Filters
Your Selections
    [clear all]
    Asset
    Published
    Vehicle Domain
    Topical Categories
    Supplier
    OEM
    Region / Country/Territory
    Talking Heads: Key themes for 2023
    The current year has again been dominated by the chip crisis. Overlaid on this has been the worsening macroeconomic position due to the fallout from the Russia-Ukraine conflict, which has had knock-on effects for the industry in terms of demand surety. In turn this has brought an end to the era of cheap capital, which has served to slow the burgeoning mobility startup ecosystem. In the broader sense the sector looks set to be heading to a phase where demand-side considerations replace the curren...
    Update on the semiconductor shortage and outlook for 2023 and beyond
    From the first rumblings out of China in December 2020 the semiconductor has gone on to dominate discussions around the automotive sector. The issues are still ongoing – just last week Jaguar Land Rover announced it was slowing production of certain models due to a continuing supply squeeze – and a few voices in the industry are being heard speculating that the crunch will last until 2026. To get a perspective on the current situation and future developments we talked with Jeremie Bouchaud, ...
    BorgWarner acquires Switzerland-based Drivetek AG
    Michigan-based global automotive component supplier BorgWarner Inc. has acquired Switzerland-headquartered Drivetek AG for CHF35 million (USD37.31 million), the company announced on 2 December 2022. BorgWarner said that while it has paid CHF25 million (USD26.65 million) at the closing of the transaction, the remaining amount of CHF10 million  would be paid in the form of contingent payments over the next three years. Commenting on the acquisition, Frédéric Lissalde, President and CE...
    Aptiv completes acquisition of Intercable Automotive Solutions
    Aptiv has completed the acquisition of an 85% equity stake in Intercable Automotive Solutions from Intercable S.r.l, according to a press release on 1 December 2022. As an industry leader in high-voltage power distribution and interconnect technology, Intercable Automotive Solutions will enhance Aptiv's position as a global leader in vehicle architecture systems. The transaction is valued at EUR595 million, subject to customary post-closing adjustments, and is expected to be accretive to earn...
    Software firm CARIAD to acquire paragon semvox
    CARIAD has announced that it is set to acquire artificial intelligence (AI) company paragon semvox, in a press release dated 1 December. The transaction is expected to close by the spring of 2023. Following the acquisition, Currently, CARIAD will retain the over 140 employees who currently work at the semvox sites in Limbach and Nuremberg. The paragon development teams in India and mainland China will also continue to support semvox. “With today's signing of the purchase agreement regarding...
    onsemi completes sale of Niigata, Japan, facility to JS Foundry K.K
    onsemi has completed the sale of its Niigata, Japan facility to JS Foundry K.K., it said in a press release on 1 December. JS Foundry K.K. will use the site as the foundation for its new foundry business in Japan. onsemi has also entered into a wafer supply agreement with JS Foundry to continue existing wafer fabrication at the site. “After an in-depth search for a buyer for the last two years, we are confident to have found the right partner for the facility in JS Foundry K.K. As always, w...
    Trelleborg to acquire Injectoplast’s USD7 million elastomer boots manufacturing business
    Swedish polymer tech company Trelleborg announced via press release on 25 November that it had signed an agreement to acquire the automotive boots manufacturing business of India-based privately owned company Injectoplast to strengthen its own position in the global boots market. According to the press release, assets involved in the acquisition include a head office and a manufacturing center in the Indian state of Uttar Pradesh located strategically close to a light vehicle manufacturing cl...
    Stellantis to acquire AI and autonomous driving software company aiMotive
    Stellantis has signed an agreement to acquire aiMotive, it said in a press release on 17 November. The acquisition will add to Stellantis’ artificial intelligence and autonomous driving core technology and boost the midterm development of the STLA AutoDrive platform. “Acquiring aiMotive’s world-class artificial intelligence and autonomous driving technology is an important contribution to becoming a sustainable mobility tech company. aiMotive’s class-leading expertise and startup spir...
    Arconic sells Russian aluminum business for USD230 million
    US materials supplier Arconic announced via press release on 15 November that it had completed the sale of its Russian assets to Promyshlennye Investitsii OAO for USD230 million. Arconic CEO Tim Myers discussed the sale, stating, “The assets of our Russian business have been restricted since prior to our emergence as a standalone company in April 2020. Operating in Russia only became more difficult and our ability to operate going forward became increasingly uncertain in light of the curren...
    Volvo Cars to divest 33% holding in Aurobay to parent company Geely Holding
    Swedish carmaker Volvo Cars plans to divest its 33% stake in Aurobay to parent company Geely Holding as part of its corporate strategy to develop only electric cars by 2030, the company announced on 8 November 2022. “The divestment is yet another important step in its transformation towards becoming a fully electric car manufacturer,” the company said in its official statement Tuesday. It added that the divestment also makes Volvo Cars the first car manufacturer to fully exit its par...
    Volkswagen sells WeShare to Berlin-based car sharing company MILES Mobility
    The Volkswagen Group has entered into a partnership with car sharing company MILES Mobility to sell UMI Urban Mobility International GmbH and WeShare car sharing business, according to Volkswagen’s press release on 1 November 2022. Both parties have agreed not to disclose the purchase price. Also in the context of the new partnership, MILES has ordered more than 10,000 all-electric vehicles from the Audi, Seat/Cupra and Volkswagen Passenger Cars brands, which are scheduled for delivery from...
    Celanese completes EUR11 billion acquisition of DuPont’s engineering materials business
    US chemical company Celanese announced via press release on 1 November that it had completed the EUR11 billion (USD10.8 billion) acquisition of a majority of DuPont’s Mobility & Materials (M&M) business lines. According to the press release, the takeover of business lines involves acquisition of DuPont’s broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, and global production assets. Celanese CEO Lori Ryerkerk discus...
    Leather upholstery maker Pecca Group to acquire 80% stake in PT Gemilang Maju Kencana
    Malaysia-based automotive leather upholstery maker Pecca Group has announced that it signed a memorandum of understanding (MOU) with PT Gemilang Maju Kencana (GMK) to acquire 80% stake in GMK, The Star reported on 1 November. Foo Ken Nee, CEO, Pecca Group, said, "Indonesia is expected to be an important engine of growth for Pecca as it strives to enlarge its foreign presence in the automotive industry.” According to the report, Pecca is expected to invest IDR2.4 billion (USD157,714). ...
