Blink Charging Co. announced the acquisition of Zemetric, a charging infrastructure company known for its tailored solutions for fleets. The deal is expected to close on or before July 11, 2025, subject to customary conditions. Founded in 2022 in Silicon Valley, Zemetric offers interoperable and reliable charging hardware, software and service solutions, having exceeded initial projections in its first year. Blink's president and CEO, Mike Battaglia, highlighted Zemetric's expertise in hig...

BP has entered into an agreement to sell its Mobility & Convenience and BP Pulse businesses in the Netherlands to Catom. This sale aligns with BP's $20 billion divestment program and is anticipated to finalize by the end of 2025, pending regulatory approvals. This transaction is part of BP's strategy to reshape its downstream businesses by focusing on integrated positions. The deal encompasses approximately 300 BP-owned or branded retail sites, including some locations with electric vehic...

Synopsys announced that it has received approval from all necessary authorities to proceed with the acquisition of Ansys, according to a press release on July 14. The parties have outlined that they expect to finalize the transaction around July 17, contingent on the satisfaction or waiver of the remaining customary closing conditions. The intention to acquire Ansys was initially announced by Synopsys on Jan. 16, 2024, and involves a stock and cash transaction. This acquisition will comb...

Toyota Tsusho America, a subsidiary of Toyota Tsusho Corp., has completed the acquisition of Radius Recycling, a North American recycling company with a network of over 100 locations. This acquisition contributes to Toyota Tsusho's strategic goals of promoting a circular economy focused on recycling within the automobile life cycle, moving toward carbon neutrality, and providing long-term value to various stakeholders. Naoyuki Hata, president and CEO of Toyota Tsusho America, highlighted that...

Energy Exploration Technologies Inc. (EnergyX), supported by General Motors, has entered a binding conditional agreement to acquire Daytona Lithium Pty. Ltd. from Pantera Lithium Ltd. for A$40 million. Daytona Lithium possesses 35,000 gross acres on the Arkansas side of the Smackover formation, which EnergyX regards as a promising lithium region in North America. EnergyX, based in San Juan, Puerto Rico, holds 12,500 acres on the Texas side and announced Project Lonestar in the Arkansas-Louisiana...

Gabriel India Ltd. will invest 268.3 million rupees (about $3.1 million) to acquire a 51% stake in Jinhap Automotive India Private Ltd. (JAIPL), forming a joint venture with South Korea's Jinos Co. Ltd., Autocar Professional reported July 9. The decision was made during Gabriel India's board meeting on July 9 to manufacture fasteners for the automotive and industrial sectors. With this investment, JAIPL will become a subsidiary of Gabriel India, while Jinos will retain a 49% stake. ...

ZF India Pvt. Ltd. and Somic Ishikawa Inc. have finalized an agreement to transfer 100% ownership of their joint venture, Somic ZF Components Pvt. Ltd., to the Japanese supplier, Autocar Professional reported July 9. This transaction marks the conclusion of a partnership that began over 30 years ago, although the financial details of the deal have not been disclosed by either party. With this acquisition, Somic Ishikawa will gain complete control over three manufacturing facilities in India t...

Zurich-based energy company Energie 360° has acquired electric vehicle charging service provider Move Mobility, strengthening its position in the electric mobility market in Switzerland. The acquisition increases the number of charging points managed by the Energie 360° mobility group to over 24,000 and its user base to over 250,000. Move Mobility will be integrated into the Energie 360° group but will keep its independent brand identity, similar to other brands in the group such...

In a press release on July 8, GlobalFoundries announced a definitive agreement to acquire MIPS, a supplier of AI and processor intellectual property (IP). The acquisition aims to enhance GlobalFoundries' portfolio of customizable IP offerings, allowing it to further differentiate its process technologies with enhanced IP and software capabilities. MIPS recently expanded its processor IP offerings based on the open RISC-V specification, launching the Atlas portfolio, a suite of compute cores f...

