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    The game of tariffs: US moves to stifle EV battery imports from mainland China
    The openness of international markets, amplified by the acceleration in globalization over the past few decades, is usurped by the creeping return of protectionism. Nothing illustrates this trend better than the ongoing tug of war over electric vehicles (EVs) and their related supply chains. Policymakers in the US and European Union are rattled by the ambitions of mainland Chinese companies to expand exports of low-cost EV and EV parts, forcing them to announce new policies and reconsider import...
    Tesla’s wild ride: From headlines to headscratchers and what it means for full self-driving
    “A riddle wrapped in a mystery inside an enigma,” Winston Churchill’s famous soundbite at the beginning of World War II has been applied to many a discourse or course of events since it was first uttered. Its ultimate use case, to use the current vernacular, could never be more apt than unpicking Tesla’s strategy and tactics or the actions and pronouncements of its CEO Elon Musk.  While Tesla still generates reams of press coverage, the tone has shifted, and it has slipped away f...
    Lumileds agrees to divest Lamps and Accessories business for $238 million
    Lumileds has agreed to sell its Lamps and Accessories business to First Brands Group, an international automotive parts manufacturer, for $238 million. First Brands will continue to broaden its global services and establish its products and brands in the automotive accessories sector. The sale is expected to be completed in the second quarter of 2024. Lumileds will transfer its automotive lamp factories in mainland China, Germany and Poland with the Lamps and Accessories business to the ...
    Munich-based Qwello acquires Dutch charge-point operator Park & Charge
    Munich-based electric vehicle charging infrastructure company Qwello has acquired Dutch charge-point operator (CPO) Park & Charge, which was established in 2016 and is active in about 200 municipalities in the Netherlands, according to a news report published by Electrive on May 13. The report said that post-acquisition, Qwello will manage more than 12,000 EV charging points installed in 300 municipalities across seven countries in Europe. It further said that Park & Charge’s existi...
    Quest Global acquires majority stake in People Tech Group
    Quest Global has acquired a majority stake in People Tech Group, it said in a press release dated May 7. The partnership will expand Quest Global's footprint in North America within the automotive and hi-tech industries. People Tech brings extensive expertise in digital transformation for software-defined vehicles (SDVs), architecture, design, development, and testing of human-machine interface (HMI) and applications for infotainment systems and instrument clusters, as well as software...
    Sogefi to close sale of its Filtration business unit to Pacific Avenue Capital Partners by end-May
    Milan-based supplier of air management, engine cooling and suspension systems Sogefi Group expects to close the sale of its Filtration business unit to the US private equity fund Pacific Avenue Capital Partners by the end of May, the company said May 6. Providing an update on the transaction, the company said that the sale and purchase agreement has already been agreed upon between both the parties and will be executed in the upcoming days. In a press note issued, Sogefi said that it has a...
    ICAP Group acquires Valeo's Ferentino site
    Valeo and ICAP Group have signed an agreement to take over Ferentino Automotive Transition Srl in Italy, according to a press release dated May 7. ICAP Group will acquire Ferentino Automotive Transition, the Valeo subsidiary that owns the Ferentino site. This move is part of ICAP Group's plan to expand its presence in the growing industry of sustainable collective mobility, where it is already a key player with its subsidiary Tecnobus, an Italian manufacturer of electric minibuses. “We are ...
    Craftsman to acquire remaining 24% stake in DR Axion India Pvt. Ltd.
    Craftsman Automation Ltd., an Indian manufacturer of machined powertrain components, has announced the acquisition of the remaining 24% stake in DR Axion India Pvt. Ltd. (DRAIPL), a subsidiary it acquired 76% of in February 2023. The acquisition is expected to be completed by June 30, 2024. The move aims to strengthen Craftsman's presence in the passenger vehicle segment and enter the e-mobility solutions market through process synergies, access to DRAIPL's customer base and technological col...
    Forvia completes acquisition of Faurecia Aptoide Automotive
    Forvia has completed the acquisition of the remaining 50% shares from Aptoide in the joint venture Faurecia Aptoide Automotive (FAA), it said in a press release dated May 2. Forvia assumes full ownership of the 2019-established JV. The FAA Apps Market Platform provides security, privacy, flexibility and content control, with the option to customize its look and feel, as well as the apps portfolio. All the apps offered by FAA are tested and validated for automotive purposes. Notable apps offer...
    KPIT completes acquisition of auto software company PathPartner
    KPIT has announced it completed the acquisition of PathPartner Technology, according to a company press release dated April 19. PathPartner offers design, service and solution for operating system software and low-level software for automotive, camera, radar and multimedia devices. The cost of acquisition of 100% stake of PathPartner is about 1.91 billion rupees (about $22.9 million). With extensive expertise in embedded operating systems, low-level processor architectures, hardware-accelerat...
    Solero Technologies acquires Kendrion's automotive business in Europe and US
    Atar Capital has announced that Solero Technologies has signed an agreement to acquire Kendrion's automotive business in Europe and the US, in a press release dated April 15. The transaction, which is expected to close in the third quarter of 2024, is valued at about $70 million and includes trailing 12 months (TTM) EBITDA of approximately $24.1 million, representing approximately 80% of Kendrion's Automotive business. Solero Technologies will effectuate the transaction with support from Atar Ca...
    Microchip acquires advanced driver assistance system and digital cockpit connectivity company VSI
    Microchip Technology has announced the completed acquisition of Seoul, South Korea-based VSI Co. Ltd., a provider of high-speed, asymmetric, camera, sensor and display connectivity technologies and products based on the Automotive SerDes Alliance (ASA) open standard for in-vehicle networking (IVN). The terms of the transaction are not disclosed, as reported in a press release on April 11.  “This acquisition brings VSI’s knowledgeable team, their market traction and ASA Motion Link [A...
    Continental acquires EMT, strengthening tire-mold production capabilities
    Continental, a leading tire manufacturer, has acquired EMT s.r.o., a mold manufacturing specialist based in Puchov, Slovakia. The acquisition was completed on April 2, with all shares of EMT being transferred to Continental. The agreement was reached with EMT's shareholders, with Dynamic Design (Romania) being the majority shareholder, a company press release dated April 8 said. All 107 employees of EMT, who possess specialist knowledge in mold manufacturing, have been taken on by Continental...
