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    The case for OEM-made operating systems in the age of software-driven vehicles
    By combining vehicle domains with the cloud and internet of things (IoT), future software architecture will have a common hardware layer at the vehicle level, a common middleware layer in the software level, and an operating system that will add different features in a scalable way. To sustain futur...
    Chip supply constraints will likely persist until third quarter 2021
    The semiconductor shortage crisis has hit the automotive industry at a time when the sector started to experience a moderate recovery in production levels following a pandemic-inflicted slowdown. The ramp up in demand of chips from the automotive industry started when the supply lines were already s...
    ACQUISITION: Chinese group Hisense's subsidiary buys majority stake in Sanden
    Sanden Holdings Co., Ltd. signed a share underwriting agreement with Hisense Home Appliances Group Co., Ltd. at the board of directors meeting held on 1 March. According to a press release issued by Sanden Holdings on the same day, the company has resolved to issue new shares through a third-party a...
    ACQUISITION: Dana acquires Pi Innovo to strengthen e-propulsion capabilities
    American automotive powertrain components supplier, Dana Inc., has announced that it has acquired the Detroit-based embedded software solutions and electronic control units, Pi Innovo. According to a press release issued by Dana on 1 March, the company stated that this acquisition will support its l...
    ACQUISITION: Harman acquires V2X technology firm Savari
    HARMAN has acquired Savari for an undisclosed amount, the Samsung unit said in a press release on 26 February. HARMAN will be able to leverage Savari’s software and hardware technologies, especially for vehicle-to-everything (V2X), and expand its own automotive telematics and advanced driving assi...
    European Commission approves acquisition of EKPO and EKAT
    The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Germany-based EKPO Fuel Cell Technologies (EKPO) by Germany-based ElringKlinger and Plastic Omnium New Energies, and the acquisition of sole control of Austria-based ElringKlinger Fuelcell ...
    Continental picks minority stake in AI-chip startup Recogni
    Germany-based Continental has acquired a minority stake in the German-US startup Recogni, according to a company press release on 23 February 2021. Recogni is working on a new chip architecture for object recognition in real-time based on artificial intelligence (AI). The processors of the future ar...
    PPG completes acquisition of coatings manufacturer VersaFlex
    PPG has completed its acquisition of VersaFlex from DalFort Capital Partners, according to a company press release on 22 February. Financial terms of the deal were not disclosed. VersaFlex specializes in polyurea, epoxy, and polyurethane coatings for water and wastewater infrastructure, flooring, tr...
    ACQUISITION: Goodyear to acquire Cooper Tire for USD2.5 billion
    American tire manufacturer, Goodyear Tire & Rubber Company, has announced that it has entered into a definitive transaction agreement to acquire Cooper Tire. According to a joint press release issued by Goodyear and Cooper Tire on 22 February, the transaction has a total enterprise value of appr...
    ACQUISITION: Elastofirm acquires German materials provider Poppe
    The Dutch company Elastofirm has acquired Germany-based automotive supplier Poppe Elastomertechnik GmbH, according to a company press release on 11 February. The parties have agreed not to disclose the purchase price. Poppe and the Liquid Silicone Rubber (LSR) activities are becoming part of th...
    Modine announces partial sale of Austrian air-cooled automotive business
    US-based thermal management technology and solutions provider, Modine Manufacturing Company, announced that it has agreed to sell a portion of the Company's European air-cooled automotive business, including its manufacturing facility located in Kottingbrunn, Austria. According to a press release...
    Faurecia to sell acoustics, soft trim business to Adler Pelzer Group
    Faurecia has signed a memorandum of understanding (MOU) for sale of its Acoustics and Soft Trim (AST) division to the Adler Pelzer Group (APG), a manufacturer of automotive acoustic and thermal components and systems, the two companies said in separate press releases on 18 February. “We have ta...
    ACQUISITION: Faurecia acquires China-based high-pressure hydrogen tank manufacturer CLD
    In a move to strengthen its hydrogen mobility strategy, Faurecia has acquired mainland China-based  high-pressure hydrogen tank manufacturer CLD, the company announced in a press release on 16 February. Faurecia and CLD will develop and manufacture homologated type III and IV hydrogen storage t...