On July 4, Finland-based software company Qt Group announced a public offer to acquire Sweden-based embedded software solution provider I.A.R. Systems Group AB. Qt Group, through its wholly owned subsidiary The Qt Company Ltd. offered to pay the shareholders of Class B shares of I.A.R. Systems at a rate of 180 kronor (about $18.87) per share, valuing the Swedish company at approximately 2.3 billion kronor. This offer presents a premium of 63.6% compared to the average...

Bridgestone Corp. has reached an agreement to sell the carbon black business in Thailand, operated by the wholly owned subsidiary Bridgestone Carbon Black (Thailand) Co. Ltd., to Tokai Carbon Co. Ltd. and Thai Tokai Carbon Product Co. Ltd. According to the Japanese tiremaker, the divestment is its strategy to enhance its global business by “turning changes into opportunities” and focusing on “growth with quality.” Bridgestone aimed to improve its premium tire business by increa...

Lyten, a US-based company specializing in supermaterial applications and lithium-sulfur batteries, plans to acquire Northvolt's Dwa ESS operations in Gdansk, Poland. The battery plant, which was part of Northvolt Systems, is the largest battery energy storage systems (BESS) manufacturing and research and development facility in Europe. Both companies have not disclosed the financial details of the acquisition. The deal will facilitate Lyten's expansion into the European market and enhance its...

Harman International, a subsidiary of the South Korea-based conglomerate Samsung Electronics, has announced the acquisition of Cipia, an Israel-based supplier of driver and occupancy monitoring systems for the global automotive industry. The completion of the acquisition is subject to customary closing conditions and regulatory approvals. The acquisition is part of Harman's strategic expansion of its in-cabin experience portfolio, and it builds on the successful collaborat...

Travis Kalanick, the former CEO and co-founder of Uber Technologies, is reportedly considering acquiring the US division of Pony AI, a mainland China-based autonomous driving company, several media outlets reported last week. According to The New York Times, Kalanick is working with investors to secure funding for the acquisition, with Uber potentially playing a role in facilitating the transaction. However, the discussions are still in preliminary stages. The financial details of the poten...

CarUX, a provider of smart cockpit solutions and a subsidiary of Taiwan-based display maker Innolux Corp., has announced that it will acquire Japan’s Pioneer Corporation in a deal valued at ¥163.6 billion (approximately $1.1 billion), as reported by Reuters. CarUX stated it has entered into a definitive agreement with global investment firm EQT to acquire a 100% stake in Pioneer. The acquisition is expected to strengthen CarUX’s footprint in the Asia-Pacific market and expand its globa...

Motive, an AI-powered Integrated Operations Platform, has acquired InceptEV, a software startup from Carnegie Mellon University. InceptEV specializes in advanced battery intelligence and machine learning to aid companies in making informed electric vehicle investment decisions. This acquisition enables Motive to integrate patented battery intelligence software into its commercial fleet management platform, offering operations managers enhanced insights into EV performance. Venkat Viswanathan,...

On June 18, Mutares signed an agreement to acquire Continental's drum brakes manufacturing plant and research and development facility in Cairo Montenotte, Italy. As part of the agreement, the Germany-based private equity firm will take over all Continental employees and business activities at the Cairo Montenotte site. The acquisition's conclusion is contingent upon customary closing conditions and approvals and is expected to be finalized in the fourth quarter of 2025. The Cairo M...

Chevron U.S.A. Inc., a subsidiary of Chevron Corp., announced its entry into the domestic lithium sector to bolster US energy security. This move involves the acquisition of two leasehold acreage positions, one from TerraVolta Resources, associated with The Energy & Minerals Group, and another from East Texas Natural Resources LLC. The leased areas cover approximately 125,000 net acres located in regions with the Smackover Formation, which spans Northeast Texas and Southwest Arkansas and ...