    Betamek acquires Sanshin to expand its automotive electronics portfolio
    Betamek Bhd. has entered into a share purchase agreement with Outsourcing Inc. to acquire Sanshin (Malaysia) Sdn. Bhd. for a cash consideration set at RM13.4 million (about $2.8 million), it said in a press release on April 1. Sanshin manufactures car audios and other electronics components, serving markets in Malaysia, Japan, Hong Kong and Thailand. This acquisition will position Sanshin as a wholly-owned subsidiary of Betamek, expanding Betamek's customer base. The acquisition wil...
    Mahle and Forvia Hella complete the sale of their shares in JV BHTC
    Mahle Behr GmbH & Co. KG, a subsidiary of Mahle Group (Mahle), and Hella GmbH & Co. KGaA (Forvia Hella) completed the sale of their respective 50% stake in the joint venture Behr-Hella Thermocontrol (BHTC) to AUO Corp., the company said in a press release on April 2. The parties had signed an agreement to sell the shares on Oct. 2, 2023; the transaction has now been approved by the relevant authorities. The total purchase price is based on an enterprise value of €600 million. ...
    Toyota Boshoku accepts investment for TB Kawashima to strengthen automotive seat fabric business
    Toyota Boshoku Corp. has announced that it will accept a capital investment from Aunde Achter & Ebels GmbH in its consolidated subsidiary, TB Kawashima Co. Ltd., in a press release dated March 28. As a result, Toyota Boshoku's voting rights ratio in TB Kawashima will decrease to 20%, and TB Kawashima will become an equity method affiliate company. The investment is expected to strengthen TB Kawashima's competitiveness and enhance its new product development capabilities. Aunde, which has ...
    ZF Rane Automotive India acquires TRW Sun Steering Wheels to expand safety capabilities
    ZF Rane Automotive India, a joint venture between ZF Group and Rane Group, has acquired 100% of TRW Sun Steering Wheels (TSSW), a steering wheel manufacturer based in Gurugram, India. With this acquisition, ZF Rane Automotive India aims to expand its capabilities and provide comprehensive solutions for occupant safety and system integration services to its domestic customers. The acquisition will also strategically strengthen the company's position in west and north India. Harish Lakshman, vi...
    Panasonic plans to sell Automotive Business to Apollo Global-managed funds
    Japan's Panasonic Holdings said it will sell its entire stake in Panasonic Automotive Systems (PAS) to funds managed by US private equity firm Apollo Global Management, and then make an investment in the new holding entity, US News reported March 29, quoting a Reuters report. The transaction has a total enterprise value of ¥311 billion (about $2.06 billion), subject to adjustments at closing, which is expected by the end of the first quarter of 2025, Apollo said in a statement. Panasonic ...
    Siemens to acquire industrial drive technology business of ebm-papst
    According to a press release on March 21, Siemens has agreed to acquire the IDT portfolio of ebm-papst, a German company specializing in industrial drive technology. The acquisition is expected to generate significant business potential in the areas of flexible and autonomous factory automation, with the integration of IDT's portfolio into Siemens' existing automation portfolio. The transaction is subject to foreign trade and merger control approvals and is expected to be completed by mid-2025. ...
    Maruti Suzuki to acquire 6.44% stake in startup Amlgo Labs
    Maruti Suzuki India has agreed to acquire an equity stake of 6.44% in Amlgo Labs, a technology-led startup. The Amlgo Labs is a fast-growing data solutions company providing end-to-end Technical Implementation/Advisory and support for Analytics, cloud, engineering, ML/AI &' and reporting solutions. The company plans to invest in Amlgo Labs' equity shares to enhance its data-driven decision-making and customer offerings. Amlgo Labs will allot 689 equity shares of Rs 10 each, at a premium o...
    Naxnova acquires Quad Industries Belgium to expand its market presence and offerings
    Naxnova, a design and technology company, has acquired Quad Industries Belgium, a leading player in the printed electronics sector, for rupees 0.9 billion ($10.08 million). This acquisition marks a strategic move for Naxnova as it expands its market presence and solidifies its offering. Quad Industries Belgium develops and manufactures user interfaces and other printed solutions for various sectors, including medical, wearables, consumer goods, and automotive. The acquisition brings together ...
    Rheinmetall acquires Dutch startup REEQ
    Rheinmetall AG, a leading German supplier of automotive components and technologies, has acquired the Dutch startup REEQ, thereby expanding its vehicle portfolio to include innovative light hybrid vehicles, the company announced on March 18. “At the beginning of March 2024, the technology group's Dutch subsidiary Rheinmetall Defence Nederland B.V., which is part of the Vehicle Systems Division, acquired 100% of the shares in the Dutch start-up REEQ,” the company said, adding that the stra...
    Synopsys expands semiconductor IP portfolio with acquisition of Intrinsic ID
    Synopsys has acquired Intrinsic ID, a provider of Physical Unclonable Function (PUF) IP. The acquisition adds PUF IP to Synopsys' broad semiconductor IP portfolio, enabling designers to protect their systems-on-chips (SoCs) by generating a unique identifier on chip using the inherent and distinctive characteristics of every silicon chip, according to a March 20 press release. "In our increasingly connected world, chip designers are integrating PUF technology in their SoCs for many application...
    Samvardhana Motherson’s unit MSSL Mideast to acquire Yachiyo India Manufacturing
    On March 19, Samvardhana Motherson International Ltd. announced that its subsidiary MSSL Mideast (FZE) will acquire 100% of Yachiyo’s Indian unit, Yachiyo India Manufacturing Pvt. Ltd. Subject to completion of other ongoing conditions precedents for the transaction, the closing is now expected to be completed within March. The current transaction is part of an existing agreement between Motherson and Honda Motor. In July 2023, Samvardhana Motherson entered into an agreement to acquire 81% s...
    Schaeffler, Vitesco Technologies to merge in $1.6 billion deal
    Schaeffler AG and Vitesco Technologies Group AG have signed a merger agreement, following approval by their respective supervisory boards. The agreement sets out the legally binding terms and conditions for the merger of Vitesco into Schaeffler. The exchange ratio of 11.4 Schaeffler shares per Vitesco share has been confirmed as binding, with Vitesco shareholders receiving 11.4 Schaeffler shares for each Vitesco share they own. The merger agreement is subject to the approval of the respective...
