Globus Events forms joint venture with Hannover Milan Fair (Shanghai) Co., Ltd.
Globus Events and Hannover Messe Milano (Shanghai) Co., Ltd., a joint venture between Deutsche Messe and Fiera Milano in China, announce the establishment of DACF Exhibitions Shanghai Ltd. The new company, owned by both parties, will continue to organize DOMOTEX asia/ChinaFLOOR, the largest flooring exhibition in the Asia-Pacific region. The agreement was signed on January 8 during the 20th China Exhibition and Convention International Cooperation Forum (CEFCO), which will be held in Tianjin from January 8 to 10, 2025.Tang Zhaoqun, secretary-general of the China Forestry Products Industry Association, and Zhang Shujing, director of the Convention and Exhibition Management Department of the China Council for the Promotion of International Trade, attended the signing ceremony.Part of the DOMOTEX product portfolio – Deutsche Messe Hannover’s world-renowned exhibition brand for the carpet and floor covering industry – DOMOTEX asia/ChinaFLOOR was launched in Shanghai 26 years ago and has jointly held an event every year since then. Starting from 2025, it will become the asset…
Stellantis Battery joint venture to receive $7.6 billion in federal investment
The factories can produce enough batteries to power 670,000 electric vehicles annually The U.S. Department of Energy has given preliminary approval for a $7.54 billion loan to a battery joint venture between FCA US and Samsung SDI. The funds will be used to build two factories in Kokomo, Indiana, to produce enough batteries to power 670,000 vehicles annually. The factories are expected to create thousands of jobs, but it remains to be seen whether the loans will materialize. A few days ago, the US Department of Energy's Office of Loan Programs once again provided Rivian with a conditional loan of up to $6.57 (£5.24/€6.27) for a new factory in Georgia. This time they announced a conditional commitment of up to $7.54 billion to StarPlus Energy. While the name may not be obvious, StarPlus Energy is a joint venture between FCA US and Samsung SDI. If the loan is finalized, the funds will be used to build two lithium-ion battery and…
What’s holding the Mahindra-Skoda joint venture back?
Talks for a mega joint venture between Mahindra & Mahindra (M&M) and Skoda Auto Volkswagen India have hit a snag. Both companies signed non-binding agreements (basically a "let's see how it goes" deal), but they're now stuck on some major terms. Disagreement, particularly over development costs and procurement, has slowed progress.Mahindra, one of the strongest players in the Indian car market, is not prepared to make many concessions. The deal was supposed to close this month, but things aren't looking good. Sources even suggested that this might not happen anytime soon as the issues have yet to be resolved.Of course, they agree on many issues, but thorny, critical issues remain unresolved. Without sorting these, it's like trying to build a car without wheels - it won't move forward.For Volkswagen, the joint venture is about sharing costs and risks in India, which is still trying to catch up with brands like Maruti, Hyundai and Tata. The tie-up with Mahindra could help…
Mahindra and Skoda Volkswagen India to form 50:50 joint venture
Mahindra and SAVWIPL will officially announce theMahindra and Skoda Volkswagen India are reportedly in the final stages of establishing a 50:50 joint venture. The partnership aims to share costs, technology and vehicle platforms for future product development, with a focus on battery-powered SUVs. The move is seen as a major step forward in the fast-growing electric vehicle market in India and beyond.Electric SUV Strategic FocusThe proposed joint venture will primarily focus on the development of electric SUVs, targeting both Indian and international markets. However, the scope of the collaboration will also include fossil fuel-based models. Multiple sources close to the negotiations said an official announcement could come before the end of this year. While Mahindra has not yet commented on the matter, a SAVWIPL spokesperson said: "We do not comment on speculation."The collaboration will utilize the production facility at Chakan, Pune, which is currently jointly operated by SAVWIPL and Mahindra. This strategic location is expected to play a key role…
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