ArcelorMittal has completed the acquisition of Nippon Steel Corp.'s 50% equity stake in AM/NS Calvert, with ArcelorMittal already owning the remaining portion. The facility, now known as ArcelorMittal Calvert, was initially purchased by ArcelorMittal and Nippon Steel Corp. in 2014 from ThyssenKrupp for $1.55 billion, with the plant originally built at a cost of $5 billion and commencing operations in 2010. It holds a steel capacity of 5.3 million metric metric tons annually and is considered one...

Italian powertrain components manufacturer Officine Vica announced June 13 that it signed a strategic investment agreement with mainland China’s Haoxin Group. Under the agreement, mainland Chinese automotive parts and precision castings company Haoxin Group will acquire a controlling interest in the Rivoli-headquartered supplier through the subscription of a capital increase. This strategic partnership will enhance Officine Vica’s new product development capabilities and support opport...

Nippon Steel Corp. and United States Steel Corp. have finalized a significant partnership, concluding an 18-month process marked by political scrutiny and national security considerations. Under the terms of the $14.9 billion agreement, Nippon Steel has acquired all outstanding shares of U.S. Steel at $55 per share, while U.S. Steel will retain its iconic name and headquarters in Pittsburgh, Pennsylvania. The steel produced will continue to be “mined, melted and made” in the US, pr...

NXP Semiconductors announced the completion of its acquisition of TTTech Auto, a supplier of middleware for software-defined vehicles (SDVs), as reported in a press release on June 17. This acquisition follows an agreement announced in January. The combination of NXP's CoreRide platform and TTTech Auto's MotionWise safety middleware is designed to help automakers address integration challenges related to software and hardware. It aims to simplify development processes, enhance scalability a...

Dana has reached a definitive agreement to sell its Off-Highway business to Allison Transmission for $2.7 billion, the US-based supplier said in a press release on June 11. This deal is expected to close in the fourth quarter of 2025, pending customary regulatory approvals and closing conditions. The sale aligns with Dana's strategy to focus on being a supplier for on-highway light and commercial-vehicle customers, offering both traditional and electrified systems. After accounting for taxes,...

In a press release on June 5, Plus Automation Inc. (Plus), a Physical AI company specializing in AI-based virtual driver software for autonomous trucks, and Churchill Capital Corp IX, a special purpose acquisition company, announced a definitive business combination agreement. Once finalized, the merged entity will operate under the name PlusAI. Founded in Silicon Valley, California, US, in 2016, Plus focuses on developing virtual driver systems through AI models for scalable, adaptive a...

According to a press release on June 5, Qualcomm Inc. announced that its subsidiary, Qualcomm Technologies Inc., has finalized the acquisition of Autotalks, a notable entity in the realm of direct vehicle-to-everything (V2X) communication solutions. V2X technology is pivotal for improving road safety and enhancing transportation efficiency. The acquisition allows automakers and related sectors to access a comprehensive range of production-ready, automotive-qualified global V2X solutions ...

In a bid to advance its transformation into a mobility company, Toyota Group announced a planned tender offer for the shares of Toyota Industries Corp., involving Toyota Motor Corp., Aisin Corp., DENSO Corp. and Toyota Tsusho Corp. These transactions aim to privatize Toyota Industries. A new holding company will be created, with Toyota Fudosan investing approximately ¥180 billion (about $1.26 billion) and Akio Toyoda committing ¥1 billion. Toyota Motor plans to invest about ¥700 billion in...

On May 23, US President Donald Trump announced a partnership between US Steel and Nippon Steel without explicitly endorsing the previously announced takeover of the US-based steelmaker by the Japanese rival. “I am proud to announce that, after much consideration and negotiation, US Steel remains in America and keeps its headquarters in the great city of Pittsburgh,” Trump said on his Truth Social platform. “My tariff policies will ensure that stee...

Goodyear Tire & Rubber has reached a definitive agreement to sell the majority of its Goodyear Chemical business to Gemspring Capital Management. Goodyear Chemical specializes in the production and supply of synthetic rubber with a broad product portfolio that serves the automotive aftermarket and consumer and industrial markets in North America. This sale aligns with the strategic review of Goodyear's Chemical business as part of the Goodyear Forward transformation plan....