    ACQUISITION: V99 completes acquisition of Telenav
    Telenav has announced that V99 has acquired the company at USD4.80 per Telenav share in an all cash transaction, a company press release read on 17 February. As a result of the acquisition, Telenav becomes a private company and will no longer be listed on any public market. It will continue to remai...
    ACQUISITION: Rusal acquires German supplier Aluminium Rheinfelden
    Rusal has acquired business and assets of Germany-based aluminum producer Aluminium Rheinfelden out of insolvency, the company announced in a press release on 11 February. The takeover is subject to approval by the German Federal Ministry for Economic Affairs and Energy and the German Federal Cartel...
    Statkraft acquires Swedish EV charging company Bee Charging Solutions
    Norway-based energy company Statkraft has acquired a majority 51%  stake in Swedish electric vehicle (EV) charging company Bee Charging Solutions, the company announced in a press release on 9 February. Öresundkraft, Jämtkraft, and Tekniska Verken will keep  the remaining 49%. Statkraft ...
    OSRAM reports 3.8% y/y drop in revenue to USD1 billion for Q1 2021
    German lighting major OSRAM Licht AG has reported a 3.8% year-on-year (y/y) drop in revenues to EUR840 million (about USD1 billion) for the first quarter ended 31 December 2021, according to a company press release on 9 February. Adjusted EBITDA grew 42.1% y/y to EUR162 million and EBIDTA margi...
    ACQUISITION: Nidec to acquire Mitsubishi Heavy Industries Machine Tool to support electrification business
    In a press release dated 5 February, Nidec announced that it will acquire Mitsubishi Heavy Industries Machine Tool. After completion of the acquisition, Mitsubishi Heavy Industries Machine Tool will become the Nidec-Shimpo’s third main business. The company expects to utilize Mitsubishi Heavy Indu...
    ACQUISITION: Renesas to buy Dialog Semiconductor
    Renesas has announced that it has reached an agreement to acquire Dialog Semiconductor, according to a press release on 8 February. The agreement is for an all-cash acquisition by Renesas of the entire issued and to be issued share capital of Dialog for EUR67.50 per share for a total value of about ...
    Sensata Technologies completes acquisition of Lithium Balance
    Sensata Technologies has completed the acquisition of Denmark-based battery management system (BMS) provider Lithium Balance, according to a company press release on 2 February. The Danish startup, founded in 2006, has developed next-generation BMS technologies for lithium-ion (Li-ion) bat...
    OSRAM sells plant in Bulgaria to Sanmina
    German lighting supplier OSRAM has sold its plant near Plovdiv in Bulgaria to US-based electronics manufacturer Sanmina Corp., according to a report by SeeNews on 4 February. The plant located in the Bulgarian city of Plovdiv makes digital lighting components. The plant employs around 800 peopl...
    Daimler to split into two entities for accelerating push to zero-emission, software-driven future
    The Supervisory Board and the Board of Management of Daimler agreed to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck. Furthermore, Daimler will also rename itself as Mercedes-Benz. The company made these two announcements in a press ...
    Divestment: Hella sells stake in Mando Hella Electronics JV to South Korean partner
    Hella has announced that it will sell its 50% stake in the South Korean joint venture Mando HELLA Electronics (MHE) to Mando, according to a press release on 3 February. The transaction is expected to be completed in the first quarter of 2021 at EUR60 million (USD72 million). “We have worked ve...
    ACQUISITION: Cosworth to acquire vehicle dynamics control systems provider, Delta
    Cosworth and UK-based Delta have announced that an agreement has been signed for Cosworth to fully acquire Delta, the Silverstone-based developer of battery and vehicle dynamics control systems. According to a press release issued by Cosworth on 2 February, the company stated that the acquisition of...
    REE Automotive to become publicly listed through merger with 10X Capital Venture Acquisition Corp
    Israeli electric vehicle (EV) chassis platform startup, REE Automotive, has announced that it has entered into a merger agreement with 10X Capital Venture Acquisition Corp. According to a press release issued by REE Automotive on 3 February, the newly combined company will be listed on the NASDAQ un...
    HELLA completes sale of front camera software business
    The global automotive lighting and electronics specialist HELLA has successfully completed the sale of its front camera software business, according to a company press release on 2 February. Following approval by the relevant antitrust authorities and the fulfilment of further contractual conditions...
