SNS Holding, Algeria, signs agreement with FAW Trucks On September 9, National Steel Company – SNS Holding, in a social media post, announced that it had signed several contracts at the IATF 2025 Trade Fair. It has signed an agreement with ALGERIA FAW TRUCKS INDUSTRIES (China) for the supply of spare parts (front and rear bumpers, front and rear lights, and electrical packages) to ANABIB Spa. It also signed an agreement with Mansour EMGS Algeri...

News  Updated at: 2025/09/11

NIB and Volvo Cars signs EUR 150 million loan to fund next-gen EV platform On September 4, Nordic Investment Bank (NIB) and Volvo Car AB signed an 8-year EUR 150 million loan agreement to support research and development for Volvo’s next-generation electric vehicle platform, SPA3, and the new EX60 model. The investment will take place between 2024 and 2026. The project supports Volvo Cars’ transition to an all-electric lineup. The SPA3 platfo...

News  Updated at: 2025/09/08

Uzavtosanoat and Sila Holding, Italy discuss production of components in Uzbekistan On August 13, Uzavtosanoat JSC held a meeting with Sila Holding Industriale SpA, one of the world's leading manufacturers of gearbox selectors and flexible automotive cable products. Sila is considering Uzbekistan as a promising location for high-tech production and the expansion of cooperation with local enterprises. During the negotiations, the parties discussed...

News  Updated at: 2025/08/18

NWTN, UAE acquires usage rights of JW Corporation's CKD plant in Pakistan On August 11, NWTN Inc. executed an Asset Contribution and Share Issuance Agreement (SPA) with Pakistan's industrial group JW Corporation. It grants NWTN exclusive usage rights to JW Corporation's complete knock-down (CKD) automotive assembly facility in Lahore's China-Pakistan Special Economic Zone (JW-SEZ) and access to JW Corporation's nationwide network of over 400 sale...

News  Updated at: 2025/08/11

illion ($4.4 billion) all cash voluntary tender offer to acquire IVECO’s Commercial Vehicle business (excluding its defence division), on July 30, 2025. The transaction is contingent on the sale of IVECO’s defence arm, Iveco Defence Vehicles (IDV), which is being divested separately to Leonardo SpA for €1.7 billion ($2.0 billion). Completion is expected by early 2026. The planned arrangement aims to preserve IVECO’s autonomy: its headqu...

News  Updated at: 2025/08/08

COSIDER Group and FAW partner on parts manufacturing in Algeria On July 27, the Ministry of Industry, Algeria SPA ALGERIA FAW TRUCKS INDUSTRIES, and COSIDER ALREM, a subsidiary of COSIDER Group, signed a partnership agreement to launch a project to produce spare parts for FAW vehicles and trucks. It will support local production, transferring technology, and creating value-added jobs, in addition to reducing dependence on imports. It represents a...

News  Updated at: 2025/07/28

Haoxin, China to acquire controlling interest in Officine Vica, Italy On June 20, Officine Vica SPA entered into an investment agreement with Haoxin Group under which Haoxin will acquire a controlling interest in Officine Vica SPA through the subscription of a capital increase. This strategic partnership is expected to enhance the company's capabilities and support new opportunities for sustainable growth and product innovation. Officine Vica SPA...

News  Updated at: 2025/06/23

ng in 2025. Volvo Cars is the first car maker to sign a supply agreement with SSAB for recycled, near-zero-emission steel for serial production deliveries. The recycled steel will be used in selected components of the forthcoming electric EX60 SUV, as well as other cars based on the next-generation SPA3 car architecture. This recycled steel meets the same safety-related requirements as primary steel in terms of strength and durability. Compared w...

News  Updated at: 2025/06/12

was the company’s bestselling model in 2024 at 230,900 vehicles, according to company figures. The plant in Ridgeville currently builds the electric EX90 and Polestar 3 SUVs, but Samuelsson previously said he wants to add more hybrid models to fill unused capacity.  Volvo ended production of the SPA-based S60 midsize sedan in Ridgeville in 2024, but it still has some of the tooling to make cars using that platform, which also underpins the XC6...

News  Updated at: 2025/06/05

ance Technologies Limited announced that it has remitted the full purchase consideration of approximately. INR 75 million for the acquisition of the remaining 38.50% equity stake in Maxwell Energy Systems Private Limited (Maxwell). This payment was made by the terms of the share purchase agreement (SPA) executed with the minority shareholders. With this transaction, Maxwell has become a wholly owned subsidiary of the company. This acquisition fol...