Rio Tinto and Codelco have entered into a joint venture agreement to develop a high-grade lithium project in Chile's Salar de Maricunga. This collaboration is part of their strategic partnership aimed at enhancing their roles as suppliers of materials crucial for the global energy transition. The Salar de Maricunga, located in the Atacama region, is recognized for its large resource base with high lithium content, offering potential for scalable and economical production. Under the agreement,...

Lumax Auto Technologies Ltd., part of India-based auto component supplier Lumax DK Jain Group, has announced its plan to acquire the remaining 25% stake in IAC International Automotive India Pvt. Ltd. (IAC India) from IACG Holdings LUX SARL. This acquisition, valued at 2.21 billion rupees (about $25.8 million), will make IAC India a wholly owned subsidiary of Lumax Auto, enhancing its position in the automotive interior systems sector. With this transaction, Lumax Auto, which already&n...

Gabriel India Ltd., the flagship company of India-based Anand Group, expanded its manufacturing capabilities through the strategic acquisition of assets from Marelli Motherson Auto Suspension Parts Pvt. Ltd., a joint venture between Marelli and Samvardhana Motherson International Ltd. The acquisition, finalized April 1, provides Gabriel India with additional annual production capacities of 3.2 million shock absorbers and 1 million gas spring units. It is also expected to expand Gabriel India'...

Geely Automobile Holdings is proposing to take its premium electric vehicle unit Zeekr private, a year after Zeekr's public debut in the US. Geely has submitted a non-binding offer to Zeekr on May 7 to acquire all issued and outstanding shares and American depositary shares (ADS) at $2.57 per share or $25.66 per ADS. According to the company, this offer represents a 13.6% premium to Zeekr's recent closing price in the US and a 20.0% premium to its volume-weighted average price over ...

Germany-based supplier of industrial connectors and electric vehicle charging solutions Mennekes plans to foray into the DC charging systems business by strategically expanding its portfolio with a new product segment, the company announced May 6. Mennekes’ foray into the DC charging systems business comes on the back of the acquisition of the Munich-based startup Charge-V, part of the Vispiron Group. As part of the deal, Mennekes will acquire all the assets of Charge-V. Notably, Ch...

Nuvve Holding Corp., a firm specializing in vehicle-to-grid (V2G) technology and grid modernization, has acquired substantially all of Fermata Energy LLC's assets through its subsidiary, Fermata Energy II LLC (Fermata 2.0). The acquisition aims to enhance Nuvve's intellectual property, expand customer reach and accelerate revenue growth by uniting two significant V2G innovators. The transaction involved issuing 4.9 million shares of convertible preferred stock to Fermata's previous debt holde...

Gridline Inc., based in Scottsdale, Arizona, announced its acquisition of Shell Telematics, a move that aims to strengthen Gridline's market position in the telematics and data solutions sector and expand its offerings. This strategic acquisition is expected to boost Gridline's service capabilities, enabling the company to leverage Shell's established customer base along with its own innovative technologies to enhance fleet management services. The acquisition focuses on emerging trends in fleet...

Acciona Energía has advanced its electric mobility strategy by acquiring Cable Energía, which operates the Shell Recharge network in Spain and Portugal outside of Shell's service stations. This acquisition includes 396 charging points distributed across the Iberian Peninsula in high-traffic areas such as restaurants, shopping centers, supermarkets, hotels and highways. Additionally, the deal features a development pipeline with 321 charging points in the process of grid connection or s...

Samvardhana Motherson International Ltd. (SAMIL), a global supplier of automotive components headquartered in India, has successfully completed the acquisition of Baldi Industria E Comercio Ltda., a Brazil-based automotive component manufacturer, Autocar Professional reported May 3. This acquisition, first announced in December 2024, was executed through SMP Automotive Produtos Automotivos Do Brasil Ltda. (SMP Brasil), a wholly owned subsidiary of Samvardhana Motherson Automotive Systems Group B...