    EV battery startup Microvast to go public through merger with Tuscan Holding
    Microvast Inc., a provider of next-generation battery technologies for commercial and specialty vehicles and Tuscan Holdings Corp., a special purpose acquisition company (SPAC), have announced that they have entered into a definitive merger agreement that will result in Microvast becoming a publicly...
    MAHLE completes acquisition of Keihin’s air-conditioning business
    Germany-based automotive components and systems supplier, MAHLE, has announced that it has taken over the air-conditioning business in Japan, Thailand, and the US from the former Keihin Corporation (now Hitachi Astemo, Ltd.). According to a press release issued by MAHLE on 1 February, the acqui...
    ACQUISITON: Shell to acquire EV charging startup ubitricity
    Shell has signed an agreement to buy 100% of ubitricity, a major European provider of on-street charging for electric vehicles (EVs), the latter announced in a press release on 25 January. Subject to regulatory clearance, the deal is expected to be completed later this year. Upon completion of the d...
    Illinois Tool Works to acquire MTS Test & Simulation business from Amphenol
    Illinois Tool Works Inc. (ITW) and Amphenol Corporation, a global provider of high-technology interconnect, antenna and sensor solutions, announced on 20 January that they have entered into an agreement under which ITW will acquire MTS Systems Corporation’s Test & Simulation business, fol...
    ACQUISITION: Elmos acquires electric drive specialist Online Engineering
    Elmos Semiconductor has announced the acquisition of Online Engineering, a company press release read on 18 January. The Dortmund, Germany-based company specializes in the development of hardware and software components for electric drives. Financial details of the deal were not disclosed. “We ...
    ACQUISITION: Motherson Sumi to acquire majority stake in Turkey-based Plast Met Group
    Samvardhana Motherson Automotive Systems Group BV (SMRPBV) is acquiring a majority stake in Plast Met Plastik Metal San. İmalatveTic.A.Ş.(PM-Bursa) and Plast Met Kalıp San.veTic.A.Ş.(PM-Istanbul)—together known as Plast Met group (Turkey)—through its subsidiary Samvardhana Motherson Reflecte...
    Sogefi sells filtration plant in Spain
    Sogefi has divested its filtration plant in Cerdanyola, Spain, to Fragola International Group, the company said in a press release on 15 January 2021. The transaction excludes the aftermarket activities in Spain, that will remain within Sogefi’s perimeter. Enterprise value for the transaction is e...
    ACQUISITION: Garrett Motion selects enhanced proposal from Centerbridge and Oaktree
    Swiss automotive powertrain components and systems manufacturer, Garrett Motion, has announced that it has selected an enhanced proposal put forward by a consortium of stockholders led by Centerbridge Partners, L.P., and Oaktree Capital Management, L.P., in order to reorganize the company. Accord...
    PPG to acquire coatings manufacturer Wörwag
    PPG Industries has reached a definitive agreement to acquire Wörwag, a global manufacturer of coatings for industrial and automotive applications, according to a press release on 11 January. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. ...
    Bridgestone Americas divests Firestone Building Products business to focus on tire business
    South Korean tiremaker Bridgestone’s US division, Bridgestone Americas, has announced that it has divested Firestone Building Products, a commercial roofing and building envelope solutions provider, in order to focus on its tire business. According to a press release issued by Bridgestone Americas...
    ACQUISITION: Teledyne Technologies inks definitive agreement to acquire FLIR Systems
    Teledyne Technologies Incorporated has inked a definitive agreement to acquire FLIR Systems, Inc., according to a FLIR press release on 4 January 2021. Teledyne will acquire FLIR in a cash and stock transaction valued at approximately USD8 billion. Under the terms of the agreement, FLIR stockhold...
    Rico Auto acquires stake in Metalart Friction
    Indian auto parts supplier has acquired a stake in Metalart Friction Private Limited (MFPL), according to a BSE filing by Rico on 30 December. According to the filing, the company has completed the acquisition of 7,000 equity shares having a face value of INR10 each from its existing Promoter Shareh...
    Showa marginally reduces shareholding in Indian JV Munjal Showa to 24.9%
    Japan-based Showa Corporation has reduced shareholding in Indian joint venture (JV) Munjal Showa to 24.9%, according to a BSE filing by Munjal Showa on 30 December 2020. Showa has divested 4,39,973 number of equity shares comprising 1.10% of the paid-up share capital of the JV. After the said dispos...
