Page 2 - Car Industry

Zoomcar inks merger pact with Innovative International Acquisition Corp

Car sharing platform Zoomcar on Friday said it has inked a merger agreement with Innovative International Acquisition Corp and subsequently become a publicly listed entity on Nasdaq. The transaction values the combined company at around USD 456 million. Upon closing of the transaction, the combined entity will be renamed Zoomcar Holdings, Inc and expects to list its common stock on Nasdaq. Founded in 2013, Zoomcar currently operates across more than 50 cities globally. It has over 3 million active users and over 25,000 vehicles registered for use on its global car-sharing marketplace. "Zoomcar's car-sharing marketplace is positioned to cut across emerging markets, and we expect to target future expansion opportunities in markets, which include SE Asia, Latin America, MENA, and Sub-Saharan Africa," Zoomcar Co-Founder and CEO Greg Moran said in a statement. The entity sees a vast addressable market, totalling around USD 90 billion annually by 2025, he added. Innovative Internation

Do you know your customer's decision journey?

Often, just a few key activities are all that you need to ensure that your brand does not become a leaky bucket that keeps losing customers at the last stage

Young buyers leading charge in buying pre-used cars sales: Report

The study highlights the most-compelling consumer trends and statistics with respect to the Indian used car industry

Pre-owned car industry needs regulation to protect consumer interest: study

At present, there are no regulatory provisions for intermediaries though they trade the pre-owned car multiple times before it is eventually registered in the ultimate owner's name

Car makers drive in top-of-the-line models in defiance of slowdown

Buyers have been lapping up new model launches, show booking and sales trends

German industrial hiring falls first time in 9 years, car sector worst hit

Meanwhile a forecast for the number of cars set to roll off German production lines this year showed the figure at a 22-year low of 4.67 million.

The car industry is actually reinventing the wheel to keep up with robocars

Yet it's more than just tires that are being changed. Auto firms are putting semiconductors and sensors inside headlights, glass and seats to make them as intelligent as the cars driving themselves

World has moved, but India continues to use corrosion-prone steel for cars

The automobile industry globally has moved to galvanised steel, but India and China continue to use steel that is prone to corrosion for cars meant for local market

Big boys of car industry get bigger

Maruti, Hyundai & Mahindra together had 72.5% market share in year's first half; others slip, some more than earlier