Toyota Motor is exploring the possibility of investing in a potential buyout of Toyota Industries, Reuters reported April 27. “We are currently exploring various possibilities, including partial investment,” the Japanese automaker confirmed in a regulatory filing with the Tokyo Stock Exchange on April 26. Meanwhile, a report from Bloomberg on April 25 said that Akio Toyoda, chairman of Toyota Motor, and his founding family have proposed to acquire Toyota Industries for ¥6 trillion (...

Avia Volt, a leading electric vehicle charging solutions company that also operates as one of the largest gas refuelling station operators in Switzerland, has acquired the EV charging infrastructure provider Plug'N Roll from Repower, the company announced April 24. This acquisition will help Avia Volt in expanding its EV charging infrastructure in Switzerland by 2,345 EV charging points. The deal is also expected to benefit the existing customers of Plug’N Roll by providing them the access ...

Global Technologies has completed the acquisition of 100% of Novares Group, a France-based supplier of automotive plastic parts, from its previous owners — Equistone, Bpi France and other minority shareholders. This acquisition marks a significant milestone for Novares, which is expected to enhance its position in the automotive market. Novares specializes in automotive exteriors and interior parts as well as powertrain, including electric powertrain components. The company said one in ever...

ABC Technologies has successfully completed the acquisition of TI Fluid Systems for an enterprise value exceeding £1.8 billion. The company has also decided to rebrand the combined business as TI Automotive, saying the new name aligns with both companies' legacies of outstanding engineering, employee dedication and customer service. The merger, first announced in November 2024, unites two companies that are highly complementary, establishing a more robust and diverse tier 1 manufacturer...

Intellihub Group, through its subsidiary EVSE, one of the leading providers of electric vehicle charging solutions in Australia, has strategically acquired the Australian and New Zealand EV charging network from Engie, a global energy and services group. This acquisition has significantly expanded EVSE's public charging network by adding over 200 new locations, including high-traffic sites such as Chadstone, the largest shopping center in Victoria, Australia; and Chatswood Chase in Sydney, ...

Piedmont Lithium Inc., a key supplier of lithium products in North America, and Sayona Mining Ltd. have provided an update on their proposed merger initially announced Nov. 19, 2024. This merger is set to create a leading lithium business named Elevra Lithium, pending the completion of the transaction and approval from Sayona shareholders. The formation of Elevra Lithium's board of directors has been detailed, comprising four nominees each from Piedmont and Sayona's boards. However,...

Infineon Technologies AG, based in Neubiberg, Germany, has announced its acquisition of Marvell Technology's Automotive Ethernet business for $2.5 billion in cash. This strategic move is aimed at enhancing Infineon's capabilities in the automotive sector, particularly in the area of software-defined vehicles, by integrating Marvell's automotive Ethernet technology with Infineon's existing portfolio of automotive microcontrollers. The acquisition is expected to generate revenue between $225 milli...

Finnish Minerals Group has become the sole owner of CNGR Finland after CNGR Advanced Material Ltd. decided to exit the planned precursor cathode active material (pCAM) plant project in Hamina, Finland, due to challenging market conditions globally. Previously, Finnish Minerals Group held a 40% minority stake in CNGR Finland. The departure of CNGR Advanced Material Ltd. is attributed to the significant overcapacity of precursor materials in China and the Pacific region, compounded by tariffs f...

Specialty chemicals company Lanxess has successfully completed the sale of its Urethane Systems business to Japan-based chemical product manufacturer UBE Corp. This transaction, which was first announced in October 2024, received approval from all relevant antitrust authorities. The company received gross cash proceeds of approximately €500 million from the sale, with the enterprise value of the deal being pegged at €460 million. Lanxess’ Urethane Systems business special...

LG Energy Solution (LGES) has announced that its US subsidiary will purchase the assets of its electric vehicle battery joint venture with General Motors (GM) in Michigan, US, for $2 billion. This deal, expected to close on May 31, may undergo adjustments in value following due diligence, according to an announcement made by the EV battery manufacturer. The move comes as GM has been reconsidering its EV strategy, influenced by uncertainties concerning EV battery production's future and consum...