    Vishay Intertechnology acquires MaxPower Semiconductor
    Vishay Intertechnology has announced that it acquired MaxPower Semiconductor for USD50 million, according to a press release published by GlobeNewsWire on 31 October. Marc Zandman, executive chair of the Board, Vishay, said “As Vishay orients the company for growth, innovation will play an important role, and we plan to intensify business development activities focused on acquiring technologies that offer attractive opportunities to expand our product portfolio and strengthen our competitiv...
    Bridgestone to exit Russia, initiates process to find buyer for local assets
    Japanese tire manufacturer Bridgestone announced via press release on 31 October that it had initiated the process to find a local buyer for its Russian assets in line with its plans to exit the country due to the general uncertainty and supply issues. According to the press release, the process of finding a buyer and closing the sale deal is expected to take several months. Significance: The Japanese tire manufacturer had in March announced that it would be suspending local manufacturing ...
    Nokian Tyres to sell Russian operations to Tatneft for EUR400 million
    Finnish tire manufacturer Nokian announced via press release on 28 October that it had signed an agreement to sell its Russian operations to Russian oil and gas company Tatneft PJSC for EUR400 million (USD398 million). According to the press release, the tire manufacturer will be ending all its operations in the country upon closing of the transaction. The company stated that that the discontinued supply of tires from Russia is expected to adverse impact its sales in Central Europe for the...
    Ford, VW-backed autonomous vehicle technology startup Argo AI to shut operations
    Volkswagen and Ford backed autonomous technology joint venture ‘Argo AI’ is shutting down as the automakers shift their strategies for self-driving cars, according to a report published by Bloomberg on 26 October 2022. Ford concluded that rather than Argo's aim of driving with little human interaction, it needed to invest in driver-assistance technology that was more achievable in the short term. “Profitable, fully autonomous vehicles at scale are a long way off and we won’t necess...
    Renesas completes acquisition of India-based radar specialist Steradian Semiconductors
    Renesas Electronics has announced that it has completed the acquisition of Steradian Semiconductors Private Limited, a fabless semiconductor company providing 4D imaging radar solutions, according to a press release on 17 October 2022. Automotive sensor fusion is becoming more and more popular as advanced driver assistance systems (ADAS) technology advances in the automotive industry. This technology combines data from various sensors, including cameras, radar, and lidar, to precisely and acc...
    Solvay takes over full ownership of Japanese rare earths joint venture
    Belgian chemical company Solvay announced via press release on 10 October that it had taken full ownership of its Japanese rare earths company Solvay Special Chem Japan (SSCJ) that was held jointly with Japanese alloy manufacturing company Santoku.  According to the press release, the facility operated by the JV currently manufactures rare earths applicable for automotive emission control systems, the semiconductor manufacturing processes, and emerging technologies such as solid oxide fu...
    Velodyne Lidar acquires AI software company Bluecity
    Velodyne Lidar has announced in a press release on 4 October 2022, the comapny has acquired Bluecity, a Montreal-based artificial intelligence (AI) software company whose next-generation, lidar-based solutions solve safety, traffic, and infrastructure issues. The company said that all-stock purchase highlights Velodyne's dedication to helping customers succeed by offering AI-driven autonomous vision solutions. The addition of Bluecity is expected to be immaterial to operating expenses and cas...
    Bosch plans to acquire radio frequency specialist ItoM
    According to Bosch’s press release announcement on 22 September 2022, Bosch has planned to acquire the Netherlands-based radio frequency specialist ItoM. Bosch is growing its team of ‘System on chip’ (SoC) specialists. SoC, or special semiconductors, are being employed more often in the control systems for the automobile sector. The technology company seeks to bolster its development competence for high-frequency processing SoC with the anticipated purchase of Semiconductor Ideas to the...
    Samvardhana Motherson to acquire Japan-based Ichikoh Industries’ mirror business
    Samvardhana Motherson Automotive Systems Group BV (SMRPBV) has announced via press release on 26 September that it acquired Japan-based Ichikoh Industries’ mirror business for JPY5.2 billion (USD36.25 million).   Mr. Vivek Chaand Sehgal, chairman, Motherson said, “Inorganic growth is an integral part of our Vision 2025. With this acquisition, Motherson will acquire design and manufacturing footprint in Japan enabling closer coordination and stronger relationship with Japanese custome...
    MapmyIndia acquires stake in trip planner startup kogo to develop automotive navigation
    Digital maps provider MapmyIndia is set to acquire 26.37% stake in travel startup kogo Tech Labs to develop a travel and hyper-local platform integrated with maps and navigation for automotive companies, Economic Times reported on 21 September. MapmyIndia has invested USD1.25 million in kogo and has the option to raise the stake to 50% in two years. “There is a lot more planned as part of the partnership for the future, that will also deliver integration solutions and apps to consumers, the...
    KPIT acquires automotive software company Technica Engineering
    KPIT Technologies has announced the acquisition of Technica Engineering, it said in a press release on 21 September. The deal is expected to close by the end of October 2022, following which Technica Engineering will be fully owned by KPIT Technologies. The deal will be EPS accretive. “Mobility industry is using software to drive innovation and is creating a post-vehicle sale business model driven by delivering services to end consumers. We are constantly looking for possibilities to help a...
    BorgWarner to acquire EV charging solutions company Hubei Surpass Sun Electric
    Michigan-based global supplier of powertrain systems and electric mobility solutions BorgWarner has acquired China-based EV charging solutions provider Hubei Surpass Sun Electric (SSE) for CNY410 million (USD58.44 million), the company announced on 20 September 2022. “The company has entered into an equity transfer agreement under which it has agreed to acquire the electric vehicle solution, smart grid and smart energy businesses of SSE,” BorgWarner said in a statement Tuesday. The com...
    Lumax Industries acquires Czech Republic-based Damberty Real
    Lumax Industries has announced that it acquired 100% stakes in Czech Republic-based Damberty Real, IIFL reported on 15 September. As a result, Lumax Industries Czech s.r.o. became the company's wholly owned subsidiary. Significance: The acquisition enables Lumax industries to provide/receive services relating to the design and development of new technologies for automotive lighting systems for the company's existing and new clients in Indian and international markets, as well as assistance in...
