New Delhi: The calendar year 2021 began with the official announcement of the long-awaited merger of the auto giants FCA and PSA to create the world’s fourth largest auto group Stellantis. The trend continued throughout the year with M&A deals happening every month. They culminated in December with the partnerships of Reliance BP Mobility and Mahindra Group, ZF and Rane Group, and TVS Motor Company and BMW Mottorad.
Despite the disruptions and challenges from the COVID-19 pandemic, the Indian automobile industry finalised key partnerships with electric vehicles and auto components as the pivotal themes in 2021. Industry watchers say that companies go for acquisitions not only to grow but also to transform their businesses. Most deals are to acquire technologies of the new age companies which the incumbents do not have.
Ashim Sharma, partner and group head – business…
