This follows an initial agreement of purchase/sale signed on December 17, 2018, for 80.1 per cent of the equity to be procured by Hitachi.

Now called Spruce Power, the erstwhile retrofit firm has divested from the vehicle industry to focus on providing residential solar energy and EV charging services.

The Dutch automotive corporation has entered negotiations to acquire a substantial stake in the Michelin-Faurecia joint venture and expects to complete the transaction within the first six months of 2023.

Mullen has stated that these recent acquisitions will allow it to enter the commercial vehicle market much sooner than anticipated - as early as next year.

T&BB spoke to representatives of Saietta – a British e-powertrain developer – and its Dutch subsidiary (formerly known as e-Traction) about how the group came to make its first steps into the market for heavy-duty vehicles.

BorgWarner has announced it has agreed terms to buy existing power electronics manufacturing supplier, Bern-based Drivetek, for USD37 million, of which USD27 million was delivered at closing, with the additional USD10 million being paid over the next three years.

The acquisition, first proposed earlier this year by Meritor, was completed for a sum of approximately EUR 190m.

A period of some 18/19 months has elapsed following the decision and signed MoU by Tata Motors and Marcopolo for Tata Motors to buy the Brazilian company’s shares in the Indian bus building joint venture.

Globitas intend to strengthen Geesinknorba’s balance sheet and make new capital available to grow the company internationally.

The investment from British retailer, EG group, is intended for the production of a hydrogen fuel cell Heavy Goods Vehicle (HGV). 

SKF has said that Tenute, a firm based in Italy, will be integrated into its own Seals business.

The partnership with Bobang will strengthen Knorr-Bremse’s e-motor capabilities and develop further competencies in automated driving and electrification whilst Bobang plan on expanding its commercial vehicle product portfolio.