EcoPro Materials, a precursor production subsidiary of EcoPro Group, has made a significant move into the nickel smelting sector by securing a 400 billion won (about $271 million) investment aimed at expanding its operations into Indonesia. The company recently raised 389 billion won through a third-party allotment capital increase, with a major portion of this funding dedicated to acquiring a 28% stake in the Indonesian nickel smelting company PT. Green Eco Nickel, as well as for operational ex...

On Jan. 29, American Axle & Manufacturing (AAM) entered into a definitive agreement to acquire Dowlais Group through a combination of cash and stock, which values the UK-based firm at approximately $1.44 billion. Dowlais Group owns GKN Automotive and GKN Powder Metallurgy. Following shareholder and regulatory approvals, the transaction is anticipated to close by the fourth quarter of 2025. Potential synergies of AAM-Dowlais deal a.  AAM’s current business scenario AAM’s bus...

Voxx International has completed its previously announced sale to Gentex Corp. The two companies entered a definitive agreement and planned to merge in December 2024. Under the agreement, Gentex agreed to purchase Voxx in an all-cash transaction valued at $7.50 per share. The acquisition was finalized after a special meeting held by Voxx on March 31, where stockholders voted in favor of the merger, with regulatory and stockholder approvals in place. Voxx Chairman Ari Shalam expressed gratitud...

SEALSQ Corp., a Nasdaq-listed company specializing in semiconductors, PKI and post-quantum technology, has announced a strategic collaboration with IC'ALPS, an application-specific integrated circuit (ASIC) design house known for its expertise in custom integrated circuits compliant with IATF16949 standards and functional safety for ISO 26262. This partnership comes on the heels of SEALSQ's announcement in February of entering into exclusive negotiations for acquiring IC'ALPS. The acquisiti...

LG Energy Solution (LGES) has assumed full ownership and control of the $2.5 billion electric vehicle (EV) battery plant located in Lansing and Delta Township, Michigan, following the acquisition of General Motors's interest in the project. This transition was facilitated by the Michigan Strategic Fund Board, which approved amendments transferring a $120 million performance-based grant originally designated for Ultium Cells LLC to LGES. Ultium Cells was a joint venture between GM and LGES. Wi...

Tata AutoComp Systems, an Indian automotive components manufacturer within the Tata Group, has completed the acquisition of an 80% stake in Artifex Interior Systems Limited, previously known as IAC UK. The acquisition was carried through Tata Motors’ wholly owned subsidiary Jaguar Land Rover Ventures Limited (JLRV). This transaction, executed on March 28, 2025, involved a payment of £77 million with a potential additional deferred consideration of £6.3 million, based on certain conditions...

Tata AutoComp Systems has announced it will acquire International Automotive Components Group Sweden AB (IAC Sweden), in a bid to strengthen its presence in Europe's automotive sector. The company, however, did not disclose any financial details. IAC Sweden has a turnover of approximately $800 million and is a well-established manufacturer of interior systems and components to the automotive industry. The transaction is subject to European regulatory approvals, according to Tata AutoComp. "This ...

UK-based electric vehicle charge-point operator (CPO) Believ has acquired the assets of Switch EV, a cloud-based charge-point management solutions provider, to build new capabilities to meet the future EV infrastructure requirements of local authorities, businesses, landowners and EV drivers, according to a news report published by The Energyst on March 24. According to the news report, Switch EV’s scalable platform is designed to provide real-time charger data to support CPOs in incre...

The board of directors of Indian auto components supplier Sandhar Technologies has approved the acquisition of the high-pressure and low-pressure aluminum die-casting businesses of Sundaram-Clayton Ltd. (SCL) at its Hosur, India, plant. The acquisition was made through Sandhar Ascast Pvt. Ltd., a wholly owned subsidiary of Sandhar Technologies, through a slump sale. In February, the SCL board decided to sell its aluminum die-casting businesses at its Hosur plant. The operations approved ...