    Sogefi sells filtration business in Brazil to Eagle Holdings
    Sogefi has inked a binding agreement to sell its Brazilian Filtration business to SA Eagle Holdings, the company announced in a press release on 17 December 2020. Enterprise value for the transaction is estimated around EUR2.3 million (USD2.8 million). The company expects the transaction to close by...
    Hyundai Mobis acquires semiconductor division of Hyundai Autron
    Hyundai Mobis has announced has signed a contract to acquire the semiconductor division of Hyundai Autron, according to a company press release on 14 December. The acquisition cost was USD122 million. The acquisition will give Hyundai Mobis the capability to design, develop, and verify semiconductor...
    Hyundai to acquire 80% stake in Boston Dynamics from SoftBank
    Hyundai Motor Group (HMG) has reached an agreement with SoftBank Group to acquire controlling stake in Boston Dynamics in a deal that values the robotic company at USD1.1 billion, the South Korean automotive group said in a press release on 11 December. As part of the agreement, HMG will acquire aro...
    Varroc acquires partner’s stake in Romanian JV Varroc-Elba
    VarrocCorp Holding B.V. (VCHBV), a wholly owned subsidiary of Varroc, has acquired the balance 30% stake in Romanian joint venture (JV) Varroc-Elba Electronics S.R.L held by the other JV partner, ELBA SA, according to a filing by Varroc with BSE on 9 December. The deal is valued at EUR1.05 million (...
    Bosch reduces stake in EV-startup Nikola to 4.9%
    Bosch has reduced its stake in electric vehicle (EV) startup Nikola from 6.4% to 4.9%, Bloomberg reported on 3 December. The Germany-based automotive supplier cut its ownership below 5% after a lockup period for early investors expired on 30 November 2020. “Our initial investment was primarily mea...
    LG Chem completes spin-off of battery business as 'LG Energy Solution'
    LG Chem has completed the spin-off of its battery business into a new company 'LG Energy Solution', the company announced in a press release on 1 December. LG Chem announced that Kim Jong Hyun has been appointed as the first president of LG Energy Solution. “LG Energy Solution pioneered with an un...
    Bosch to acquire minority stake in US-based startup Sfara
    In a bid to expand mobility service business, Bosch Service Solutions is acquiring a minority stake in Sfara Inc., a US-based startup, the German supplier said in a press release on 30 November. The companies have not disclosed financial details of the transaction. “With this investment in Sfar...
    MAHLE to sell shares in MAHLE König
    Germany-based automotive components and systems supplier, MAHLE, has announced that it will be selling all of its shares in MAHLE König. According to a press release issued by MAHLE on 26 November, the company states that this divestment will take effect from the end of November. Since 1999, MAH...
    Lumentum acquires certain technology assets of TriLumina
    Lumentum Holdings Inc. has acquired certain technology assets of and TriLumina Corporation, including its patents and other intellectual property, Lumentum announced in a press release on 16 November 2020. The companies did not disclose the terms of the transaction. Significance: Lumentum is a ma...
    Recticel to acquire Conxzetta Group’s foam solution company FoamPartner
    Recticel has entered into final agreements with Swiss Conzzeta AG to acquire FoamPartner in cash for an enterprise value of CHF270 million (USD296 million), CHF 20 million of the price being payable in January 2022, Recticel announced in a press release on 10 November. This represents an 8.6× avera...
    Sierra Wireless completes sale of automotive embedded module product line
    Sierra Wireless has completed the previously announced sale of its China-based automotive embedded module product line to Rolling Wireless (H.K.) Limited for USD165 million in cash, according to a press release on 18 November. The sale of the automotive product line includes approximately USD19 mill...
    Valmet Automotive completes divestment of engineering service business
    In a press release dated 16 November, Valmet Automotive has completed divestment of its engineering service business to Mutares SE & Co. KGaA. With the sale of the Engineering Services, Valmet Automotive has exited traditional vehicle development and combustion engine related technologies. Si...