    Miovision acquires TTS to enhance traffic flow and safety
    Miovision, a company that provides scalable intelligent transportation solutions, has acquired Traffic Technology Services (TTS), a provider of connected vehicle technologies, it said in a press release dated March 4. TTS offers a patented technology that provides real-time "situational awareness" to drivers through their vehicle's instrument panel, helping them optimize their speed to avoid red lights and reduce fuel consumption. With this acquisition, Miovision gains access to TTS's 11 pate...
    Vector acquires majority stake in AI and camera-sensor tech firm Eyyes
    According to a press release on March 4, Vector has acquired a majority stake in Eyyes GmbH, an Austrian company specializing in AI and camera-sensor technology. Eyyes employs 28 people in Austria and Germany, and is engaged in the field of driver assistance functions and traffic perception with AI based on camera sensors. The company offers warning systems for front collision, approach, reversing, rear-end and turn-off warning as assistance systems, and its products are used in the rail sect...
    American Industrial Partners Capital Fund VII completes acquisition of Veoneer
    Veoneer announced that the American Industrial Partners Capital Fund VII (AIP Fund VII) has completed the acquisition of the company’s Restraint Control Systems business from SSW Partners LP, in a press release dated March 1. According to the press release, nearly one in every four cars over the past year was equipped with Veoneer's Restraint Control System products, offering protection to vehicle occupants in the event of a traffic accident. The transaction completes Veoneer’s ...
    Karma acquires Airbiquity's tech assets to boost software-defined vehicle capabilities
    Karma Automotive, an ultraluxury vehicle manufacturer based in Irvine, Calif., has acquired the technology assets and intellectual property (IP) of Airbiquity, a Seattle-based software company specializing in connected vehicle solutions. The acquisition includes key technical employees and significant original equipment manufacturer contracts, and will enable Karma to align its internal resources and increase its focus on software-defined vehicles. Karma President Marques McCammon stated that...
    Mercedes-Benz sells stake in Russian truck-maker Kamaz
    Mercedes-Benz Group has sold its stake in Russia's largest truck-maker, Kamaz. The German carmaker, which did not disclose the price of the transaction or the buyer, said the deal was completed in February after securing all necessary regulatory approvals, Reuters reported on Feb. 15. Mercedes-Benz AG, which at the time was Daimler AG, took over a 15% stake in Kamaz from Daimler Truck in September 2021 with a view to return it to Daimler Truck after the truck-maker was spun off from the ...
    Renesas to acquire Altium for US$5.9 billion, expanding auto design capabilities
    Renesas Electronics, a Japanese electronics company, has announced its plan to acquire Altium, an Australian-based electronics design firm, for US$5.9 billion in cash, as reported by Reuters on Feb. 15. The acquisition is expected to enhance Renesas' ability to offer digital device design to its customers, particularly in the automotive industry. Renesas proposed to pay A$68.50 per Altium share, marking a 34% premium over Feb. 14's closing price. The financing will be sourced from existing cash ...
    Webasto divests its EV charging business to focus on core business areas
    German automotive component supplier Webasto announced Feb. 9 that Los Angeles–headquartered Transom Capital Group will acquire a majority stake in its EV charging solutions business, as part of Webasto’s divestment plan to focus on its core business areas. That said, Webasto said that it, however, plans to remain a minority shareholder in the EV charging business solutions division. The two companies signed a corresponding purchase agreement Feb. 7, Webasto said in its press note. ...
    Rane Group announces merger of Rane Brake Lining Ltd. and Rane Engine Valve Ltd. into Rane
    Top Indian automotive supplier Rane Group has decided to merge two of its listed companies – Rane Brake Lining and Rane Engine Valve — with its other listed company, Rane (Madras). The proposed reorganisation will bring all operating business subsidiaries under one single company, and it will create a larger company with a combined turnover of rupees 33.73 billion for the trailing 12 months period ended December 31, 2023 (January-December 2023) on a proforma basis, business daily the Hindu B...
    Epsilon Advanced Materials completes acquisition of LFP cathode technology center in Germany
    Mumbai, India-based lithium-ion (Li-ion) battery materials company Epsilon Advanced Materials (EAM) has finalized the acquisition of Johnson Matthey’s lithium iron phosphate (LFP) cathode active material (CAM) technology center in Moosburg, Germany, it announced Feb. 2. It said that the move makes it the first global company capable of providing manufacturers with both cathode and anode materials for Li-ion batteries. Moreover, it claimed that it is poised to make India the first country in...
    TotalEnergies acquires Wenea Group’s EV charging business in Spain
    French energy major TotalEnergies has acquired Wenea Group’s electric vehicle charging stations in Spain as part of an agreement to develop high-power EV charging hubs and become a leading charge point operator (CPO) in the region, the company announced Jan. 30. Notably, Wenea group owns and operates 200 EV charging sites in Spain, with all of them located along major highways, and in urban and peri-urban areas. The said EV charging sites draw renewable power, it added. TotalEnergies and...
    Hitachi Energy completes acquisition of EV charging equipment-maker COET
    Hitachi Energy announced Jan. 10 that it has completed the acquisition of COET, a leading designer and manufacturer of power equipment for electric mobility, and other industries. Hitachi Energy said that the said acquisition was completed on Dec. 28, 2023, following a regulatory approval of the purchase agreement announced earlier in August 2023. Hitachi Energy and COET, a Milan-based company, have had a long-standing collaboration focused on Hitachi Energy’s portfolio of Grid-eMotion high...
    Stellantis acquires CloudMade to enable vehicle software development
    Stellantis NV announced the acquisition of the AI framework, machine-learning models, and intellectual property rights and patents of CloudMade, a developer of smart and innovative big data-driven automotive solutions. The automaker said in a Jan. 25 press release that the acquisition — as an asset deal — will support the mid-term development of STLA SmartCockpit and reinforce Stellantis’ software strategy outlined in Dare Forward 2030. The AI-powered framework created by CloudMade, ...
    Ansys acquires minority stake in Humanetics to enhance human-safety engineering ecosystem
    Humanetics and Ansys have entered into a definitive agreement whereby Ansys will acquire a minority stake in Humanetics. The transaction is subject to regulatory approvals and is part of an existing partnership between the two companies, as read in a press release on Jan. 23. Humanetics is a leading provider of physical and digital human-safety systems and sensor technologies, including anthropomorphic test devices (ATDs) and innovative ergonomics software solutions. Ansys, a global private e...
