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Mahindra & Mahindra has increased its stake in its partnership with SsangYong, the company has informed in a BSE (Bombay Stock Exchange) filing. Responding to the offer given by the Korean carmaker to increase its shareholding in the company, Mahindra has further invested 50 billion KRW (around Rs. 316.5 crore) in SsangYong subscribing to 1,18,90,606 equity shares of SYMC (SsangYong's parent company) at a price of KRW 4,205 per equity share. Mahindra's stake in the partnership has now gone up by 2.19 per cent to 74.65 per cent from 72.46 per cent. The company will be paying off the amount to complete the acquisition by February 24, 2019.
Mahindra Strengthens Its Position In SsangYong
Calender
Jan 17, 2019 05:20 PM
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1 mins read
Mahindra & Mahindra has increased its stake in its partnership with SsangYong, the company has informed in a BSE (Bombay Stock Exchange) filing. Responding to the offer given by the Korean carmaker to increase its shareholding in the company, Mahindra has further invested 50 billion KRW (around Rs. 316.5 crore) in SsangYong subscribing to 1,18,90,606 equity shares of SYMC (SsangYong's parent company) at a price of KRW 4,205 per equity share. Mahindra's stake in the partnership has now gone up by 2.19 per cent to 74.65 per cent from 72.46 per cent. The company will be paying off the amount to complete the acquisition by February 24, 2019.
2020 BMW 7 Series Facelift Unveiled
2020 BMW 7 Series Facelift Unveiled
calender
Jan 17, 2019 03:10 PM
BMW has taken the wraps off the new 7 Series facelift which has received some major design tweaks. Well! They say the bigger, the better but BMW has taken it too seriously this time. The most apparent of all the design changes is the massive kidney grille which is 40 per cent larger than the one on the outgoing model. It looks too imposing and straight out of the X7 without a bit of shredding and appears to be obnoxious as imposing is not what you want on a sedan. The new bumper now gets a narrow 'V' above the air dam to incorporate the grille making just about the area to fit in the number plate. Though the sides of the bumper look more beautiful in the way they have been moulded deeper into the overhangs.
2022 Ford Ecosport Spotted For The First Time
2022 Ford Ecosport Spotted For The First Time
calender
Jan 17, 2019 01:42 AM
A new set of spy pictures surfaced online have revealed the 2020 Ford Ecosport which was being tested near Ford's European headquarters in Cologne. The all-new Ford Ecosport in silhouette looks nothing like the existing model which is on sale in our market as Ford has done away with the squared SUV looks and has given it more of a crossover appeal. If anything to mention, the next-generation Ford Ecosport looks like a baby Porsche Macan with a wider grille, swept back headlamps housing and tapering roofline. Though, people would also argue for the design to be inspired by the Ford Focus hatchback.
Japan Court Denies Carlos Ghosn's Latest Bail Request
Japan Court Denies Carlos Ghosn's Latest Bail Request
calender
Jan 16, 2019 09:34 PM
Carlos Ghosn's latest bid to be released on bail was rejected by a Tokyo court, leaving the fallen car titan behind bars for at least another two months as prosecutors continue to build their case against him for financial crimes. Ghosn's lawyers had submitted the bail application last week after the former Nissan Motor Co. chairman was indicted for a second time, over allegations he transferred personal trading losses to the carmaker. Prosecutors have said his current period of detention lasts until March 10, but Ghosn's chief lawyer, Motonari Otsuru, flagged last week that the executive could remain behind bars until his trial, which could be six months away.
Audi Restarts Operations In Gurugram With A New Dealer
Audi Restarts Operations In Gurugram With A New Dealer
calender
Jan 16, 2019 08:52 PM
The northern region has been the largest market for Audi in India and Gurugram has been the integral part of it going by the prominence of the 'four-ring' badge in the city. However, for the last six months, the German carmaker wasn't operational in the market pertaining to a fraud committed by the previous dealers. But Audi India has now resumed operations in Gurugram and has given the franchise to new dealers- Kristan Auto who will be retailing Audi cars in Gurugram and will be taking care of the aftersales service for Audi now onwards.
2019 Skoda Superb Corporate Edition Launched In India; Priced At Rs. 23.99 Lakh
2019 Skoda Superb Corporate Edition Launched In India; Priced At Rs. 23.99 Lakh
calender
Jan 17, 2019 06:04 PM
koda Auto has kick-started the new year with a bang with the launch of the Superb Corporate Edition in India. The Skoda Superb Corporate Edition is priced at Rs. 23.99 lakh (ex-showroom) and is exclusively for Skoda customers, according to the company. The Corporate Edition caters to the demand of a modern design, high degree of functionality and generous proportions, while being priced attractively. Skoda calls the special edition model a value for money proposition.
2019 Detroit Auto Show: 2020 Volkswagen Passat Showcased
2019 Detroit Auto Show: 2020 Volkswagen Passat Showcased
calender
Jan 16, 2019 06:39 PM
The new 2020 Volkswagen Passat sedan has finally made its public debut at the ongoing North American International Auto Show a.k.a. Detroit Auto Show. The US-spec, new-generation Volkswagen Passat comes with a bolder design, new and updated technology, and enhanced convenience and driver-assistance features.
SIAM Expects Budget Council To Cut Tax Rates On CKD Components In The Upcoming Budget Session
SIAM Expects Budget Council To Cut Tax Rates On CKD Components In The Upcoming Budget Session
calender
Jan 15, 2019 11:06 PM
The move could give a strong push to the passenger vehicles sales which otherwise have been cruising in the slow lane in the second and third quarter of Fiscal Year 2018-19 and the industry isn't expecting the performance to improve significantly even in the last quarter. Moreover, luxury carmakers like Mercedes-Benz, BMW, Audi, Volvo and Jaguar Land Rover who generally use a high level of export components in locally assembled models would be the major gainers from such a move.
2020 Toyota Supra Unveiled At 2019 Detroit Auto Show
2020 Toyota Supra Unveiled At 2019 Detroit Auto Show
calender
Jan 15, 2019 07:34 PM
After 17 years, the Toyota Supra is back and it looks oh so sexy! And no, it is not coming to India.