Jay Bharat Maruti Ltd. (JBML) has increased its ownership in JBM Ogihara Die-Tech (P) Ltd. (JODT) from 39% to 49% by buying additional equity from its joint venture partner, Ogihara Thailand Co. Ltd. (OTC). This strategic move is aimed at strengthening JBML's production capabilities, particularly in the production of high-tensile and critical body-in-white (BIW) dies. JODT, a JV between JBML, JBM Auto Ltd. and OTC, specializes in the production and selling of press-stamping dies.  ...

Rio Tinto announced March 6 that the company has completed its acquisition of Arcadium Lithium PLC for $6.7 billion, following the sanctioning of the Scheme of Arrangement by the Royal Court of Jersey on March 5. Post this acquisition, Rio Tinto has become the ultimate parent company of Arcadium Lithium, which will become Rio Tinto Lithium, and will also include the Rincon lithium project. The acquisition establishes Rio Tinto as a global leader in the supply of energy transition materials...

Porsche has acquired majority stake in V4Drive from Varta and rebranded it as V4Smart, the carmaker said in a press release on March 4. According to the German sports-car company, the new name reflects the potential applications of V4Smart’s high-performance lithium-ion cylindrical cells well beyond the automotive sector. V4Smart’s cylindrical cells have already been integrated into Porsche's 911 GTS models as booster cells, improving the sports car's driving performance. The cells are pr...

Automotive supplier Sundaram-Clayton Ltd. (SCL) has decided to sell its aluminum die-casting businesses at its Hosur plant in Tamil Nadu, India. This decision was taken by SCL’s board of directors on Feb. 19, with the intention to divest both high-pressure and low-pressure aluminum die-casting operations. The specifics of the deal, including the buyer's identity and the sale consideration, are yet to be determined. The completion of any transaction is contingent upon receiving necessary regula...

Toyo Tire’s net profit increased 3.5 % year over year to ¥74.8 billion (about $475 million) in the financial year ended Dec. 31, 2024, driven by a 2.3% year-over-year growth in net sales to ¥565.4 billion. Higher sales also helped the Japanese tiremaker to record a 22.2% year-over-year increase in operating income to ¥94 billion. Toyo Tire witnessed a 4.3% year-over-year decline in net sales in Japan to ¥116.9 billion. However, the company recorded strong growth in overseas markets, esp...

Atlas Holdings has reached an agreement to acquire SRG Global, a major supplier of decorative trim systems for the automotive market, through an affiliate. The specifics of the financial aspects of the deal were not disclosed, but the transaction is expected to be finalized by early 2025, pending the fulfillment of standard closing conditions and obtaining regulatory approval. SRG Global, with its headquarters in Troy, Michigan, operates manufacturing sites across North America, Western and C...

Northvolt, a developer and manufacturer of battery systems, has entered into a Sale and Purchase Agreement for the acquisition of its Northvolt Systems Industrial division by an unspecified leading industrial group. The division, created by Northvolt in 2018, specializes in supplying battery modules and systems to various industries such as material handling, construction equipment, mining, agriculture and municipal services. It currently operates with about 300 employees across a prototyping...

Platform Science has announced the completion of its acquisition of Trimble’s global transportation telematics business units. The deal was first announced in September 2024 during the Trimble Insight Tech Conference in Las Vegas. As part of the transaction, Trimble becomes a shareholder in Platform Science’s expanded business and receives a seat on Platform Science’s board of directors. Trimble joins C.R. England, Cummins, Daimler Truck, PACCAR, Prologis, RyderVentures and Schneider as a ...

Arcadium Lithium PLC, a prominent lithium chemicals producer operating globally, has announced receiving all necessary regulatory approvals for its acquisition by mining giant Rio Tinto. This development follows the initial announcement of the transaction in October 2024. The approvals span across major jurisdictions including Australia, Canada, China, Japan, South Korea, the UK and the US, covering both merger control clearances and investment screening in certain countries. A court hearing ...