    Aptiv to acquire 85% equity stake Intercable Automotive Solutions for USD602 million
    According to Aptiv’s press release announcement on 13 September 2022, Aptiv has signed a definitive agreement to acquire an 85% equity stake in Intercable Automotive Solutions, a subsidiary of Intercable S.r.l., for EUR595 million (USD599 million), subject to customary post-closing adjustments. The acquisition is expected to be completed by the end of 2022, subject to regulatory approval and other standard closing conditions. Intercable Automotive will operate as a separate business unit wi...
    HARMAN acquires in-cabin radar sensing developer CAARESYS
    HARMAN International has announced the acquisition of CAARESYS, an Israel-based company founded in 2017 that develops vehicle passenger monitoring systems powered by contactless, low-emission radar, according to a press announcement by HARMAN on 6 September 2022. Building on the company's robust consumer-focused advanced driver assistance system (ADAS) and Digital Cockpit solutions, HARMAN's automotive product portfolio will be strengthened by the in-cabin radar sensor and algorithm solution ...
    Self-driving technology startup Aurora Innovation plans sale to Apple or Microsoft
    According to a report published by Bloomberg on 2 September 2022, the CEO of Aurora Innovation has recently outlined a range of options for the self-driving business to address deteriorating market conditions and partners pushing back timelines, including a potential sale to Apple or Microsoft. In a memo titled "board discussion pre-read", Chris Urmson, cofounder of Aurora Innovations discussed cost savings and suggested options including taking the business private, spinning o...
    Renesas to acquire India-based radar specialist Steradian Semiconductors
    Renesas Electronics has announced that it has entered into a definitive agreement to acquire Steradian Semiconductors Private Limited, a fabless semiconductor company based in Bengaluru, India, that provides 4D imaging radar solutions, in an all-cash transaction, according to a press release on 31 August 2022. Automotive sensor fusion is becoming more and more popular as advanced driver assistance systems (ADAS) technology advances in the automotive industry. This technology combines data fro...
    Neo Performance acquires exploration license for Greenland rare earth minerals project
    Canadian chemical manufacturing company Neo Performance Materials announced via press release on 22 August that it had acquired an exploration license covering the Sarfartoq Carbonatite Complex in southwest Greenland from Canadian mining company Hudson Resources. According to the press release, Hudson will receive a nonrefundable initial cash payment of USD250,000 and an additional USD3.25 million (upon closing) for the Sarfartoq project that reportedly hosts mineral deposits enriched in...
    Schuler acquires Sovema Group to become leading systems supplier of cell manufacturing solutions
    Germany based Schuler Group has acquired the Italian mechanical engineering company Sovema Group as part of its larger corporate strategy to become a leading system supplier in battery cell production for the automotive industry and other sectors, the company announced on 23 August 2022. In a press note issued on Tuesday, Schuler said that together with Sovema, it plans to develop machines and systems that giga factories around the world need for the mass production of lithium-ion (Li-ion) ba...
    Kordsa acquires majority stake in Italian carbon fiber specialist Microtex Composites
    Turkish textile manufacturing company Kordsa announced via a Material Event Disclosure that it had acquired a 60% stake in Italian composites manufacturer Microtex Composites for USD25 million (EUR24.6 million). According to a previous press release, the company stated that acquisition of Microtex Composites will allow the company to add super-luxury automotive and motorsport OEMs its customer portfolio. Significance: Microtex specializes in manufacturing dry and prepeg composite materials...
    Korea’s SK Inc. and SK Energy acquire EV-focused US startup Atom Power for USD150 million
    South Korea’s SK Inc. and SK Energy have acquired the management rights of US startup Atom Power Inc., for USD150 million, the company announced on 18 August 2022. Atom Power, which was set up 2014, developed the solid-state circuit breaker (SSCB), which is controlled by power semiconductors. Atom Power uses the technology in operating EV charging and energy solution businesses in the US. Interestingly, Atom Power’s SSCB technology also takes the role of measuring and collecting electrici...
    Webasto acquires Luxembourg-based glass specialist Carlex
    Webasto has announced that it acquired glass specialist Carlex Glass Luxembourg SA, it said in a press release on 18 August. Commenting on the acquisition, Dr. Holger Engelmann, Chairman of the Management Board of Webasto SE, said, “Investing in our own glass manufacturing facility is an important strategic step for us in strengthening the competitiveness of our top-selling business unit—and consequently of the entire Webasto Group.” According to press release, the site, which previo...
    Wallbox acquires EV charging installation service COIL
    Wallbox has announced that it has acquired COIL, electric vehicle (EV) charging installation service in the US, for an undisclosed amount, according to a company press release on 10 August. Wallbox also expects production to begin in their factory in Arlington, Texas, later in 2022. “We are thrilled to bring the COIL team, their industry expertise and leading installation services into the Wallbox family. This acquisition allows us to further enhance our service offerings to our customers i...
    Covestro sells polymer 3D printing business to Stratasys for USD44 million
    German chemical company Covestro announced via press release on 8 August the divestment of its additive manufacturing business to American-Israeli 3D printing company Stratasys. According to the press release, divestment of the 3D printing business will allow Stratasys to acquire: Covestro’s research and development facilities, production assets and offices in the Netherlands, Germany, the US and China Access to Covestro’s large network of partners globally Products from th...
    Ricardo divests software business unit for USD20.5 million
    Ricardo has announced that it has completed the sale of its software business unit to FOG Software Group, a division of Constellation Software, according to a company press release on 2 August. The maximum cash consideration for the divestment is USD20.5 million. The company will initially receive a cash consideration of USD17.5 million which could increase by USD3 million based on Ricardo Software achieving certain revenue targets in the 12-month period post deal completion. “The divestmen...
    BorgWarner acquires Rhombus Energy Solutions, expands EV charging portfolio
    Michigan-based global supplier of powertrain components and electric mobility solutions, BorgWarner Inc. announced on 3 August 2022 that the company has acquired California-headquartered Rhombus Energy Solutions for USD185 million. “The transaction has an enterprise value of up to USD185 million, which is being funded primarily with cash balances,” the company said in an official statement Wednesday, adding that approximately USD130 million was delivered at closing and up to USD55 million...