    Sumitomo Rubber invests in Viaduct for AI-powered fleet management solutions
    Sumitomo Rubber Industries has invested in Viaduct, a US-based AI-powered connected vehicle analytics company, to develop total fleet management solutions, according to a press release on Jan. 10. The partnership aims to enhance on-the-road safety, increase vehicle availability and reduce maintenance costs through the combination of Viaduct's AI-based vehicle health solution and Sumitomo Rubber's proprietary sensorless sensing technology. The joint proof-of-concept has already started, and...
    ABB acquires R&D engineering firm Meshmind to advance AI and software-driven automation
    Tech leader of electrification and automation ABB announced on Jan. 18 that it has agreed to acquire a majority of software service provider Meshmind to expand its research and development capabilities in AI, industrial internet of things and machine vision. Through this acquisition, ABB will integrate engineering talent, AI and software knowledge to form a new global R&D hub to further accelerate the development of innovative automation solutions within its Machine Automation divi...
    Synopsys to buy Ansys to emerge as a leader in silicon to systems design solutions
    In a mega merger announcement, two large firms Synopsys and Ansys announced that they have entered into a definitive agreement under which Synopsys will acquire Ansys. Under the terms of the agreement, Ansys shareholders will receive $197.00 in cash and 0.3450 shares of Synopsys common stock for each Ansys share, representing an enterprise value of approximately $35 billion based on the closing price of Synopsys common stock on Dec. 21, 2023. Bringing together Synopsys' pioneering semiconduct...
    Siemens AG completes acquisition of DC fast-charging solutions company Heliox
    Siemens AG has completed the acquisition of DC fast-charging solutions company Heliox, the German technology major announced Jan. 11. Siemens has acquired Heliox from private equity firm Waterland and an entity owned by a group of employees and individual shareholders. Notably, the Netherlands-headquartered Heliox caters to the electric bus and electric truck fleets, and passenger vehicles, and employs approximately 330 people. According to Siemens, the acquisition of Heliox complements it...
    Renesas to acquire Transphorm to expand its power portfolio with gallium nitride technology
    Renesas Electronics Corp. and Transphorm, a supplier of gallium nitride (GaN) power semiconductors, announced that they have entered into a definitive agreement pursuant to which a subsidiary of Renesas will acquire all outstanding shares of Transphorm’s common stock for $5.10 per share in cash, according to a press release on Jan. 11. The transaction values Transphorm at approximately $339 million. The acquisition will provide Renesas with in-house GaN technology, a key next-generation mat...
    CES 2024: Intel announces updates to boost automotive business
    At Consumer Electronics Show (CES) 2024, Intel announced plans to expand its mobility business. According to a company press release dated Jan. 9, the chipmaker said that it is looking to acquire Silicon Mobility, a fabless silicon and software company specializing in system-on-chips (SoCs) for intelligent electric vehicle energy management. Intel has also revealed a new family of AI-enhanced, software-defined vehicle (SDV) SoCs, with Zeekr as the first original equipment manufacturer to adopt t...
    Energy company OMV Petrom plans to become largest EV charging network in Romania by 2026
    OMV Petrom, one of the largest integrated energy companies in Southeast Europe, plans to acquire a 50% stake in Electrocentrale Borzesti from RNV Infrastructure, the company announced Jan. 3. Notably, Electrocentrale Borzesti holds an approximately 1-GW capacity of renewable projects, out of which are 950-MW wind and 50-MW photovoltaic. OMV Petrom said that these projects will be further developed, built and operated in partnership with RNV Infrastructure. In addition, OMV Petrom plans to ...
    Danlaw Inc. purchase leading vehicle-to-everything technology provider, Cohda Wireless
    Danlaw Inc., a renowned pioneer in the field of vehicle-to-everything (V2X) technology, announced the acquisition of Australia-based Cohda Wireless. The company said this is a strategic move that marks a significant milestone in Danlaw’s global expansion initiative, aimed at advancing connected vehicle safety and smart city solutions. The acquisition of Cohda by Danlaw reflects a commitment to innovation, and a shared vision of creating a more connected and safer future for vehicles, c...
    Jabil completes divestment of its mobility business to BYD Electronic
    Jabil has closed the transaction to divest its Mobility business to BYD Electronic (International) Co., it said in a press release dated Dec. 29, 2023. The consideration is $2.2 billion in cash. The deal was first announced in Sept. 26, 2023. “We are pleased to successfully close this transformational deal and I am confident that this is the right step forward for Jabil. The net proceeds will enable us to enhance our shareholder-centric capital framework, including incremental share buyback...
    China Yuchai divests Yuchai Remanufacturing Services unit
    China Yuchai International has announced that its main operating subsidiary in China, Guangxi Yuchai Machinery Co. Ltd. (GYMCL), has entered into an agreement with Beijing Liandong Jinyuan Management Technology Co., according to a company press release dated Dec. 31, 2023. According to the agreement, GYMCL’s 100% equity holding in Yuchai Remanufacturing Services (Suzhou) Co. will be sold to Beijing Liandong. The consideration for the transaction is 179.94 million yuan (about $25.4 mill...
    Livguard acquires Emuron Technologies
    Livguard has acquired Emuron Technologies, a battery swapping and battery-intelligence solutions provider, The Financial Express reported Dec. 20, 2023. Livguard offers services in the field of inverters, automotive batteries, solar solutions and lithium batteries. The acquisition will strengthen the company’s position in the energy transition two- and three-wheelers segment. “We firmly believe that battery swapping will play a pivotal role in accelerating the adoption of electric two- an...
    Mobix Labs completes acquisition of EMI Solutions
    Mobix Labs, a fabless semiconductor company, has completed the acquisition of EMI Solutions, an Irvine, Calif.-based manufacturer of electromagnetic interference filtering products, according to a press release on Dec. 19. This strategic move allows Mobix Labs to expand its customer base and gain access to new high-reliability (HiRel) markets, as EMI Solutions is recognized as a leading small business manufacturer of EMI filtering products. Terms of the transaction were not disclosed. ...
    Japan’s Nippon Steel clinches deal to buy US Steel for $14.9 billion
    Japan's Nippon Steel has clinched a deal to buy US Steel for $14.9 billion in an auction, which also saw participation from competitors such as including Cleveland-Cliffs, ArcelorMittal and Nucor, according to a news report published by Reuters on December 19. Citing people familiar with the deal, the report said that in a meeting of its board of directors on Sunday, US Steel deemed Nippon's offer superior to a sale to Cleveland-Cliffs, which had raised its bid in the high $40-per-share range...
