (USD2.8 million). The company expects the transaction to close by...
    Hyundai Mobis acquires semiconductor division of Hyundai Autron
    Hyundai Mobis has announced has signed a contract to acquire the semiconductor division of Hyundai Autron, according to a company press release on 14 December. The acquisition cost was USD122 million. The acquisition will give Hyundai Mobis the capability to design, develop, and verify semiconductor...
    Hyundai to acquire 80% stake in Boston Dynamics from SoftBank
    Hyundai Motor Group (HMG) has reached an agreement with SoftBank Group to acquire controlling stake in Boston Dynamics in a deal that values the robotic company at USD1.1 billion, the South Korean automotive group said in a press release on 11 December. As part of the agreement, HMG will acquire aro...
    Varroc acquires partner’s stake in Romanian JV Varroc-Elba
    VarrocCorp Holding B.V. (VCHBV), a wholly owned subsidiary of Varroc, has acquired the balance 30% stake in Romanian joint venture (JV) Varroc-Elba Electronics S.R.L held by the other JV partner, ELBA SA, according to a filing by Varroc with BSE on 9 December. The deal is valued at EUR1.05 million (...
    Bosch reduces stake in EV-startup Nikola to 4.9%
    Bosch has reduced its stake in electric vehicle (EV) startup Nikola from 6.4% to 4.9%, Bloomberg reported on 3 December. The Germany-based automotive supplier cut its ownership below 5% after a lockup period for early investors expired on 30 November 2020. “Our initial investment was primarily mea...
    LG Chem completes spin-off of battery business as 'LG Energy Solution'
    LG Chem has completed the spin-off of its battery business into a new company 'LG Energy Solution', the company announced in a press release on 1 December. LG Chem announced that Kim Jong Hyun has been appointed as the first president of LG Energy Solution. “LG Energy Solution pioneered with an un...
    Bosch to acquire minority stake in US-based startup Sfara
    In a bid to expand mobility service business, Bosch Service Solutions is acquiring a minority stake in Sfara Inc., a US-based startup, the German supplier said in a press release on 30 November. The companies have not disclosed financial details of the transaction. “With this investment in Sfar...
    MAHLE to sell shares in MAHLE König
    Germany-based automotive components and systems supplier, MAHLE, has announced that it will be selling all of its shares in MAHLE König. According to a press release issued by MAHLE on 26 November, the company states that this divestment will take effect from the end of November. Since 1999, MAH...
    Lumentum acquires certain technology assets of TriLumina
    Lumentum Holdings Inc. has acquired certain technology assets of and TriLumina Corporation, including its patents and other intellectual property, Lumentum announced in a press release on 16 November 2020. The companies did not disclose the terms of the transaction. Significance: Lumentum is a ma...
    Recticel to acquire Conxzetta Group’s foam solution company FoamPartner
    Recticel has entered into final agreements with Swiss Conzzeta AG to acquire FoamPartner in cash for an enterprise value of CHF270 million (USD296 million), CHF 20 million of the price being payable in January 2022, Recticel announced in a press release on 10 November. This represents an 8.6× avera...
    Sierra Wireless completes sale of automotive embedded module product line
    Sierra Wireless has completed the previously announced sale of its China-based automotive embedded module product line to Rolling Wireless (H.K.) Limited for USD165 million in cash, according to a press release on 18 November. The sale of the automotive product line includes approximately USD19 mill...
    Valmet Automotive completes divestment of engineering service business
    In a press release dated 16 November, Valmet Automotive has completed divestment of its engineering service business to Mutares SE & Co. KGaA. With the sale of the Engineering Services, Valmet Automotive has exited traditional vehicle development and combustion engine related technologies. Si...
    Uber explores selling autonomous driving unit
    Uber is in talks to sell its autonomous driving unit, Uber Advanced Technology Group (ATG), to Aurora Innovation, TechCrunch reported on 14 November citing three people familiar with the development. Terms of the deal are known but Uber has been talks with Aurora since October, the report claimed. &...
    TOTAL acquires EV charging solutions business from Germany-based Digital Energy Solutions
    Energy company TOTAL has acquired electric vehicle (EV) charging solutions business from Germany-based Digital Energy Solutions, TOTAL announced in a press release on 2 November. With the integration of the Charging Solutions business unit, TOTAL is taking over around 1,400 charging statio...