    Gentherm Completes acquisition of Alfmeier’s automotive seating business
    Gentherm has announced that it completed the acquisition of automotive business of Alfmeier Präzision SE (Alfmeier), following its announcement on 4 May 2022, according to a press release published by Gentherm on 1 August.    Phil Eyler, Gentherm's president and CEO, said, “This transaction aligns well with global consumer demand for expanded offerings in vehicle passenger comfort. Combining Alfmeier’s technological advancements in physiotherapy with Gentherm’s expertise in t...
    Hyundai Motor considers acquiring South Korea-based lidar startup 42dot
    Hyundai Motor is exploring raising its share in or fully acquiring the South Korea based autonomous mobility platform 42dot Inc. This is the latest indication of Hyundai Motor's growing interest in the rapidly expanding industry, according to a report published by TechCrunch on 1 August 2022. A 42dot representative confirmed that the company is in discussions with Hyundai Motor but cautioned that parameters, such as investment size and deal pricing, hadn't yet been finalized. Hyundai Motor...
    HELLA agrees to sell 33.33% stake in HBPO to Plastic Omnium
    Plastic Omnium has announced in a press release on 28 July that it has signed an agreement with HELLA to acquire remaining 33.33% stake of modules business HBPO GmbH for an equity value of EUR290 million (USD306.70 million) enabling Plastic Omnium with complete ownership.   Laurent Favre, CEO, Compagnie Plastic Omnium SE, said, “The acquisition of the remaining 33.33% of HBPO will allow Plastic Omnium to implement its growth strategy by broadening the range of modules offered. Thanks t...
    USCM to invest in US Critical Metals’ Montana and Idaho rare earths projects
    US Critical Metals Corp. (USCM) announced via press release on 26 July that its wholly owned subsidiary US Energy Metals Corp. will invest in US rare earth projects currently held by US Critical Materials Corp. (Materials Corp). According to the press release, USCM will acquire the right to a 50% equity in US Rare Elements Corp. (USRE), a new entity created to hold a 100% interest in the Sheep Creek Property in Ravalli County, Montana (Sheep and the Lemhi Pass Trail Property in Lemhi County, ...
    Slate acquires majority stake in EV charging infrastructure operator amperio
    Slate Asset Management has announced the acquisition of a majority stake in amperio, a specialist planner and operator of electric vehicle (EV)-charging infrastructure in Germany. In a press release dated 22 July, Slate said that the company created Slate Mobility GmbH & Co. KG as a part of the transaction. The entity will finance and own EV-charging equipment for Slate and potential third parties and receive management services from amperio. “To achieve the German government’s t...
    Renesas acquires AI solutions provider Reality Analytics
    Renesas Electronics has completed the acquisition of Reality Analytics (Reality AI), it said in a press release on 20 July. Reality Analytics develops embedded AI solutions. Following the completion, Reality AI became an indirect wholly owned subsidiary with Renesas now employing Reality AI's team of AI experts and possessing an AIoT research and developmen (R&D) center-of-excellence in Maryland, US. Significance: Though the consideration amount was not disclosed, it was an all-cash ...
    AkzoNobel to acquire Lankwitzer Lackfabrik’s wheel coatings business
    Dutch performance coatings company AkzoNobel announced via press release on 6 July that it had decided to acquire the wheel liquid coatings business of German coatings company Lankwitzer Lackfabrik GmbH. According to the press release, the acquisition would involve Lankwitzer Lackfabrik’s existing coatings facility in Leipzig, Germany and operates laboratories in Germany (Leipzig) and Türkiye. AkzoNobel CEO Michael Friede stated, “Acquiring this attractive business will complement our...
    Allego acquires European high power charging network Mega-E
    Allego N.V., a leading pan-European public electric vehicle (EV) fast-charging operator has acquired the charging network provider Mega-E for EUR33 million (USD33.28 million), Allego said on 11 July 2022. Mega-E, which stands for Metropolitan Greater Areas Electrified, was an initiative led by Allego and other companies with an aim of setting up high power charging stations across Europe. The acquisition of Mega-E will consolidate the latter’s network of EV charging stations into Allego’s...
    Sensata Technologies concludes acquisition of Dynapower for USD580 million
    Sensata Technologies has announced that it has completed the previously announced acquisition of Dynapower Company LLC, a provider of energy storage and power conversion solutions from private equity firm Pfingsten Partners for USD580 million in cash, according to a press release on 13 July 2022. “We are very pleased to bring Dynapower’s leading energy storage and power conversion solutions into Sensata’s portfolio through this acquisition,” said Jeff Cote, CEO and president of Sensat...
    Ganfeng acquires Argentinian Salta province brines for USD962 million
    The Financial Times reported on 12 July that Chinese lithium producer Ganfeng Lithium had agreed to buy Argentina-focused mining group Lithea and its existing lithium assets for USD962 million. According to the press release, the acquisition involves rights to the Pozuelos and Paston Grandes salt lake brines located in the Saltas province in Argentina. Lithea was previously owned by Canadian company LSC Lithium Corporation that in turn was owned by Dutch energy company Pluspetrol Reso...
    Michelin acquires road infrastructure images analysis company RoadBotics
    Michelin has acquired Roadbotics for an undisclosed amount, it said in a press release on 11 July. Roadbotics is a US-based company specialized in road infrastructure images analysis. "This new acquisition is in line with Michelin’s growth strategy around tires. With the acquisition of RoadBotics, Michelin strengthens its expertise in artificial intelligence supporting a smarter and safer mobility. Combining its unique knowledge of tire/vehicle uses, driving behavior analysis and Roadbotics...
    South Korea-based POSCO Group acquires silicon anode startup Tera Technos
    POSCO Group has announced that the company acquired silicon anode materials startup Tera Technos with an investment of KRW47.8 billion (USD36.79 million), Green Car Congress reported on 9 July. According to the report, traditional silicon anode materials degrade owing to volume expansion during charge and discharge cycles, but Tera Technos' silicon oxide (SiOx) is a nano-mixture structure that minimizes volume expansion and fracture, ensuring battery capacity and stability. Additionally, the ...