News  Updated at: 2025/05/19

mate charm of technology, the Lynk & Co 900 features a technological transverse interactive display and electric borderless doors, while offering five body color schemes and three interior options. It measures 5,240mm long, 1,999mm wide, and 1,800mm or 1,810mm high, with a wheelbase of 3,160mm. The SPA Evo (Scalable Product Architecture Evolution)-based Lynk & Co 900 has an intelligent electric 4WD layout. The 1.5T variants are equipped with a 14...

News  Updated at: 2025/05/09

sensors, and 1,400 TOPS computing power, enabling advanced L3-level driving capabilities. Lynk & Co’s upcoming 900 model has secured 40,000 pre-orders ahead of its April 28, 2025, launch. It has a 2.0T PHEV with a 3-speed DHT Pro and dual rear motors that deliver 650 kW total output. Built on the SPA Evo platform, the six-seater offers 88.2% space efficiency and rotating second-row seats for premium family flexibility. It features dual Qualcomm...

News  Updated at: 2025/04/24

SOKON, China discusses vehicle assembly plant with Governor of Batna, Algeria On April 19, the Government of Batna, in a social media update, announced that the Governor of Batna met with a delegation from SPA SOKON ALGERIE. SOKON is setting up a vehicle assembly plant in Zana El Beïda. In the first phase, it will assemble commercial and passenger vehicles using the SKD system. The project was granted land through a concession contract. The fact...

News  Updated at: 2025/04/22

ounced that its board of directors has approved the acquisition of a 24.16% equity stake in Axles India Limited from foreign promoter Dana Global Products Inc. for a total consideration not exceeding INR 1.83 billion.  To facilitate the acquisition, SFHL will enter into a share purchase agreement (SPA) with Dana Global Products Inc., and the transaction is expected to be completed on or before April 30, 2025. Following the completion of this acq...

News  Updated at: 2025/04/11

General Motors opens new advance design studio in UK On April 7, General Motors announced it has expanded its global design studio footprint with the official opening of a new advanced design studio in Royal Leamington Spa, about 20 miles from Birmingham. GM’s other global studios are in Warren, Michigan; Pasadena, California; Shanghai, China, and Seoul, South Korea. In connection with the new UK opening, GM revealed an advanced design study Ch...

News  Updated at: 2025/04/08

Endurance Technologies, India completes 60% acquisition of Stöferle GmbH and Stöferle Automotive, Germany On April 2, 2025, Endurance Technologies Limited announced that its Italian subsidiary, Endurance Overseas SpA (EOSpA), had received approval from antitrust authorities for its planned acquisition. Following this approval, EOSpA has completed the acquisition of a 60% stake in the target companies and has paid the agreed consideration of EUR...

News  Updated at: 2025/04/03

Endurance Technologies, India acquires the remaining 5% Stake in EOSpA, Italy On March 20, Endurance Technologies Limited announced that Endurance Overseas SpA (EOSpA), Italy, a wholly owned subsidiary of the company, bought back 5% of its equity shares from Endurance GmbH, Germany, another wholly owned subsidiary of the company. The buyback, completed on March 14, 2025, was executed for a consideration of EUR 8.5 million. Before the buyback, End...

News  Updated at: 2025/03/21

Technology (SMT), announced that they are intensifying their collaboration to advance the NanoIC pilot line at imec with state-of-the-art semiconductor technology and manufacturing expertise for sub-2nm research and development. Therefore, both parties have signed a Strategic Partnership Agreement (SPA). The signed Strategic Partnership Agreement extends the existing strategic partnership between imec and ZEISS, which has been in place since 2019...

News  Updated at: 2025/03/20

y a 10% tariff. “The question is, does it go as high as 25% because of Canada and Mexico? That may be the case,” Rowan said. Volvo is reviewing a range of scenarios to determine the best way to offset tariffs, including expanding output at its factory in Ridgeville, South Carolina, where it has spare capacity. “Our paint lines and everything else that we need to just put the platform in and start building a car is there,” Rowan said, noti...

News  Updated at: 2025/03/06

hich is now being delivered to customers. “The Iris lidar on ES90 will complement an advanced set of sensors and enable exceptional perception to help keep everyone safe inside and around the car,” said Alwin Bakkenes, Head of Software Engineering, Volvo Cars. The Volvo ES90 will use the latest SPA2 platform that underpins the Volvo EX90, with Luminar’s LiDAR seamlessly integrated into the roofline of the vehicle, with other advanced sensor...

News  Updated at: 2025/03/06