    ACQUISITION: Adler Pelzer Group acquires acoustic division of STS Group
    Adler Pelzer Group has acquired the acoustic division of STS Group, according to a company press release on 30 October. The company announced completion of the acquisition after receiving the green light from antitrust authorities and other closing conditions. "We are very proud of this mark...
    Acquisition: Telenav agrees to be acquired by V99
    Telenav has entered into a definitive agreement to be acquired by V99, Inc., in an all-cash transaction that values Telenav at about USD241 million, the US-based said in a press release on 3 November. V99 is a US-based company established by HP Jin, cofounder, president, and CEO of Telenav. Jin, alo...
    DIVESTMENT: Modine signs agreement to sell majority of automotive business to Dana
    Thermal management technology and solutions provider, Modine Manufacturing Company, has announced that it has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business. According to a press release issued by Modine on 2 November, the company st...
    LG Chem shareholders approve spin-off of battery business
    LG Chem shareholders have approved spinning off its battery business as a standalone company, The Korea Times reported on 30 October. The new company will be named LG Energy Solution and will be established as a fully-owned subsidiary of LG Chem on 1 December 2020.  Significance: LG Chem fir...
    Groupe PSA reduces stake in Faurecia to 39%
    Groupe PSA has announced the completion of the sale of 9,663,000 shares in Faurecia, representing approximately a 7% stake in the French supplier, via an institutional private placement, the automaker said in a press release on 28 October. The proceeds from the transaction amount to approximately EU...
    Continental mulls divesting its turbocharger business
    Continental is mulling to sell its turbocharger business as part of its ongoing restructuring program, Bloomberg reported on 22 October. Continental is reportedly in talks with prospective buyers. Significance: In 2019, Continental announced a long-term restructuring program "Transformation 2019...
    Mahle to acquire air conditioning business of Japanese supplier Keihin
    Mahle has inked a purchase agreement to acquire Keihin Corporation’s air conditioning business in Japan, Thailand, and the United States, the former announced in a press release on 23 October 2020. The implementation of the agreement, which is expected in the first quarter of 2021, requires the ap...
    ACQUISITION: KPS Capital raises stalking horse bid for Garrett Motion to USD2.6 billion
    In a press release dated 19 October, Garrett Motion has announced that it has received a higher stalking horse bid from KPS Capital Partners. KPS Capital has raised the bid by USD500 million to USD2.6 billion. KPS would also offer coinvestment in an aggregate amount of up to USD350 million, of which...
    Liberty Steel Group makes an offer to acquire thyssenkrupp Steel Europe
    LIBERTY Steel Group has made a non-binding indicative offer (NBIO) to thyssenkrupp to acquire the German steel major's assets in Europe, according to a press release on the website of LIBERTY Steel Group on 16 October. LIBERTY Steel’s proposal is subject to certain assumptions about the business. ...
    ACQUISITION: VOSS Group acquires HENZEL Automotive to strengthen presence in thermal management systems
    German automotive components supplier, VOSS Automotive, has announced its acquisition of Henzel Automotive GmbH. According to a press release issued by the Voss Group on 19 October, this will complement the Group’s development and production competencies in the automotive thermal management s...
    Acquisition: Lumax Auto to acquire JV partner stake in Lumax Gill-Austem
    Lumax Auto Technologies has acquired the entire shareholding held by erstwhile joint venture (JV) partner in Lumax Gill Austem Auto Technologies Private Limited (LGAAT), a subsidiary of the company, according to a regulatory filing by the company in 16 October. The deal is valued at INR7.3 million. ...
    Nippon Steel considers selling two automotive steel plants in US
    Nippon Steel is considering selling two of its automotive steel plants in the US state of Indiana, according to a report by The Japan Times on 14 October. Nippon Steel is thinking of following the suit after its partner ArcelorMittal, which jointly owns a company running the two plants, decided to s...
    DIVESTMENT: Valmet to sell Engineering Services Business to intensify focus on e-mobility
    Valmet Automotive has reached an agreement to divest its Engineering Services Business Line to Mutares SE & Co. KGaA, according to a company press release on 12 October. The divested engineering services business includes vehicle development, electrics/electronics, simulation and testing se...