    Uber explores selling autonomous driving unit
    Uber is in talks to sell its autonomous driving unit, Uber Advanced Technology Group (ATG), to Aurora Innovation, TechCrunch reported on 14 November citing three people familiar with the development. Terms of the deal are known but Uber has been talks with Aurora since October, the report claimed. &...
    TOTAL acquires EV charging solutions business from Germany-based Digital Energy Solutions
    Energy company TOTAL has acquired electric vehicle (EV) charging solutions business from Germany-based Digital Energy Solutions, TOTAL announced in a press release on 2 November. With the integration of the Charging Solutions business unit, TOTAL is taking over around 1,400 charging statio...
    ACQUISITION: Adler Pelzer Group acquires acoustic division of STS Group
    Adler Pelzer Group has acquired the acoustic division of STS Group, according to a company press release on 30 October. The company announced completion of the acquisition after receiving the green light from antitrust authorities and other closing conditions. "We are very proud of this mark...
    Acquisition: Telenav agrees to be acquired by V99
    Telenav has entered into a definitive agreement to be acquired by V99, Inc., in an all-cash transaction that values Telenav at about USD241 million, the US-based said in a press release on 3 November. V99 is a US-based company established by HP Jin, cofounder, president, and CEO of Telenav. Jin, alo...
    DIVESTMENT: Modine signs agreement to sell majority of automotive business to Dana
    Thermal management technology and solutions provider, Modine Manufacturing Company, has announced that it has signed a definitive agreement with Dana Incorporated to sell the liquid-cooled portion of its automotive business. According to a press release issued by Modine on 2 November, the company st...
    LG Chem shareholders approve spin-off of battery business
    LG Chem shareholders have approved spinning off its battery business as a standalone company, The Korea Times reported on 30 October. The new company will be named LG Energy Solution and will be established as a fully-owned subsidiary of LG Chem on 1 December 2020.  Significance: LG Chem fir...
    Groupe PSA reduces stake in Faurecia to 39%
    Groupe PSA has announced the completion of the sale of 9,663,000 shares in Faurecia, representing approximately a 7% stake in the French supplier, via an institutional private placement, the automaker said in a press release on 28 October. The proceeds from the transaction amount to approximately EU...
    Continental mulls divesting its turbocharger business
    Continental is mulling to sell its turbocharger business as part of its ongoing restructuring program, Bloomberg reported on 22 October. Continental is reportedly in talks with prospective buyers. Significance: In 2019, Continental announced a long-term restructuring program "Transformation 2019...
    Mahle to acquire air conditioning business of Japanese supplier Keihin
    Mahle has inked a purchase agreement to acquire Keihin Corporation’s air conditioning business in Japan, Thailand, and the United States, the former announced in a press release on 23 October 2020. The implementation of the agreement, which is expected in the first quarter of 2021, requires the ap...
    ACQUISITION: KPS Capital raises stalking horse bid for Garrett Motion to USD2.6 billion
    In a press release dated 19 October, Garrett Motion has announced that it has received a higher stalking horse bid from KPS Capital Partners. KPS Capital has raised the bid by USD500 million to USD2.6 billion. KPS would also offer coinvestment in an aggregate amount of up to USD350 million, of which...
    Liberty Steel Group makes an offer to acquire thyssenkrupp Steel Europe
    LIBERTY Steel Group has made a non-binding indicative offer (NBIO) to thyssenkrupp to acquire the German steel major's assets in Europe, according to a press release on the website of LIBERTY Steel Group on 16 October. LIBERTY Steel’s proposal is subject to certain assumptions about the business. ...
    ACQUISITION: VOSS Group acquires HENZEL Automotive to strengthen presence in thermal management systems
    German automotive components supplier, VOSS Automotive, has announced its acquisition of Henzel Automotive GmbH. According to a press release issued by the Voss Group on 19 October, this will complement the Group’s development and production competencies in the automotive thermal management s...
    Acquisition: Lumax Auto to acquire JV partner stake in Lumax Gill-Austem
    Lumax Auto Technologies has acquired the entire shareholding held by erstwhile joint venture (JV) partner in Lumax Gill Austem Auto Technologies Private Limited (LGAAT), a subsidiary of the company, according to a regulatory filing by the company in 16 October. The deal is valued at INR7.3 million. ...
