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The Ferrero Group, a major player in the confectionery industry, has recently announced its acquisition of WK Kellogg in an all-cash transaction amounting to US$3.1 billion. This significant development marks a critical milestone in Ferrero’s ongoing…
Chinese electric vehicle (EV) manufacturer Nio said on Monday that it had no intentions to raise prices in the short term, but that it would be flexible on its decision making given evolving circumstances. Nio said in a statement that raw material prices and…
Luxury carmaker Mercedes-Benz will partner with self-driving sensor maker Luminar Technologies Inc to enable fully automated driving on highways for its next-generation vehicles, Luminar’s founder said. Luminar shares surged 18% at $15.89 on Thursday. Luminar…
Toyota, Nissan, Honda and other Japanese automakers scrambled on Monday to assess the production impact of a fire at a Renesas Electronics automotive chip plant that could aggravate a global semiconductor shortage. “We are gathering information and trying to…
Famous car designer and the Chairman and CEO of Fisker Inc., Henrik Fisker, recently confirmed that its next product could be a lifestyle EV truck. He is known for some of the iconic cars such as BMW Z8, Aston Martin DB9, Aston Martin V8 Vantage, and Fisker…
Chinese automakers Great Wall Motor and Changan Automobile are accelerating plans to build cars in India after the initial success of rival SAIC Motor in one of the world’s biggest markets, three sources said. Great Wall, one of the biggest sellers of…
Slumping sales of cars and motorcycles are triggering massive job cuts in India’s auto sector, with many companies forced to shut down factories for days and axe shifts, multiple sources said. The cull has been so extensive that one senior industry source…
Chinese photo app and mobile phone maker Meitu Inc is set to launch an up to $735 million initial public offering in Hong Kong, IFR reported on Monday, citing people close to the deal. Meitu, better known for its apps that let users retouch and beautify…