    Volkswagen concludes Europcar transaction, plans to offer autonomous vehicle rides by 2025
    According to a press release on 5 July, The Volkswagen Group has announced that the Europcar acquisition has been completed. Volkswagen's goal is to use technology and analytics to drive Europcar Mobility Group's transformation into a leader in sustainable mobility. Through its NEW AUTO strategy, the firm will maintain its present alliances while also becoming a cornerstone of Volkswagen's future mobility platform. Europcar Mobility Group's solution will meet a wide range of customers' mobili...
    Owners of Schaeffler Group raise stake in Vitesco Technologies to almost 50%
    The owners of Germany’s Schaeffler Group, the Schaeffler family, has raised their stake in Continental’s former powertrain division Vitesco Technologies AG to just under 50%, MarketWatch reported on 4 July 2022, citing the family’s holding company IHO. According to the report, the Schaeffler family, which controls the automotive components supplier Schaeffler AG, has acquired around 1.6 million shares in Vitesco Technologies, bringing its shareholding to 39.99%, from 35.89% previou...
    Zijin invests USD269 million to acquire a 71% stake in Chinese lithium mining company Houdao
    Chinese company Zijin announced via a stock exchange release on 29 June that it had entered into an equity transfer agreement worth USD269 million (CNY1.8 billion) to acquire a 71.14% stake in Chinese mining company Houdao mining. According to the release, the investment was primarily driven for access by the Xiangyuan Lithium Polymetallic Mine in Dao County, Hunan Province, held currently by Houdao. The mine in question is a large-scale greisen-type low-grade lithium deposit that c...
    Sensata Technologies sells Qinex semiconductor test, thermal business to Boyd
    Sensata Technologies has announced that it has sold its Qinex semiconductor thermal test and control business to Boyd Corporation for total consideration of USD219 million, including a small secondary closing, according to a press release on 1 June 2022. The Qinex division of Sensata produces thermal control products and sockets for semiconductor burn-in tests. In 2012, Sensata's semiconductor interconnect division and Wells-CTI combined to establish the company. Prior to this transaction, Se...
    Schneider Electric acquires EV Connect
    Schneider Electric has acquired electric vehicle (EV) charging solution provider EV Connect for an undisclosed sum, according to a company press release on 21 June. Following the deal, CEO and founder Jordan Ramer will continue to lead EV Connect's operations as a distinct subsidiary along with the current management team. “We are thrilled to partner with Schneider Electric. They not only support our strategic goals, but fully embrace the value of electricity as a transportation fuel manage...
    Meta Materials acquires nanocomposites specialist Optodot for USD48 million
    Canadian nanotechnology research company Meta Materials announced via press release on 17 June that it had signed a definitive agreement to acquire the assets and intellectual property (IP) of American nanocomposites company Optodot. The USD48.5 million acquisition amount comprises of USD3.5 million in cash and USD45 million of META shares of common stock. Optodot specializes in developing high-safety nano-composite ceramic NPORE battery separators for the lithium-ion battery market. Ac...
    Solera bids USD443 million to acquire Australian automotive software company Infomedia
    Solera has bid AUD638.8 million (USD443 million) for Australian automotive software company Infomedia, Reuters reported on 20 June. Being the third company to make a bid, Solera’s AUD1.70 per share in cash offer is lower than Battery Ventures' AUD1.75 per share offer and at par with TA Associates-led consortium's bid. Battery Ventures had earlier bid AUSD657.6 million to acquire Infomedia. Significance: Infomedia provides SaaS solutions to the parts and service sector of the automotive indu...
    Blink Charging acquires SemaConnect for USD200 million
    Blink Charging Company, one of the leading providers of electric vehicle (EV) charging networks in the United States, has signed a definitive agreement to acquire SemaConnect, Inc., a Maryland, US–based EV infrastructure company, for USD200 million, Blink said on 14 June 2022. The acquisition of SemaConnect will add nearly 13,000 EV chargers to Blink’s existing footprint, along with an additional 3,800 site host locations and more than 150,000 registered EV driver members, the compan...
    Inventronics to acquire ams OSRAM’s Digital Systems business in Europe, Asia
    Hangzhou-based Inventronics has announced via press release on 15 June that it concluded an agreement to acquire ams OSRAM’s Digital Systems business in Europe and Asia.   Dr. Gernot Steinlesberger, Head of OSRAM Digital Systems Europe and Asia, said, “We look forward to joining the Inventronics family. Both companies have a deep market knowledge and customer understanding, and that combined with our strong European and Asian presence will enable us to continue to deliver excellent q...
    GM’s BrightDrop acquires technology startup Marain’s AI software to help customer fleet operations
    BrightDrop has entered into an agreement with Marain, a California-based technology startup, to purchase its fleet optimization software, according to a press release on 10 June 2022. BrightDrop will include Marain's artificial intelligence-powered fleet optimization software into its ecosystem of last-mile solutions to assess, forecast, and find multimodal options for fleet clients as they plan their journey to full-fleet electrification. Following the acquisition, Marain cofounders Sco...
    Siemens acquires minority stake in wireless charging technology company WiTricity
    German technology company focused on industry, infrastructure, and transport Siemens AG has acquired a minority stake in US-based wireless electric vehicle (EV) charging technology company WiTricity, Siemens announced on 8 June 2022. It said that it has invested USD25 million in WriTricity without divulging how much stake it has acquired in the latter. “Siemens and WiTricity will work together to drive innovation in the emerging market for wireless EV charging,” Siemens said in a sta...
    Renesas to acquire Reality Analytics to enhance endpoint AI capability
    Renesas Electronics Corporation has announced it has entered into a definitive agreement to acquire Reality Analytics, Inc. (Reality AI), in an all-cash transaction, according to a press release published Renesas on 9 June.   Hidetoshi Shibata, president and CEO of Renesas, said, “The importance and demand of data at the endpoint is increasing at an unprecedented scale. The acquisition of AI technology is an important milestone to address our customers’ emerging requirements for endp...
    Japanese oil company Eneos to buy 6,100 EV chargers operated by NEC Corporation
    Japanese oil company Eneos has acquired the rights to operate about 4,600 electric vehicle (EV) chargers located across commercial facilities from electronics company NEC Corporation, a report published by the Japan-based newspaper The Asahi Shimbun said on 7 June 2022, citing the company announcement. The acquisition is part of Eneos’ larger plan of venturing into the EV charging business and build a network of charging stations across Japan, it said, adding that Eneos’ strategy to shift...