    Nippon Steel considers selling two automotive steel plants in US
    Nippon Steel is considering selling two of its automotive steel plants in the US state of Indiana, according to a report by The Japan Times on 14 October. Nippon Steel is thinking of following the suit after its partner ArcelorMittal, which jointly owns a company running the two plants, decided to s...
    DIVESTMENT: Valmet to sell Engineering Services Business to intensify focus on e-mobility
    Valmet Automotive has reached an agreement to divest its Engineering Services Business Line to Mutares SE & Co. KGaA, according to a company press release on 12 October. The divested engineering services business includes vehicle development, electrics/electronics, simulation and testing se...
    Acquisition: Autonomous vehicle safety company Foretellix to acquire startup Metamoto
    Israeli startup Foretellix has announced that it will acquire Metamoto for an undisclosed amount, a company press release read on 7 October. Foretellix target of offering OEMs and tier-1 suppliers with simulator agnostic verification and validation solution will be boosted by Metamoto’s experti...
    ACQUISITION: BorgWarner completes acquisition of Delphi Technologies
    American automotive components manufacturer, BorgWarner, has announced that it has completed the acquisition of Delphi Technologies. In a press release issued by BorgWarner on 2 October, the company stated that acquiring Delphi Technologies would reinforce BorgWarner’s electronics and power electr...
    DIVESTMENT: Adient completes sale of fabric business to Sage Automotive Interiors
    Adient completed the previously announced sale of its automotive fabric manufacturing business to Sage Automotive Interiors on 30 September, the US-based automotive supplier said in a press release on 1 October. Sage Automotive Interiors, a wholly owned subsidiary of Japan-based Asahi Kasai Group pa...
    Novelis sells Belgium plant as part of Aleris acquisition
    Novelis, a major player in aluminum rolling and recycling, has sold the former Aleris plant in Duffel, Belgium, to ALVANCE, the aluminum business of the GFG Alliance, according to a company press release on 2 October 2020. The transaction is part of Novelis’s acquisition of Aleris. Significance...
    Total acquires EV charging company ‘Blue Point London’
    Energy company Total has acquired electric vehicle (EV) charging company ‘Blue Point London’ from the Bolloré Group, the company announced in a press release on 29 September. With this transaction, Total is taking over the management and operation of EV charging network Source London. This tran...
    DIVESTMENT: HELLA to sell front camera software business to Volkswagen’s Car.Software Org
    HELLA has announced that it will be selling its front camera software business to Volkswagen’s Car.Software Org, a company press release on 29 September read. The transaction is expected to result in an income of about EUR100 million (USD116.5 million) for HELLA. Following the closure of the tr...
    Diodes gets mainland China’s State Administration for Market Regulation approval for Lite-On Semiconductor acquisition
    Diodes has received approval from mainland China’s State Administration for Market Regulation (SAMR) for the acquisition of Lite-On Semiconductor, the company said in a press release on 23 September. The transaction is expected to close by the end of November 2020. Significance: In March, Diode...
    LeddarTech acquires assets of Phantom Intelligence
    LeddarTech has acquired the assets of Phantom Intelligence, including all of its intellectual property (IP) and technology, the company said in a press release on 22 September 2020. Phantom Intelligence, founded in 2011, specializes in signal processing and lidar technology that protects vulnerab...
    KPS Capital Partners enters agreement for potential acquisition of Garrett Motion’s business
    Swiss automotive powertrain components manufacturer Garrett Motion announced that it has signed a stock and asset purchase agreement with US-based private equity firm KPS Capital Partners, wherein the company, through an affiliate, would acquire substantially all of the assets of Garr...
    SPIN-OFF: LG Chem announces plan to spin off its battery business
    LG Chem has announced plans to spin off its battery business, a company press release read on 17 September. The decision has been approved by the board and is subject to shareholder approval. LG Chem says that it will be a physical division in which LG Chem will possess all of the stocks issued b...
    Does the acquisition of Arm give NVIDIA the keys to autonomous driving?
    US-based NVIDIA’s announced agreement to acquire UK-based Arm from SoftBank is a significant development for automotive electronics. Arm brings CPU intellectual property (IP) expertise that has enabled low-powered, embedded solutions, and NVIDIA’s graphics processing unit (GPU) IP expertise has ...
