Tanfield Group said that it has received a non-binding, conditional offer from Smith Electric Vehicles US (SEVUS) to acquire the assets of Smith Electric Vehicle division based in the UK, for GBP37m in cash. The board of Tanfield has granted Smith US a four month period of exclusivity.
Navistar has unveiled International TerraStar Class 4/5 commercial truck, which the company says will come with a range of commercial duty features from its commercial-duty MaxxForce 7 V-8 diesel engine to the roomiest cab available.
GMC has unveiled new 2011 Sierra Denali HD, which leads the redesigned lineup of 2011 Sierra 2500HD and 3500HD trucks that are expected to go on sale in early summer.
Infiniti has unveiled four new Infiniti G anniversary editions G37 Sedan, G37 Sedan AWD, G37 Coupe, and G37 Convertible, which are expected to go on sale at retailers nationwide in mid-April, in limited numbers with 350 G Sedans and 200 each of G Coupe and G Convertible.
Navistar International has launched a new e-commerce website to sell heavy duty truck and bus parts online to customers.
GE, Navistar International, a manufacturer of trucks, buses and diesel engines, and Navistar Financial Corp (NFC), a wholly owned subsidiary of Navistar, have jointly expanded financing relationship, under which GE Capital will become Navistar's preferred provider of retail financing solutions to support sales of Navistar trucks and school buses in the US.
Honda Motorcycle & Scooter India (HMSI) plans to build a second motorcycle production plant to meet increasing demand in the motorcycle market in India.
Daimler has sold all of its 5.34% of the ordinary shares of Indian automotive company Tata Motors to various groups of investors through capital market. It will receive a cash inflow of approximately EUR300m from the sale.
Oshkosh Defense, a division of Oshkosh, has received three awards valued at around $35m from the US army TACOM life cycle management command (LCMC) for MRAP all-terrain vehicle (M-ATV) upgrades and in-theater support.
General Dynamics Land Systems-Canada has bagged a $41.5m delivery order modification for spare parts in support of RG-31 Mk5E vehicles under the Mine Resistant Ambush Protected (MRAP) vehicle program from US Marine Corps Systems Command (MCSC).
NC2 Global, a joint venture between Caterpillar and Navistar International, plans to launch Australian operations, with truck sales to begin mid-year.