    Samvardhana Motherson to acquire Lumen Group, Deltacarb
    Auto components major Samvardhana Motherson International Ltd. (SAMIL) on Dec. 15 announced acquisitions of Australia's Lumen Group and Switzerland's Deltacarb SA for nearly 5.75 billion Indian rupees (about US$469 million), Business Standard reported Dec. 15. The company's board approved the two acquisitions by its wholly-owned arm Samvardhana Motherson Automotive Systems Group BV, SAMIL said in separate regulatory filings. Lumen Group comprises Lumen Australia Pty. Ltd., Lumen Internatio...
    Tokyo-based Harmonic Drive Systems to buy back shares after Toyota's stake sale
    Tokyo-based Harmonic Drive Systems, a manufacturer of speed reducers, announced Dec. 6 that Toyota Motor will sell its entire stake in the company through an open market overseas sale, Reuters reported Dec. 6. The move has sparked speculation among investors that Toyota may accelerate the sale of its shareholdings in affiliates and partners, following last week's announcement to divest a stake in supplier Denso. The report said Toyota will sell 4,379,400 shares of Harmonic Drive Systems at an...
    TMD Friction confirms successful acquisition by Aequita
    In a press release announcement on Dec. 5, TMD Friction, a specialist for high-quality brake friction solutions for the automotive and brake industry, has confirmed the successful completion of its acquisition by Aequita, a privately-owned industrial group based in Munich, focused on the acquisition and long-term value enhancement of companies. The company said that the transaction has closed successfully after receiving the required regulatory clearances and approvals from all relevant autho...
    TMD Friction, HELLA ink deal for HELLA to acquire 50% share in brake joint venture HELLA Pagid
    TMD Friction and HELLA have agreed to transfer the 50% share held by TMD Friction in the brake joint venture (JV) Hella Pagid to HELLA. The two companies signed a letter of intent, with HELLA becoming the sole shareholder of Hella Pagid. Founded in 2013, Hella Pagid sells brake components and accessories on the global automotive aftermarket. The parties have agreed not to disclose the purchase price, said a press release on December 1. HELLA aims to expand sales of brake products under the HE...
    Kongsberg Automotive completes the purchase of Skriverform
    Zurich-based Kongsberg Automotive AS (KA) has completed the acquisition of 100% of the share capital of Skriverform AS, with the deal being finalized as announced on Nov. 9, 2023. Skriverform, based in Norway, specializes in the design and manufacture of injection molding (IM) tools, a company press release said Nov. 29. According to Linda Nyquist-Evenrud, KA's interim president and CEO, the acquisition aligns with the company's strategic plan to achieve vertical integration, enhance efficien...
    Toyota plans to reduce stake in Denso – report
    Toyota Motor and two affiliated companies plan to sell approximately 10% of their shares in Denso, an auto-parts supplier, worth about ¥700 billion (about $4.7 billion) by the end of November, according to a Nikkei Asia report on Nov. 29. The move aims to reduce cross-shareholding and free up funds for electric vehicle investments. Toyota Motor currently holds about 24% of Denso's total shares, while Toyota Industries owns 9% and Aisin holds 2%. The Japanese automaker plans to lower its hold...
    Harman acquires Roon to expand music-streaming platform
    Harman, a wholly-owned subsidiary of Samsung Electronics Co. Ltd., has acquired Roon, a music management, discovery and streaming platform for music enthusiasts. Roon offers a rich interface for browsing and discovering music, compatibility with almost any audio device and a playback engine designed to deliver the best possible sound, the company announced Nov. 27. The acquisition will allow Roon to operate as a standalone Harman business with its existing team while continuing to serve ...
    Ovo Energy acquires public EV charging consumer app Bonnet
    Ovo Energy has successfully completed the acquisition of public electric vehicle charging consumer app Bonnet, the energy supplier announced Nov. 24. Bonnet is a UK public-charging aggregator startup working to accelerate the uptake of sustainable transport. The startup’s groundbreaking technology brings together nationwide public charge point operators into one app. According to the press note, Bonnet is one of the largest public-charging consumer apps with over 80% of the UK’s charge...
    Komatsu to acquire American Battery Solutions
    Komatsu America Corp., a wholly owned subsidiary of the Japanese multinational company Komatsu, plans to acquire American Battery Solutions Inc. (ABS), a Detroit-based battery manufacturer, Komatsu announced Nov. 20. Komatsu said that it is planning to close the acquisition on Dec. 1, on the condition that all necessary procedures for the closing are completed. The immediate impact on Komatsu’s consolidated business results is estimated to be minimal, it added. Notably, ABS is known for ...
    Broadcom completes acquisition of VMware
    In a press release announcement on Nov. 22, Broadcom said that it has completed its acquisition of VMware Inc. VMware's common stock will now cease to be traded on the NYSE. Hock Tan, president and CEO of Broadcom, said, "We are excited to welcome VMware to Broadcom and bring together our engineering-first, innovation-centric teams as we take another important step forward in building the world's leading infrastructure technology company. With a shared focus on customer success, together we a...
    Recaro Automotive acquires C12 Technology, strengthening seat market position with advanced composite materials
    Recaro Automotive North America has acquired the assets and technology of C12 Technology, it said in a press release dated Nov. 20. C12 Technology is a US-based company specializing in advanced material component development and production. With this acquisition, Recaro aims to strengthen its Automotive division’s position in the premium performance seat market. The deal marks a strategic move by Recaro Automotive to vertically integrate its engineering, development and manufacturing o...
    Panasonic and Apollo partner for Panasonic Automotive Systems business
    Panasonic Holdings Corp. (PHD) has signed a memorandum of understanding with an affiliate of Apollo Global Management to become a strategic partner in the Panasonic Automotive Systems (PAS) business, a company press release dated Nov. 17 said. Under the agreement, funds managed by Apollo will acquire a portion of PHD's ownership of PAS. The companies will continue discussions with the intention of finalizing the details of the agreement by March 31, 2024. PAS provides advanced technologies, i...