    ACQUISITION: HELLA acquires plastics technology specialist FWB Kunststofftechnik
    HELLA GmbH & Co. KGaA has acquired Germany-based plastics technology specialist FWB Kunststofftechnik GmbH (FWB), according to a HELLA press release on 15 September 2020. HELLA already has a 25% stake in FWB. With the complete takeover, which took place on 14 September 2020, HELLA intends to sec...
    ACQUISITION: NVIDIA agrees to acquire ARM for USD40 billion
    NVIDIA has reached a definitive agreement to acquire the UK-based chip designer ARM Limited from SoftBank Group in a transaction valued at USD40 billion, the company said in a press release on 13 September. The transaction is expected to conclude in 18 months, subject to customary closing conditions...
    Wallbox acquires EV charging app Electromaps
    In a press release dated 8 September, Wallbox announced that it has acquired a majority stake in Electromaps electric vehicle (EV) charging app. Electromaps will continue to develop and operate its platform under the same brand through the leadership of its founding partners Xavier Cañadell and Jor...
    ACQUISITION: Bosch acquires 26% stake in Indian e-mobility company SUN Mobility
    German auto parts supplier Bosch, through its investment vehicle Robert Bosch Investment Nederland B.V., has acquired a 26% stake in Indian e-mobility company SUN Mobility, according to a report by ET Auto on 4 September. The companies did not disclose the financial terms of the transaction. “B...
    Yandex, Uber to spin off autonomous unit
    Yandex N.V., a Russian internet giant, will spin off its autonomous vehicle business and form a new company -called Yandex Self Driving Group B.V. (Yandex SDG) with Uber, Yandex announced in a press release on 4 September 2020. Before the spin-off, Yandex’s self-driving car business unit was part ...
    ACQUISITION: Magna to acquire majority ownership of Chinese seat supplier Honglizhixin
    Magna has signed an agreement to acquire majority ownership of Honglizhixin, a major seat supplier to Chinese automakers, the Canadian automotive parts supplier announced in a press release on 3 September 2020. At the same time, Magna will acquire a majority stake in its existing seating joint ventu...
    ACQUISITION: Delfingen acquires Schlemmer’s European and African operations
    Delfingen, a supplier of electrical cable protection systems and solutions for the automotive industry, has completed the acquisition of Schlemmer’s business in Europe/Africa, according to a company press release on 1 September. Schlemmer’s Asian perimeter was sold to its Chinese partner, the Fe...
    ACQUISITION: Allegro MicroSystems acquires lidar manufacturer Voxtel
    Allegro MicroSystems has announced the acquisition of Voxtel, a company dealing with advanced photonic and 3D imaging technology including long-range, eye-safe lidar, a company press release read on 28 August. The rationale behind the acquisition is utilizing Voxtel’s laser and imaging products wi...
    DIVESMENT: Panasonic completes transfer of semiconductor business to Nuvoton Technology
    Panasonic has announced the completion of transfer of its semiconductor business to Winbond Electronics’ unit Nuvoton Technology, a company press release read on 1 September. Initially 1 June was was deemed as the completion date, but it was postponed due to the COVID-19 pandemic delaying the clea...
    nd Group acquires majority share in EV startup e.GO Mobile
    nd Group’s nd Industrial Investments has acquired a majority share in electric vehicle (EV) startup e.GO Mobile for an undisclosed amount, e.GO Mobile announced in a press release on 31 August. On September 1, Next.e.GO Mobile SE took over the entire business of e.GO Mobile AG including all subsid...
    M&A: Shiloh enters stock and asset purchase agreement with Grouper Holdings
    Shiloh Industries, Inc., a global supplier of lightweighting, noise and vibration solutions, has entered into a ‘stalking horse stock and asset purchase agreement’ with Grouper Holdings, LLC, a subsidiary of MiddleGround Capital LLC, Shiloh announced in a press release on 30 August 2020. As per ...
    Hella mulls sale of driver-assistance software unit
    Hella is planning to sell its driver-assistance software unit, Bloomberg reported on 27 August, citing people familiar with the development. The German supplier is working with its advisors to gauge interest in the business which could fetch several hundred million euros, the people told Bloomberg, ...
    SPIN-OFF: Hexagon Composites to spin off e-mobility business into a new company
    Hexagon Composites is planning to spin off and list its e-mobility business into a new entity, called Hexagon Purus, the company announced in a press release on 24 August. The Private Placement will allow the e-mobility Business to be listed with the required capital to fund its initial development ...
