Abu Dhabi Investor Purchases McLaren Automotive

Abu Dhabi-based CYVN Holdings has reached an agreement to buy McLaren Automotive, with the promise of fresh cash for the British sports car manufacturer. Bahrain’s sovereign wealth fund Mumtalakat, which took full ownership of McLaren Group (the parent company of the car firm and McLaren Racing) in April, confirmed thatContinue Reading

Recaro Automotive Has Been Saved From Bankruptcy

Recaro Automotive GmbH has been saved from bankruptcy. The Italian company Proma Group has signed an investment agreement with the German-based seat maker, and the pair have already begun the transition period to assume control of the business. Proma said it would retain several original employees to “ensure a moreContinue Reading

CREDICORP/NADDC Kick Off Initial ₦20B Consumer Credit Fund For Purchase Of Locally-Assembled Vehicles

Consumer Credit : CREDICORP/NADDC kick off initial ₦20B Consumer Credit Fund for purchase of locally-assembled vehicles. Initiative will not only enable Nigerians to purchase locally-assembled vehicles but also grow Nigeria’s automotive industry. Innoson, NORD, CIG MOTORS (GAC), PAN, MIKANO, Jets, NEV (electric) and DAG were in attendance at the signingContinue Reading

Press releases Others MarketsandMarkets The Electric Light Commercial Vehicle (eLCV) market is a rapidly evolving segment within the automotive industry, driven by increasing demand for sustainable transport solutions, advancements in battery technology, and stringent emission regulations. Here’s an overview of key trends and factors influencing this market: Key Drivers ofContinue Reading