    Heraeus acquires stake in startup Zadient Technologies
    Technology company Heraeus has acquired a significant stake in the startup company Zadient, it said in a press release dated Nov. 13. Zadient is a French-German company specializing in Silicon Carbide (SiC) source material and Heraeus considers the market of SiC-base material highly relevant and a suitable addition to its operations. Zadient aims to accelerate its growth through the partnership with Heraeus. “We are very excited to be partnering with an industry leader like Heraeus. Th...
    BrightDrop becomes part of General Motors
    BrightDrop, an electric delivery startup, has become a subsidiary of General Motors, the US automaker said in a press release on Nov. 16. BrightDrop was started in GM’s Innovation Lab and has leveraged the company's manufacturing expertise. The startup has produced a product portfolio that helps major companies such as FedEx, Ryder and DHL decarbonize their fleet operations. The integration of BrightDrop will also enable GM to scale up production of its Zevo electric delivery vans, which ar...
    GM acquires sand-casting specialist TEI to enhance innovation and manufacturing efficiency
    In a recent development, General Motors has acquired Tooling & Equipment International (TEI), a specialist in sand-casting techniques, to bolster its portfolio of innovations and secure access to unique casting technology.  TEI had been working with Tesla to develop the company's gigacasting molds, which allow for the rapid prototyping of large metal body parts in one piece, reducing manufacturing time and costs. With TEI now under GM's umbrella, the automaker has gained access to cr...
    KPIT to acquire 13% stake in N-Dream for €3 million
    KPIT, in a press release on Nov. 9, announced that its board of directors approved the initial strategic acquisition of 13% shareholding in N-Dream AG (N-Dream), a cloud-based game aggregation platform company with an option to increase the shareholding further. The company is based in Switzerland. KPIT will pay €3 million for the 13% stake. N-Dream is in the in-vehicle gaming space offering a cloud-based game aggregation platform including data to automotive original equipment manufac...
    Volvo to acquire Proterra’s battery business, assets for $210 million
    Swedish automaker Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of $210 million, the company announced Nov. 10. Notably, Proterra Inc. and Proterra Operating Co. Inc. are in a voluntary Chapter 11 bankruptcy process in the US. The company said that the transaction between Proterra Inc. and Proterra Operating Co. Inc. as sellers and Volvo is subject to approval by the bankruptcy court i...
    EasyPark Group to expand reach with acquisition of global mobility player Flowbird Group
    EasyPark Group, a leading mobile paid parking provider, aims to acquire Flowbird Group, a global mobility player offering integrated parking and transportation solutions. The acquisition will expand EasyPark Group's reach to thousands of new locations worldwide, enabling the company to deploy its award-winning consumer and business-to-business services. Flowbird Group operates under several brands, including Flowbird, YourParkingSpace, TPark, Extenso Cloud and Yellowbrick, providing multiple ...
    Harman acquires Flux Software Engineering to expand immersive audio offerings
    Harman Professional Solutions, a global leader in audio, lighting and video and control technologies, has agreed to acquire Flux Software Engineering (Flux::), a pioneer in immersive audio production, audio processing plug-in design and audio analysis. The acquisition will expand Harman Professional's offerings across various applications with cutting-edge immersive technology and establish a foundation for future innovation by combining Flux::'s team with Harman Professional's hardware and s...
    Raymond acquires majority stake in Maini Precision Products for $81.9 million
    Raymond Group has acquired a 59.25% stake in Maini Precision Products Ltd. (MPPL) for $81.9 million, Mint reported Nov. 3. The acquisition will diversify Raymond's business portfolio beyond its core fabric and realty segments and open up new opportunities in rapidly growing sectors such as electric vehicles (EVs). MPPL manufactures precision engineering products for aerospace, EV and defense sectors with 11 manufacturing facilities in India. As part of the deal, Raymond will consolidate its e...
    Jabil acquires Retronix to bolster electronic component recycling capabilities
    Jabil Inc., a global leader in design, manufacturing and supply chain solutions, has successfully acquired Retronix, an innovative provider of electronic component reclamation and refurbishment services, according to a press release dated Nov. 6. The acquisition, which was completed in early 2023, adds exclusive technologies to Jabil's portfolio while maintaining security, quality and certification standards. Retronix, with 30 years of experience in component recovery, rebelling, retinning an...
    Ford Motor acquires energy startup Auto Motive Power
    Ford Motor Co. plans to acquire energy-management startup Auto Motive Power (AMP) to boost its electric vehicle charging, battery management and power-conversion technology capabilities, according to a news report published by TechCrunch on Nov. 2. Following the deal and completion of acquisition process, the Los Angeles-based startup will cease to exist, the report said, adding that Ford plans to scoop up the startup’s technology, talent and facility in Santa Fe Springs, Calif., to ad...
    Borealis acquires Rialti to expand mechanically recycled plastic compounding capacity
    Borealis has acquired Rialti, an Italian polypropylene (PP) compounder of recyclates, it said in a press release dated Nov. 2. The acquisition enhances Borealis' portfolio of PP compounds based on mechanical recyclates by 50,000 metric tons per year, strengthening its ability to meet customer demand for sustainable, high-performance solutions. The acquisition will strengthen Borealis' specialty and circular portfolios. Rialti uses its annual capacity of 50,000 metric tons to make injection mo...
    Mann+Hummel Group buys majority stake in Suzhou U-Air Environmental Technology
    The Mann+Hummel Group on Oct. 31 announced the closing of the acquisition of a majority stake in Suzhou U-Air Environmental Technology (U-Air). The company said this strategic move reinforces Mann+Hummel's commitment to meeting the rising global demand for cleaner air solutions and strengthens its footprint in the growing Chinese and Southeast Asian air-filtration market. Highlighting the importance of the acquisition of U-Air, one of the largest Chinese filtration manufacturers known for its...
    Linamar completes acquisition of Mobex
    Linamar Corp. has announced the completion of its acquisition of Mobex, in a press release dated Nov. 1. Mobex is a tier 1 supplier of automotive components. In September, Linamar signed an agreement with Mobex to acquire a substantial portion of its US-based assets with the consideration for Mobex’s Propulsion-Agnostic business valued at $64 million. The assets acquired consist of manufacturing operations for propulsion-agnostic chassis, and suspension modules and components, such as ...
