Under the share purchase agreement, Schaeffler India Limited will acquire all 100% shares of KRSV Innovative Auto Solutions Private Limited.
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The acquisition is valued at INR 103 crore, signaling Gulf Oil’s strategic move to strengthen its presence in the rapidly growing EV market.
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Estimates suggest that the strike could lead to operating losses amounting to up to 1 trillion won, thus exerting substantial financial pressure.
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This strategic move by BYD aims to broaden its customer base and product range while capitalizing on Jabil’s sectoral growth potential.
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As a significant aspect of the agreement, Xpeng is set to introduce an A-class model under a new brand, tentatively named MONA.
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SMEV points out that the Ministry has previously verified that the claimed subsidies were indeed passed on to customers and subsequently reimbursed to OEMs.
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This move comes in response to a proposal put forth by Tesla, which is evaluating entry into the Indian market, according to sources.
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Retail inventories are anticipated to witness a substantial 48.4% increase in August compared to the previous year.
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The decision comes after 2 months of negotiations with the company regarding wage increases and extending the retirement age hit an impasse.
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While the specific role at Nvidia hasn’t been disclosed, sources indicates Wu might assume the position of Head of Automotive Products.