Category: Automotive Deals

Auto Software Firm LeddarTech Reaches Deal to Go Public Via SPAC

By on June 17, 2023

(Bloomberg) — LeddarTech Inc., an automotive software company, is going public through a merger with a blank-check company led by Qualcomm Inc.’s former president. Most Read from Bloomberg The deal with Prospector Capital Corp. will give LeddarTech a pro forma equity value of $348 million, according to a statement on Tuesday that confirmed a Bloomberg News report. The transaction will provide LeddarTech with $23 million from the blank-checking company, assuming investors don’t redeem their shares, and $43 million from a private investment in public equity, or PIPE. Proceeds from the deal will be used to fund the expansion of the…

Esports Automotive Deals : team vitality 3

By on June 15, 2023

Team Vitality is partnering with automotive brand KIA for a new two-year deal that revolves around content creation. The primary focus of this initiative centers around the immensely popular game League of Legends while also encompassing KIA’s role as the official supplier for Team Vitality’s LFL and LEC rosters. While specific details regarding the content series within the campaign have not been disclosed, it is anticipated that a diverse range of content will be produced to captivate and engage fans. The mutually beneficial partnership aims to cultivate fan interaction through an engaging campaign titled ‘The Lane of Movement.’ “We are…

Stellantis and Vulcan sign a deal for French geothermal projects

By on June 11, 2023

Stellantis has signed a new agreement with Australia-listed lithium supplier Vulcan Energy Resources aiming to help decarbonize its European operations, the two groups said. As global demand for electric-vehicle batteries rises, Stellantis has signed deals with multiple miners to secure key minerals, including with Vulcan, in which the automaker is now the second largest investor. The binding agreement announced on Wednesday is for the first phase of a project to develop new geothermal sources contributing to the energy supply of an industrial site in Mulhouse, eastern France, where Stellantis produces several Peugeot and DS models, including the full-electric Peugeot e…

Most Expensive Toyota Grand Highlander Costs Nearly $60k

By on June 9, 2023

Automakers can’t have one three-row SUV anymore. They need to have multiple options that fill in the tiny gaps within their lineups. For Toyota, there was a substantial hole between the midsize Highlander and the large Sequoia. With the launch of the all-new 2024 Toyota Grand Highlander, Toyota has filled that gap. For consumers who think the Highlander isn’t big enough, but the Sequoia is too big, the Grand Highlander could prove to be the perfect fit and it doesn’t cost much more than the Highlander, either with a starting price tag of $44,405 ( with destination).That figure is…

M&A activity related to electric vehicles will decrease in the automotive industry in 2023

By on June 7, 2023

In value terms, electric vehicles-related deal activity increased by 425% in Q1 2023 compared with the previous quarter’s total of $419.2m and fell by 16% as compared to Q1 2022. Related deal volume decreased by 23% in Q1 2023 versus the previous quarter and was 19% lower than in Q1 2022.The top-ranked financial advisors supporting these M&A deals in Q1 2023 were ACP Capital Markets; Benchmark Investments; Rothschild & Co with 1, 1, 1 deals respectively.The top-ranked legal advisors supporting these M&A deals in Q1 2023 were J Sagar Associates; Jones Day; Norton Rose Fulbright with 1, 1,…

Best New Car Deals for Memorial Day 2023

By on June 5, 2023

The cars listed below—all 2023 models—appear in descending order of the potential savings off the manufacturer’s suggested retail price. To show specific pricing examples, we highlighted specific, popular versions. The potential savings span from 10 percent to 6 percent off the original MSRP—and this often holds true across the model range. There are typically regional deals that highlight these national offerings. They can be found through our Build & Buy Car Buying Service. We also list the average transaction price for each example, reflecting what others have recently paid. Ultimately, that is the number to beat with your negotiation. Securing…

There Are New Car Deals to Be Had This Memorial Day

By on June 3, 2023

For the past few years, new-car prices have obviously been climbing, so it’s nice to learn that there are some traditional Memorial Day deals out there this year. With the pandemic fading away and the related supply-chain problems sorting themselves out, we’re back to perks like low financing offers and factory discounts. The best deals available knock around 10 percent off the price of the car but don’t expect that sort of sale on everything on the lot.For years, Memorial Day has been on the rotation for holidays that often come with deals at local car dealerships. It’s the…

2024 Chevy Colorado Adding ZR2 Bison Off-Road Truck

By on June 1, 2023

For most people, the Chevrolet Colorado ZR2 offers plenty of performance for high-speed desert runs or slow-speed rock crawling. But there are a select few that will require more. For those drivers, the bigger and badder 2024 ZR2 Bison should fit the bill.Just like last year, Chevrolet has partnered with American Expedition Vehicles (AEV) to make the ZR2 even more capable. The amped-up Colorado ZR2 will once again utilize the Bison name and come with a host of upgrades that make it look more menacing and more capable off-road than the regular ZR2. A lot of the large components…