EasyPark Group has successfully completed its acquisition of Parkopedia, a significant move that positions the combined entity as a powerhouse in digital parking and mobility solutions with global reach. This merger is lauded for creating an integrated driving experience powered by precise data and extensive payment capabilities. Cameron Clayton, CEO of EasyPark Group, emphasizes the enhanced seamlessness of the driver journey this acquisition brings, highlighting the integration of Parkopedia's...

SK On, the battery manufacturing arm of South Korea's SK Group, has announced the completion of a groundbreaking three-way merger, positioning itself as a global battery and trading company aimed at fostering sustainable growth through enhanced synergies. This strategic merger involves SK On, previously the world's fifth-largest electric vehicle battery-maker, joining forces with SK Enterm, following an earlier merger with SK Trading International in November 2024. The consolidation under the...

As reported in a press release on Feb. 4, General Motors (GM) has successfully completed its acquisition of GM Cruise Holdings LLC, making Cruise a wholly-owned subsidiary of GM, following the approval of GM's merger proposal by the Cruise board of directors. This acquisition positions Cruise to work closely with GM on the development of autonomous vehicle technology and advanced driver assistance systems for personal vehicles. GM plans to incorporate Cruise's technology into its Super Cruise...

The European Commission has approved the acquisition of REHAU Automotive by the US-based private equity firm Atlas Holdings. In October 2024, Switzerland-based REHAU Group entered a definitive agreement to sell REHAU Automotive to Atlas. The transaction is expected to be completed by the end of the first quarter of 2025. REHAU Automotive supplies vehicle exterior products including bumper and polymer functional systems. The company operates at 25 locations in nine countries, employing 7,000 p...

Lear Corp. has announced the acquisition of StoneShield Engineering, a privately-owned system integrator, based in Castelo Branco, Portugal. Established in 2017, StoneShield Engineering has carved a niche for itself in the automation technology landscape, particularly within the wire harness industry. Its core capabilities include robotics, automated taping applications and high-voltage harness assembly. This acquisition aligns with Lear's Innovative, Digital, Engineered and Automated (IDEA) ...

Italy-based sealing solutions suppliers Argomm Group and Gapi Group have agreed to merge their businesses. The merger, scheduled to be completed in June 2025, is expected to help the Italy-based companies expand their range of products and services, optimize operational synergies, improve efficiency, and strengthen their global presence. The proposed merger will create a key player in the sealing systems business in Europe with a consolidated turnover of €220 million and 1,745 employees. Th...

On Jan. 29, American Axle & Manufacturing (AAM) signed a definitive agreement to acquire Dowlais Group in a cash and stock deal, valuing the UK-based company at about $1.44 billion. Dowlais Group is the owner of GKN Automotive, a leader in automotive drive systems, and GKN Powder Metallurgy, a leading supplier of sintered metal products and manufacturer of atomized metal powder.  The acquisition will create a leader in global driveline and metal-forming supply with a comprehensive an...

Volvo Cars and Northvolt AB have signed a share purchase agreement relating to Northvolt’s shares in NOVO Energy AB, leading to Volvo Cars taking full ownership of NOVO Energy AB, the carmaker announced Jan. 29. Volvo Cars’ acquisition of NOVO Energy is subject to clearance from the United States Bankruptcy Court for the Southern District of Texas and the Inspectorate of Strategic Products in Sweden, with both parties responsible for fulfilling agreed prerequisites. The transaction wil...

Koito Manufacturing has completed the acquisition of US-based Lidar specialist Cepton. The acquisition, finalized on Jan. 7, transforms Cepton into a private, indirect subsidiary of Koito, with its headquarters remaining in San Jose, California. Following the acquisition, Cepton's shares were delisted from the Nasdaq, with each share of Cepton common stock being converted to $3.17 in cash, marking a significant milestone in the journey of both companies toward reshaping the landscape of automoti...