    Acquisition: Autonomous vehicle safety company Foretellix to acquire startup Metamoto
    Israeli startup Foretellix has announced that it will acquire Metamoto for an undisclosed amount, a company press release read on 7 October. Foretellix target of offering OEMs and tier-1 suppliers with simulator agnostic verification and validation solution will be boosted by Metamoto’s experti...
    ACQUISITION: BorgWarner completes acquisition of Delphi Technologies
    American automotive components manufacturer, BorgWarner, has announced that it has completed the acquisition of Delphi Technologies. In a press release issued by BorgWarner on 2 October, the company stated that acquiring Delphi Technologies would reinforce BorgWarner’s electronics and power electr...
    DIVESTMENT: Adient completes sale of fabric business to Sage Automotive Interiors
    Adient completed the previously announced sale of its automotive fabric manufacturing business to Sage Automotive Interiors on 30 September, the US-based automotive supplier said in a press release on 1 October. Sage Automotive Interiors, a wholly owned subsidiary of Japan-based Asahi Kasai Group pa...
    Novelis sells Belgium plant as part of Aleris acquisition
    Novelis, a major player in aluminum rolling and recycling, has sold the former Aleris plant in Duffel, Belgium, to ALVANCE, the aluminum business of the GFG Alliance, according to a company press release on 2 October 2020. The transaction is part of Novelis’s acquisition of Aleris. Significance...
    Total acquires EV charging company ‘Blue Point London’
    Energy company Total has acquired electric vehicle (EV) charging company ‘Blue Point London’ from the Bolloré Group, the company announced in a press release on 29 September. With this transaction, Total is taking over the management and operation of EV charging network Source London. This tran...
    DIVESTMENT: HELLA to sell front camera software business to Volkswagen’s Car.Software Org
    HELLA has announced that it will be selling its front camera software business to Volkswagen’s Car.Software Org, a company press release on 29 September read. The transaction is expected to result in an income of about EUR100 million (USD116.5 million) for HELLA. Following the closure of the tr...
    Diodes gets mainland China’s State Administration for Market Regulation approval for Lite-On Semiconductor acquisition
    Diodes has received approval from mainland China’s State Administration for Market Regulation (SAMR) for the acquisition of Lite-On Semiconductor, the company said in a press release on 23 September. The transaction is expected to close by the end of November 2020. Significance: In March, Diode...
    LeddarTech acquires assets of Phantom Intelligence
    LeddarTech has acquired the assets of Phantom Intelligence, including all of its intellectual property (IP) and technology, the company said in a press release on 22 September 2020. Phantom Intelligence, founded in 2011, specializes in signal processing and lidar technology that protects vulnerab...
    KPS Capital Partners enters agreement for potential acquisition of Garrett Motion’s business
    Swiss automotive powertrain components manufacturer Garrett Motion announced that it has signed a stock and asset purchase agreement with US-based private equity firm KPS Capital Partners, wherein the company, through an affiliate, would acquire substantially all of the assets of Garr...
    SPIN-OFF: LG Chem announces plan to spin off its battery business
    LG Chem has announced plans to spin off its battery business, a company press release read on 17 September. The decision has been approved by the board and is subject to shareholder approval. LG Chem says that it will be a physical division in which LG Chem will possess all of the stocks issued b...
    Does the acquisition of Arm give NVIDIA the keys to autonomous driving?
    US-based NVIDIA’s announced agreement to acquire UK-based Arm from SoftBank is a significant development for automotive electronics. Arm brings CPU intellectual property (IP) expertise that has enabled low-powered, embedded solutions, and NVIDIA’s graphics processing unit (GPU) IP expertise has ...
    ACQUISITION: HELLA acquires plastics technology specialist FWB Kunststofftechnik
    HELLA GmbH & Co. KGaA has acquired Germany-based plastics technology specialist FWB Kunststofftechnik GmbH (FWB), according to a HELLA press release on 15 September 2020. HELLA already has a 25% stake in FWB. With the complete takeover, which took place on 14 September 2020, HELLA intends to sec...
    loading
    preload preload preload preload preload