By Aditi Shah and Neha Arora NEW DELHI (Reuters) -China’s SAIC Motor will slash its 49% stake in its Indian joint venture and halt further investment, five people said, the latest sign of how political tension between the Asian neighbours is spilling over into business. SAIC’s decision comes after India introduced limits on investment from…
By David Shepardson WASHINGTON (Reuters) – The Trump administration said late on Monday it was ordering Delta Air Lines and Aeromexico to unwind a joint venture by January 1 that let the carriers coordinate scheduling, pricing and capacity decisions for U.S.–Mexico flights. The U.S. Transportation Department in July had proposed ending the nearly nine-year-old joint…
Sona Comstar forms a JV with Jinnaite Machinery to enter the Chinese electric vehicle market with a USD 12 million investment. The JV will manufacture driveline systems and components. New Delhi, Jul 20 (PTI) Auto components Sona BLW Precision Forgings Ltd (Sona Comstar) on Sunday said it has formed a joint venture with Jinnaite Machinery…
Auto parts maker Sona BLW Precision Forgings Ltd (Sona Comstar) has entered into a joint venture with China-based Jinnaite Machinery Co Ltd (JNT) to make a strategic foray into the Chinese electric vehicle (EV) market. As per news agency PTI, the combined investment in the joint venture is pegged at $20 million (around Rs 167…
Sona Comstar has entered China’s electric vehicle market through a joint venture with Jinnaite Machinery Co. at a time when its US business is facing headwinds due to Trump’s tariffs and India unit is suffering because of Chinese rare earth restrictions. The Gurugram-based firm will invest $12 million in the joint venture and hold a…