    Chinese automaker Dongfeng to buy assets from its JV partner Stellantis
    Dongfeng Motor Group will acquire automotive assets from its joint venture with Stellantis NV as part of the carmaker's strategy to consolidate its manufacturing resources amid weak car sales in mainland China, Nikkei Asia reported on October 24, based on a news report from Caixinglobal.com.  The report said Dongfeng Peugeot Citroen Automobile (DPCA) will sell assets including certain land-use rights, buildings and structures in Wuhan and Xiangyang in Hubei province, mainland China,...
    Infineon completes acquisition of GaN Systems
    Infineon Technologies has announced the closing of the acquisition of GaN Systems. The Ottawa-based company brings with it a broad portfolio of gallium nitride (GaN)-based power conversion solutions and application know-how. All required regulatory clearances have been obtained and GaN Systems has become part of Infineon effective as of the closing, according to a press release on October 24. “GaN technology is paving the way for more energy-efficient and CO2-saving solutions that support d...
    Onsemi completes expansion of Silicon Carbide production facility in Bucheon, South Korea
    Onsemi has announced the completed expansion of its Silicon Carbide (SiC) fabrication facility in Bucheon, South Korea, according to a press release on October 24. At full capacity, this fab will be able to manufacture more than 1 million 200-mm SiC wafers per year. To support the ramp in SiC manufacturing capacity, Onsemi plans to hire up to 1,000 local employees over the next three years to fill the mostly highly technical positions — a more than 40% increase over the present workforce ...
    Northleaf Capital to invest $200 million to fund EVPassport’s capital requirements
    Private equity firm Northleaf Capital Partners has agreed to acquire a controlling stake in the US-based electric vehicle charging network EVPassport Inc., Northleaf announced October 12. EV charging platform startup EVPassport was co-founded by Hooman Shahidi and Aaron Fisher, who serve the venture as the CEO and chief technology officer, respectively. The company focuses on the deployment of Level 2 and Level 3 EV chargers across North America and provides an end-to-end EV chargin...
    Denso announces strategic minority investment in Silicon Carbide LLC
    According to a press release on October 10, Denso has invested $500 million in Silicon Carbide LLC, a subsidiary of Coherent Corp. focused on Silicon Carbide (SiC) wafer manufacturing. This investment will ensure a long-term stable procurement of high-quality SiC wafers to enhance the competitiveness of Denso's electrification components, particularly inverter devices used in battery-electric vehicles (BEVs). With this equity investment, Denso will hold a 12.5% stake in Silicon Carbide LLC....
    Eyeing the growing EV market, Schaeffler makes €3.6 billion bid for Vitesco
    Schaeffler AG is offering to buy Vitesco Technologies Group AG in a €3.64 billion deal that would bolster the German ball-bearings maker’s presence in the electric vehicle supply chain, Yahoo Finance reported October 9, quoting news agency Bloomberg.  Schaeffler — whose shareholders already control almost half of Vitesco — said October 9 that it has offered €91 a share in cash for the company, confirming an earlier report by Bloomberg News. The company expects the transact...
    BASF divests Neopolen EPP business to Knauf Industries
    BASF has agreed to divest its Neopolen expanded polypropylene (EPP) business to Knauf Industries GmbH, Plastics Today reported October 8. The transaction includes the production plant at BASF's Schwarzheide site in Germany, along with the associated products, intellectual property, customer and supplier contracts, and trademark rights. Neopolen enables the production of lightweight molded parts for the automotive and heating and air conditioning industries. Knauf Industries is manufacturer of...
    Infineon acquires ultrawide-band supplier 3db Access to strengthen connectivity portfolio
    According to a press release on October 4, Infineon Technologies AG, a Germany-based semiconductor company, has acquired 3db Access AG, a Swiss startup specializing in secured low-power, ultrawide-band (UWB) technologies. The acquisition enhances Infineon's portfolio for secured smart access, precise localization and enhanced sensing, adding UWB to its existing connectivity range of Wi-Fi, Bluetooth, Bluetooth Low Energy and near-field communications (NFC) solutions.  Thomas Rosteck, pre...
    Newly established company Toyota Boshoku Seiko commences operations
    Toyota Boshoku Corp. announced October 3 that the company has acquired the shares of Toyota Auto Body Seiko Co. Ltd. from Toyota Auto Body, increasing its shareholding from the current 33.6% to 66.4% stake and making it a subsidiary company. After an increased stake, the subsidiary company will be renamed as Toyota Boshoku Seiko Corp. as of October 1, it said. The corporate restructuring was done in the presence of Masayoshi Shirayanagi, president of Toyota Boshoku Corp.; Katsuhiro Matsu...
    Mahle and Hella sell Behr-Hella Thermocontrol JV to AUO Corp.
    Automotive suppliers Mahle and Hella have agreed to sell their respective 50% stake in the Behr-Hella Thermocontrol (BHTC) joint venture to AUO Corp., a Taiwan-based company specializing in display panel products and solutions. The press statement, dated October 2, stated that the sale is valued at an enterprise value of €600 million and is subject to approval by foreign trade and antitrust authorities. The parties have signed an agreement and expect the transaction to close by mid-2024. BHTC ...
    Michelin completes acquisition of Flex Composite Group
    Michelin has completed the acquisition of Flex Composite Group (FCG), it said in a press release dated September 27. The enterprise value at the time of the initial announcement in June was €700 million. The acquisition will boost the group toward developing its polymer composites activities. FCG works on a wide range of polymer composite solutions, adjacent to those already developed by Michelin. It has 400 employees and primarily operates in Europe. The acquisition will boost Michelin...
    Jabil signs agreement to divest Mobility business to BYD Electronic for $2.2 billion
    Jabil Inc. announced on September 26 the signing of a definitive agreement to divest its Mobility business to BYD Electronic (International) Company Limited (BYDE) in a cash transaction valued at $2.2 billion. The definitive agreement follows a preliminary agreement announced by the two companies on August 27, 2023. As part of the agreement, Jabil’s Mobility business, which manufactures components for consumer electronics, will transfer to BYDE. The business is mainly located in Chengdu and...
    Hyundai Steel to scale back from stainless steel business
    Due to declining demand from top customers such as Hyundai and Kia, along with a flood of Chinese-made products, Hyundai Steel Co. has decided to close its stainless steel-making plant in Incheon, South Korea, a report in The Korea Economic Daily said on September 20.  The paper further said the steelmaker recently informed its labor union of the decision, quoting sources. The company will transfer the Incheon factory employees to other plants after shutting down the plant at t...