    DIVESTMENT: Adient completes sale of interior business to Yanfeng Automotive
    Adient has completed the previously announced divestment of its stake in automotive interior joint venture, Yanfeng Global Automotive Interior Systems (YFAI) to its Chinese partner, Yanfeng Automotive Trim Systems, the company said in a press release on 21 August. The US-based automotive supplier re...
    Bridgestone announces proposal to close South African tire production facility
    Japanese tire manufacturer Bridgestone’s South Africa division has announced that it plans to shut down its bias tire production plant located in Port Elizabeth, South Africa. In a press release issued by Bridgestone Southern Africa on 20 August, the company stated that this move is aligned with t...
    SPIN-OFF: Alfa’s shareholders approve spin-off of Nemak
    Nemak, S.A.B. de C.V. has announced that shareholders of its parent company Alfa S.A.B. de C.V. have approved a proposal to spin off its entire ownership stake in Nemak, S.A.B. de C.V., according to a company press release on 17 August. The proposal includes transfer Alfa’s entire share ownership ...
    Porsche invests in connected car startup Aurora Labs
    Porsche Automobil Holding has acquired a minority stake in Israel-based startup Aurora Labs for USD2.5 million, the company said in a press release on 13 August. The venture capital arm of Porsche has already invested in two U.S-based 3-D printing specialists Markforged and Seurat Technologies an...
    M&A: Veoneer completes divestiture of US brake control business to ZF
    Swedish automotive technology provider, Veoneer, has announced that it has completed the divestment of its US-based brake control business unit. According to a press release issued by Veoneer on 11 August, the company stated that its US brake control business unit has been divested to German automot...
    M&A: MiddleGround Capital acquires majority ownership in US supplier Dura Automotive
    MiddleGround Capital has acquired a majority stake in Dura Automotive Systems, the US-based supplier said in a press release on 6 August. The US-based private equity firm bought the stake in Dura from Bardin Hill Investment Partners. Dura Automotive specializes in highly-integrated mechatronic sy...
    PLANT CLOSURE: Marelli Automotive Lighting to permanently close plant in Michigan, US
    Marelli has announced plans to permanently close its Michigan lighting plant. According to a Worker Adjustment and Retraining Notification (WARN) notice on 27 July on the website of Mighigan.gov. Marelli Automotive Lighting USA will close its Clarkston, Michigan factory, affecting 263 employees. The...
    M&A: Fastned acquires EV charging network MisterGreen
    Dutch electric vehicle (EV) charging stations operator Fastned has acquired the fast-charging network of local vehicle leasing company MisterGreen Electric Lease, Fastned announced in a press release on 1 July. Fastned has acquired 100% of the shares in The Fast Charging Network B.V. from Misterg...
    M&A: dSPACE acquires real-time software developer Intempora
    Germany-based dSPACE has acquired real-time software developer Intempora, the Germany-based company said in a press release on 9 July. France-based Intempora has over 20 years of expertise in providing advanced software solutions for automotive industry. The company offers RTMAPS, a modular tool kit...
    M&A: French automotive supplier Delfingen to buy Schlemmer’s activities in Europe/Africa
    Delfingen has entered into a negotiation for the acquisition of Schlemmer’s business activities in Europe/Africa, the company said in a press release on 17 July. The acquisition would give Delfingen acccess to five factories in Germany, Romania, Russia, Morocco, and Tunisia which will have 1000 em...
    M&A: STMicroelectronics to acquire UWB specialist BeSpoon and cellular IoT connectivity assets of Riot Micro
    STMicroelectronics (ST) has announced two acquisitions to strengthen the wireless connectivity capabilities of its STM32 microcontrollers (MCUs), the company said in a press release on 16 July. ST has reached an agreement to acquire the entire share capital of BeSpoon, a France-based company special...
    Mullen Technologies raises funding to acquire EV manufacturing plant in the US
    Mullen Technologies has signed a letter of intent with Axiom Financial to raise USD135 million to acquire an electric vehicle (EV) manufacturing plant in the United States, the company announced in a press release on 13 July. The company expects to begin production by 2022 and enter the electric spo...
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