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.

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.

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.

Watèa was created by Michelin in 2021 to offer an LCV subscription service, helping clients with procuring vehicles and charging infrastructure and providing them with digital services.

Motherson Sumi Systems Ltd (MSSL), a subsidiary of SMI, which was previously contracted to operate DICVs facilities in Chennai, as part of the above transaction has signed a long-term agreement with DICV to supply it with complete frame assemblies.

BMZ has acquired a controlling shareholding in its battery cell holder supplier, Schutz Kunststofftechnik, essentially protecting its current supply chain.

GreenPower has entered into an agreement with Roth Capital Partners to raise capital through the sale of shares - the capital raised will be invested in new product development, increasing production capacity and sales.

Smart battery systems for sustainable electromobility, Forsee Power SAS of Paris has acquired shares in NEoT Capital from Mitsubishi Corporation giving it joint ownership with EDF.

Knorr-Bremse has announced that it has sold its 9.2% stake in Haldex to SAF-Holland, ending its financial interest in the Swedish brakes and suspensions manufacturer.

Knorr-Bremse AG, based in Munich, Germany, has announced it is to acquire the stake of Robert Bosch GmbH of Stuttgart in its European and Japanese commercial vehicle business.

Ford Motor Co, based in Dearborn, Michigan has announced that Ford Otomotiv Sanayi A.Ş. (Ford Otosan), based in Gölcük, Turkey, will assume control of its manufacturing plant in Craiova, Romania, subject to regulatory approval, in Q3 2022.

The transaction makes Cummins the sole owner of the 'Cummins Wesport Inc' joint venture specialising in spark ignition gas engines.