    MinRes acquires 25% interest in MQR’s Australian West Spargoville lithium project
    Australian mining company Marquee Resources (MQR) announced via press release on 2 June that it had entered into a partnership with Mineral Resources Limited (MinRes) regarding the rights to its West Spargoville lithium project (WSP) in Western Australia. According to the press release, the agreement provides MinRes the right to acquire an initial 25% interest in lithium rights in exchange for funding (AUD1 million) USD720,000 for exploration and development activities at the site. Th...
    Shell Malaysia to acquire 50% stake in ParkEasy operator Pixelbyte
    Shell Malaysia has announced a deal to acquire 50% shareholding in Pixelbyte, the company operating ParkEasy, according to a company press release on 3 June. ParkEasy is a mobile application software helping drivers park and offer a pre-booked slot for EV Charging. “Decarbonising Mobility and enabling better services to our customers through digital innovation are core to our Powering Progress strategy. We intend to make investments that will help us serve our customers better through the e...
    Lanxess and Advent to acquire DSM’s Engineering Materials business for USD4 billion
    German specialty chemicals company Lanxess announced via press release on 31 May that it would be partnering with US private equity investment company Advent to form a engineering polymers joint venture (JV) company that will acquire Dutch Corporation DSM’s Engineering Materials business. According to the release, the new JV, held 60:40 between Advent and Lanxess, will acquire the DSM Engineering Materials (DEM) business for USD4 billion (EUR3.7 billion) via equity from Advent and external ...
    Tata Motors acquires Ford’s Sanand factory in Gujarat, India to expand production
    Indian automaker Tata Motors’ subsidiary Tata Passenger Electric Mobility Ltd (TPEML) has signed a tripartite memorandum of understanding (MoU) with Ford India Pvt Ltd (FIPL) and the Government of Gujarat for acquiring the latter’s passenger vehicle manufacturing plant in Sanand, Gujarat, news publication Business Standard reported on 31 May 2022. It said that the acquisition of Ford’s manufacturing unit by Tata Motors would help the automaker expand capacity to make passenger cars as well...
    EV Metals Group acquires Johnson Matthey’s battery materials business, CAMX cathode license for USD63 million
    UK specialty chemicals company Johnson Matthey (JM) announced via a press release on 26 May that it had sold the bulk of its Battery Materials business to Australian materials company EV Metals Group for USD63 million (GBP50 million) in cash. According to the press release, the sale includes: Company assets at the Battery Technology Centre in Oxford A pilot plant in Billingham A research center in Moosburg, Germany A partly constructed site in Konin, Poland Johnson Matthey...
    Britishvolt acquires German battery cell technology company EAS
    Battery cell technology company Britishvolt has signed a sale and purchase agreement with the Monbat Group, which is one of Europe’s leading battery solutions companies, to acquire its subsidiary EAS, Britishvolt announced on 24 May 2022. The agreement values EAS, which is a Nordhausen, Germany-based R&D company focused on high performance battery cells, at EUR36 million (USD38.46 million), it said. “Our 46xx cell format, developed as part of our wider R&D program, gives Britishvo...
    Nano One signs binding agreement to acquire Johnson Matthey Battery Materials Canada
    Canadian battery materials company Nano One Materials Corporation has signed a binding agreement to acquire Johnson Matthey Canadian entity, Johnson Matthey Battery Materials (JMBM Canada) for about CAD10.25 million (close to USD8 million), the London-based multinational company said on 25 May 2022. The acquisition, it said, is fully funded and is on a cash-free, debt-free basis and the transaction is expected to complete by end 2022. According to Johnson Matthey, JMBM Canada employs a team w...
    ABB acquires controlling stake in Indian EV charging platform Numocity
    Zurich-based power equipment company ABB has agreed to acquire a controlling stake in India’s Numocity, a leading startup that has developed digital platform for electric vehicle charging, ABB announced on 25 May 2022. Interestingly, ABB plans to increase its shareholding to a controlling majority of 72 percent from earlier 7 percent and has also secured the right to become the sole owner by 2026. That said, the company has not disclosed financial details of the transaction. Three years ago...
    Austrian supplier Miba acquires majority stake in battery maker Voltlabor
    Austrian supplier Miba has acquired a majority stake in the Mühlviertel-based battery specialist Voltlabor, the company said on 23 May 2022. The newly acquired company will be known as Miba Battery Systems, it added. Voltlabor is known for developing and producing battery systems for a wide range of end-use applications from electric cars and electric motorcycles to buses, autonomous forklifts, electric snow groomers as well as manned drones. Miba Battery Systems is currently building a b...
    Leoni sells automotive cable solutions business group to STARK Corporation
    German automotive wires, cables and wiring system supplier Leoni has signed an agreement with STARK Corporation, a wire and cable supplier headquartered in Bangkok to sell its business group automotive cable solutions, according to an official press release on 23 May 2022. In the fiscal year 2021, the sold activities generated revenues of roughly EUR1.3 billion (USD1.38 billion) and have an enterprise value of EUR560 million. After deducting financial obligations and pension expenditures, the...
    ATC Drivetrain acquires Michigan-based Global Battery Solutions
    Michigan-based ATC Drivetrain, which is a leading independent global remanufacturer of automotive powertrain and drivetrain systems, has acquired Global Battery Solutions (GBS), a supplier of battery life-cycle management and EV component services, the company said on 18 May 2022. Global Battery Solutions (GBS), which too is based in the Michigan area, operates out of a 50,000 square-foot manufacturing facility and shares strong relationships with its OEM customers. According to ATC Drivetrai...
    Lear to acquire seating climate control specialist I.G. Bauerhin
    Lear Corporation has announced via press release that it entered into a definitive agreement to acquire seating climate control specialist I.G. Bauerhin (IGB) for EUR140 million (USD147.49 million), according to a press release published by Lear Corporation on 20 May.   Lear President and CEO Ray Scott, said, “The acquisition of IGB furthers Lear’s vertical integration strategy and advances our vision of being the leading provider of innovative thermal comfort solutions. Combining Le...
    Indian supplier Endurance Technologies acquires BMS company Maxwell Energy Systems
    India-based tier-1 automotive component supplier Endurance Technologies has entered into an agreement with ION Energy Inc. (ION) for acquisition of 100% stake in Maxwell Energy Systems Private Limited, the company said in a regulatory announcement on 18 May 2022. Maxwell Energy Systems, ION'S advanced electronics subsidiary, is known for developing embedded electronics, particularly battery management systems for vehicles, including electric vehicles (EVs) and for stationary storage systems. ...