    Linamar to acquire propulsion-agnostic business from Mobex for $70 million
    Linamar has signed an agreement with Mobex Fourth and 1 to acquire a substantial portion of its US-based assets, it said in a press release on September 21. The consideration for Mobex’s propulsion-agnostic business is $70 million. The transaction is expected to close in the mid-fourth quarter of 2023. “We are very pleased to announce this acquisition, the latest step in building our revenue profile for non-[internal combustion engine] dependent products in alignment with our overall...
    Redwood Materials acquires Redux Recycling, expands presence in Europe
    Redwood Materials announced September 19 that it has acquired Redux Recycling GmbH, one of Europe’s leading lithium-ion (Li-ion) battery recycler, in an attempt to further expand its presence in Europe. The acquisition of Redux will provide Redwood with a well-established EU presence to quickly expand operations, besides increasing capacity for battery recycling, and work closely with already-established suppliers, customers and industry partners across Europe. According to Redwood, the ...
    Indie Semiconductor acquires Exalos
    Indie Semiconductor has completed the acquisition of Swiss photonics company Exalos, it said in a press release on September 18. Indie paid about $45 million to Exalos shareholders and could pay an additional $20 million if certain revenue-based performance targets are exceeded over a 24-month, post-closing period. “[Exalos'] differentiated solutions immediately expand [Indie’s] [advanced driver assistance systems, or ADAS] and User Experience product and technology offering to our g...
    Europcar Mobility Group to purchase a controlling stake in Euromobil
    Europcar Mobility Group (Europcar) and Euro-Leasing GmbH (Euro-Leasing) — a fully owned subsidiary of Volkswagen Financial Services AG — announced the signing of an agreement, according to which Europcar will take a controlling stake of 51% in Euromobil GmbH (Euromobil), subject to antitrust clearance. The other 49% will remain with Euro-Leasing, according to Europcar's September 15 statement. Euromobil is the rent-a-car and car subscription business of Euro-Leasing operating across Volks...
    Uno Minda to acquire additional stake in Uno Minda Europe for €1.3 million
    Uno Minda is set to acquire the remaining stake in Uno Minda Europe for €1.3 million after receiving board approval, CNBC TV18 reported on September 12. The acquisition will make Uno Minda Europe a wholly-owned subsidiary of Uno Minda. The Indian supplier will buy a 3.81% stake held by George Hutter in Uno Minda Europe through SAM Global Pte Ltd, a wholly owned subsidiary of Uno Minda. Significance: Uno Minda Europe develops lighting systems and electronic control units (ECUs). The compa...
    Intel to sell minority stake in IMS to TSMC
    In a press release announcement on September 12, Intel Corp. has agreed to sell an approximately 10% stake in the IMS Nanofabrication business (IMS) to TSMC. TSMC’s investment values IMS at approximately $4.3 billion, consistent with the valuation of the recent stake sale to Bain Capital Special Situations (Bain Capital). Intel will retain majority ownership of IMS, which will continue to operate as a stand-alone subsidiary under the leadership of CEO Elmar Platzgummer. The transaction is...
    Kaixin Auto announces non-binding acquisition term sheet with WM Motor
    In a press release announcement on September 11, Kaixin Auto said that the company has signed a non-binding acquisition term sheet with WM Motor Holdings, planning to issue a certain number of new shares to acquire 100% of equity of WM Motor held by its current shareholders. Founded in late 2015, WM Motor is a smart new-energy vehicle company in China with full capabilities in product design, research and development (both hardware and software), supply chain management, vehicle and battery-p...
    Mullen Automotive acquires battery-pack production assets from Romeo Power
    Mullen Automotive announced that it has acquired battery-pack production assets from Romeo Power for about $3.5 million, in a press release dated September 11. The deal includes equipment, inventory and intellectual property for high-volume electric vehicle battery pack and module production. “Purchasing the Romeo assets is consistent with our battery pack production path and previous announcements for our high voltage facility in Monrovia. Overall, this purchase further enhances our [capab...
    ABC Technologies to acquire Plastikon’s automotive business
    ABC Technologies has entered into an agreement to acquire an automotive business of Plastikon Industries, it said in a press release dated August 23. The acquisition cost is $130 million, with the transaction expected to close in the third calendar quarter of 2023. “Welcoming Plastikon Automotive into ABC Technologies will represent a significant step forward for our company. It amplifies our position as an industry leader in lightweighting and plastic injection molding, gives ABC a stronge...
    TI Fluid Systems purchases Cascade Engineering Europe for $27.7 million
    Top global automotive fluid systems supplier, TI Fluid Systems (TIFS) has agreed to acquire Cascade Engineering Europe (CEE), a Hungarian-based designer and manufacturer of thermal-fluid connectors and other complex plastic-injection molded components for the automotive industry. The business has a strong reputation for its technical expertise and product quality, with in-house capabilities from design and development to tooling, prototyping and serial manufacturing, the company said in a press ...
    Modine announces sale of its three German plants
    US-based global thermal-management solution provider Modine announced September 6 the signing of a definitive agreement to sell three Modine businesses based in Germany to affiliates of Regent LP. The businesses are located in Neuenkirchen, Germany; Pliezhausen, Germany; and Wackersdorf, Germany. The company said the sale is expected to be completed in the next few weeks pending regulatory approval. The businesses manufacture exhaust gas recirculation coolers, radiators and charge a...
    Clarios to buy Paragon's battery unit
    Clarios, the global leader in manufacturing and recycling advanced, low-voltage networks and batteries, announced its decision to purchase Paragon GmbH & Co. KGaA's power business that produces batteries and battery management systems for the automobile industry. Clarios is the parent company of Varta Automotive, a leading transportation battery brand in Europe, the company said through a press release on August 31. Paragon's engineering team's expertise and leadership with projects ...
    China's Gotion obtains 25% stake in EV battery startup Inobat – report
    According to a Reuters September 1 report, Chinese battery-maker Gotion High Tech is purchasing a 25% stake in Slovak battery-maker Inobat, and will provide supply chain and technology support as the startup scales up production of electric vehicle batteries, the companies said on August 31 without disclosing terms for the investment or what it means for Inobat's valuation. The stake acquisition by Gotion, partly owned by Volkswagen, is the first investment by a Chinese battery-maker in ...
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