    Lear Corporation acquires seating materials company Thagora Technology
    Lear Corporation has announced its acquisition of Romania-based seating materials specialist Thagora Technology SRL, according to a press release published by Lear Corporation on 19 May.   Frank Orsini, Lear executive vice president and president, Seating, said, “Thagora offers Lear access to scalable, smart-manufacturing tools that will be a valuable addition to our business. We welcome Thagora’s talented employees to the Lear family. Together, we share the same profession...
    Antin infrastructure to invest in European EV charging points operator Power Dot
    Antin Infrastructure Partners has announced that it signed an investment agreement with Power Dot, Arié Group and other current shareholders to acquire a controlling stake in electric vehicle (EV) charging operator Power Dot, according to a press release published by Antin on 18 May. Nicolas Mallet, NextGen Partner at Antin, said, “Power Dot is exactly the sort of company that we envision for our NextGen strategy. Antin has always been at the forefront of identifying long-term market trend...
    Steel Dynamics acquires Mexican recycling company ROCA
    US steel manufacturer Steel Dynamics announced via press release on 16 May that it had entered into a definitive agreement to acquire Mexican ferrous and nonferrous scrap metals recycling company ROCA. According to the press release, the acquisition will allow Steel Dynamics to acquire 4 scrap processing facilities (with a total annual processing capability of 850,000 tons and shipment capacity of 575,000 tons) strategically positioned near high-volume industrial scrap sources located through...
    Northern Graphite acquires natural graphite mines in Quebec and Namibia
    North American mining company Northern Graphite announced via press release on 2 May that it had closed its acquisition of the Lac des Iles graphite mine (“LDI”) in Quebec and the Okanjande graphite deposit/Okorusu processing plant in Namibia. According to the press release, the company purchased the Quebec mine from a subsidiary of French mining company Imerys SA and the Namibia site from a subsidiary of Imerys and its joint venture partner. According to Norther Graphite, the acquisit...
    Gentherm to acquire Alfmeier’s automotive seating business
    Gentherm has announced via press release on 4 May it entered into a definitive purchase agreement to acquire automotive seating business of Alfmeier Präzision SE (Alfmeier) for EUR177.5 million (USD186.69 million). Gentherm expects to achieve around USD10 million in annual run-rate cost savings in addition to revenue synergies, press release added. Andreas Gebhardt, CEO of Alfmeier, said, “I am excited to see the combination of two unique system design companies with integrated hardware...
    Plastic Omnium acquires Varroc’s automotive lighting business
    Plastic Omnium has acquired Varroc’s automotive lighting business, Varroc Lighting Systems (VLS) for EUR600 million (USD635.43 million), according to a press release published by Plastic Omnium on 29 April. The transaction includes 100% ownership of VLS’ companies in Europe, Americas, and North Africa and research and development (R&D) center in Pune, India, press release added.   Laurent Favre, CEO of Plastic Omnium said, “With Varroc Lighting Systems, Plastic Omnium become...
    Blink Charging acquires UK’s EB Charging, consolidates global footprint
    US-based electric vehicle (EV) charging network provider Blink Charging Company announced on 26 April 2022 that its wholly owned subsidiary in Europe, Blink Holdings BV, has acquired UK’s Electric Blue Ltd. (also known as EB Charging). EB Charging is a provider of integrated EV charging and sustainable energy-based solutions. It is to be noted that with the said acquisition of EB Charging, Blink Charging has not only marked its official entry in the United Kingdom but has also consolidat...
    Prospect sells stake in Arcadia lithium project to battery materials producer Huayou
    Australian battery minerals company Prospect Resources announced via press release on 20 April that it had sold its 87% interest in the Arcadia Lithium Project in Zimbabwe to a subsidiary of mainland Chinese lithium-ion (Li-ion) battery materials producer Zhejiang Huayou Cobalt. According to the press release, the transaction involves a cash transfer of approximately USD343 million after a payment of USD27 million as capital gains tax and USD8 million to mainland Chinese mining services compa...
    ArcelorMittal acquires 80% stake in Voestalpine’s USD1billion steel pre-material plant in Texas
    Luxembourg-based steel company ArcelorMittal announced via press release on 14 April that it had signed an agreement to acquire an 80% shareholding in Austrian steel manufacturer voestalpine’s Hot Briquetted Iron (HBI) plant located in Corpus Christi, Texas, US. According to the press release, the transaction values the state-of-the-art plant, with an annual capacity of 2 million tons of HBI, a feedstock used in steel furnaces, at USD1 billion. Taking into account the expected debt developm...
    Bosch to acquire self-driving startup FIVE to advance software development for autonomous driving
    Bosch has announced that the company has signed an agreement at the beginning of April to acquire self-driving car startup Five to strengthen its software development for automated driving systems, according to Bosch’s press release on 12 April 2022. The company has not disclosed the financial details of the acquisition. The company press release said that both companies share a common vision of automated driving and of safe automated driving systems. The software building blocks in Bo...
    Automotive software company CARIAD acquires mobility startup Voya
    Volkswagen’s software unit CARIAD has acquired travel technology startup Voya, it said in a press release on 1 April. Financial details of the deal were not disclosed. Voya offers a digital end-to-end platform that companies can use for the entire business trip process. Significance: CARIAD is especially interested in Voya's technology stack and the field of expertise of its employees. CARIAD will look to strengthen the end-to-end model which allows users to plan trips with various differen...
    Volkswagen unit CARIAD to acquire Intenta’s automotive division
    Volkswagen’s software unit CARIAD is set to acquire the automotive division of Intenta, it said in a press release on 8 April. The unit will take in more than 100 employees working on sensor data fusion. The acquisition is expected to be completed toward the end of 2022. “Our goal is to develop key software components ourselves and increase the depth of value added in key development areas. That's why we are expanding our expertise along the entire tech stack for automated driving. O...
    Kongsberg Automotive concludes sale light duty cables business to Suprajit Engineering
    Kongsberg Automotive has completed the sale of its Light Duty Cables (LDC) business unit to line cable manufacturer, Suprajit Engineering Limited, according to a press release on 6 April 2022. In October 2021, Kongsberg Automotive and Suprajit entered into a definitive agreement, and the deal closed on 6 April 2022 for EUR37.7 million (USD41.4 million). The LDC business unit of the company specializes in developing, manufacturing, and selling mechanical and electro-mechanical light-duty cable...
    Qualcomm completes acquisition of Arriver business from SSW Partners
    Qualcomm Technologies has completed the acquisition of Arriver from US-based investment partnership SSW Partners, according to Qualcomm’s official press release on 4 April 2022. The company said that the acquisition would enhance Qualcomm Technologies’ ability to deliver open, fully integrated, and competitive advanced driver assistance system (ADAS) solutions to automakers and tier-1 suppliers at scale. Additionally, Veoneer and Qualcomm Technologies have entered into a new agreement tha...
    PPG acquires Italian powder coatings company Arsonsisi
    US specialty chemicals company PPG announced via press release on 1 April that it had completed its acquisition of Italian powder coatings manufacturing business, Arsonsisi. According to the press release, PPG will gain a highly automated, small- and large-batch capable, powder manufacturing plant in Verbania and metallic bonding capabilities in the Europe, Middle East, and Africa (EMEA) region through the acquisition. Significance: Arsonsisi’s powder business had sales of approximately ...
    NI gains EV testing capability by acquiring Kratzer Automation’s systems testing business
    US automated test equipment company NI announced via press release on 31 March that it had entered into a definitive agreement to acquire Kratzer Automation’s systems testing business to strengthen its electric vehicle (EV) testing capabilities. Through the acquisition, NI will be able to test all mission critical components of EVs including battery, inverter, and engine control. Drita Roggenbuck, NI Sr. VP and general manager, Transportation, said, “The addition of the products, servi...
    BorgWarner concludes acquisition of China’s Santroll Automotive Components
    Michigan-based global supplier of powertrain technologies and electric mobility solutions BorgWarner has completed its acquisition of China’s Santroll Automotive Components, the company updated on 1 April 2022. Notably, Santroll Automotive Components is a unit of Santroll’s eMotor business, which is a Tianjin, China-based powertrain supplier. The company designs and manufactures hairpin and concentrated-winding technology eMotors that are used in the light vehicles. Santroll supplies its ...
    SSW Partners completes acquisition of auto part supplier Veoneer
    The US-based investment partnership SSW Partners has concluded the acquisition of automotive parts supplier Veoneer for USD37 per share in an all-cash transaction of USD4.6 billion worth of equity, according to a press release on 1 April 2022. Veoneer's Arriver company is expected to be sold to Qualcomm, while Veoneer's tier-1 supplier and integrator businesses will be retained by SSW Partners. The sale of the Arriver business by Qualcomm and SSW Partners is expected to close on 4 April ...
    Ascend Performance acquires Indian engineering plastics manufacturer Formulated Polymers
    US synthetics manufacturing company Ascend Performance Materials announced via press release on 29 March that it had reached an agreement to acquire the compounding division of Indian engineered materials producer Formulated Polymers Limited (FPL). According to the press release, the deal, intended to expand Ascend’s footprint into the Indian subcontinent, includes FPL’s facility in Chennai as well as warehouses throughout India. Ascend’s president and CEO, Phil McDivitt, stated, “...
    Linamar takes over GF’s 50% share in US die-casting JV
    Canadian manufacturing company Linamar Corporation announced via press release on 31 March that it will be acquiring GF Casting Solution’s (GF) 50% interest in their joint venture, GF Linamar LLC, located in Mills River, North Carolina. According to the press release, Linamar will now assume 100% ownership of the business and full operational control of the facility. Linamar stated that following the transaction, the joint venture (JV) facility will undergo a rebranding name change and b...
    Plastic Omnium to acquire ACTIA Power, invests USD22 million in battery startup Verkor
    French automotive supplier Plastic Omnium announced on 29 March 2022 that it has entered into exclusive negotiations with ACTIA Group to acquire its ACTIA Power division, which specializes in the design and production of batteries, power electronics and electrification systems for electric vehicles (EVs). While Plastic Omnium did not disclose the investment it has earmarked to acquire ACTIA Power, it said that it aims to build a complete range of energy management solutions for all types of engi...
    SEMIKRON, Danfoss Silicon Power merger to focus on power electronics business
    SEMIKRON and Danfoss Silicon Power have announced a merger to form a Power Electronics business focused on power semiconductor modules. The company said that electricity will be the most essential energy source in the future. All power electronic solutions are built around the power semiconductor module. Power semiconductors are used to construct the module, which allows it to convert and control electrical power. The current owner-families of SEMIKRON and the Danfoss Group will own the ne...
    Luokung Technology acquires big data company Beijing Hongda Jiutong in China
    Luokung Technology, a leading Spatial-Temporal intelligent big data services company and provider of interactive location-based services and High Definition (HD) maps in China, announced the signing of an agreement to acquire Beijing Zhong Chuan Shi Xun Technology Limited, according to a press release published by Luokung on 29 March. The collaboration will strengthen data management system by leveraging on Hongda Jiutong's technological capabilities and Luokung's spatial-temporal big data pr...
    Otonomo to acquire connected insurance tech firm The Floow
    Otonomo Technologies has announced an agreement to acquire The Floow in a cash and stock deal worth about USD69 million, including a performance based earnout of up to USD37.5 million, a company press release dated 28 February read. The Floow offers Software-as-a-service (SaaS) for connected insurance technology. Floow’s vehicle insurance tools will be integrated with Otonomo’s mobility intelligence platform based on vehicle data. The companies will offer connected insurance sol...
    Indian supplier Minda Industries acquires 100% stake in Harita Fehrer
    Indian automotive supplier Minda Corporation Ltd has acquired the remaining 49% equity stake in Harita Fehrer from F.S. Fehrer Automotive GmbH, the company said in a regulatory filing on 25 March. The transaction enables Minda Corp. to hold 100% stake of Harita Fehrer Ltd. Minda Industries though the acquisition will provide full-fledged interior seating solutions portfolio to support its global customers. The supplier specializes in manufacturing of PolyUrethane (PU) foam pads, seats, PU co...
    loading
    preload preload preload preload preload preload