Ireland-headquartered intelligent power management company Eaton has entered into a definitive agreement to separate its Mobility Group business and combine it with Dana Incorporated in a Reverse Morris Trust transaction.

The deal values the combined company at over USD 10 billion in enterprise value and values Eaton’s Mobility Group at approximately USD 5.1 billion. The transaction is scheduled to close in Q1 of CY2027, subject to approval by Dana shareholders and regulatory clearances.

Under the terms of the agreement, Eaton will receive a tax-free cash distribution of approximately USD 1.1 billion, which will be funded by newly issued debt from the mobility entity. Eaton shareholders will receive shares in the combined business, resulting in a post-transaction ownership structure where Eaton shareholders hold at least 50.1 percent of the outstanding shares and Dana shareholders own approximately 49.9 percent.

The transaction allows Eaton to alter its corporate focus toward its electrical and aerospace divisions, which align with market trends in electrification, data centres, infrastructure modernisation and aerospace defence.

The combined entity will merge Dana’s portfolio of axles, driveshafts, thermal management and sealing products with Eaton’s commercial vehicle transmissions, clutches and engine emissions technologies. The merged entity will target internal combustion, hybrid and electric vehicle platforms across commercial and light vehicle manufacturing sectors.

The combined entity will retain the name Dana Incorporated and continue its public listing on the New York Stock Exchange under the ticker symbol DAN. The business is projected to generate approximately USD 11 billion in pro forma revenue and USD 1.7 billion in pro forma estimated 2026 adjusted EBITDA. The integration plan targets USD 250 million in annual run-rate cost synergies to be fully achieved within 24 months of closing.

Furthermore, Byron Foster will become the Chief Executive Officer of the combined company and Timothy Kraus will assume the role of Chief Financial Officer. R. Bruce McDonald will serve as Executive Chairman, while Erin Rowse is named as the incoming Chief Human Resources Officer. Dana’s board of directors will expand from eight members to include three additional directors appointed by Eaton.

Paulo Ruiz, Chief Executive Officer, Eaton, said, "We are pleased to have reached this agreement, which delivers significant value to Eaton and its shareholders and represents a major milestone in Eaton’s 2030 growth strategy to lead, invest and execute for growth. Eaton shareholders will benefit from the meaningful upside created by the combined company, and the transaction will provide substantial cash value for Eaton to deploy to our highest-growth and highest-margin opportunities. Looking ahead, our portfolio will be closely aligned with the powerful megatrends driving generational growth in our Electrical and Aerospace businesses, and we look forward to continuing our momentum to drive meaningful value for our customers and shareholders."

R. Bruce McDonald, Dana Chairman and Chief Executive Officer, said, "We are excited to bring together Eaton’s Mobility Group with Dana. The addition of Mobility Group’s leading positions in commercial vehicle transmissions, clutches and power management technologies, combined with Dana’s strengths in axles, driveshafts, electrification, thermal management and sealing products, will create a truly differentiated global platform. Together, we will be better positioned to serve our customers, invest in innovation and drive long-term value creation for shareholders of the combined company.”

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Hero Motors has fixed the price band for its initial public offering at INR 79 to INR 84 per equity share of face value INR 10 each. The offer will open for subscription on Wednesday, 16 September 2026, and close on Friday, 18 September 2026. Bidders can apply for a minimum lot of 178 equity shares and in multiples of 178 equity shares thereafter.

The company’s INR 10 billion public issue comprises a fresh issue of equity shares raising up to INR 6 billion alongside an offer-for-sale of up to INR 4 billion by promoters O P Munjal Holdings and Hero Cycles. Out of the fresh issue proceeds, the company will allocate INR 1.9 billion toward the repayment or prepayment of outstanding borrowings and INR 2 billion for capital expenditure to purchase equipment for capacity expansion at its Gautam Buddha Nagar facility in Uttar Pradesh. The remaining capital will fund inorganic growth acquisitions, strategic initiatives, and general corporate activities.

Hero Motors operates as an automotive technology company designing, developing, and manufacturing powertrain solutions for original equipment manufacturers across the United States, Europe, India and the ASEAN region. The company provides integrated system-level and component-level powertrain products, electric motors, integrated drive units, gear sets and continuously variable transmissions for electric and non-electric applications. Its client portfolio includes two-wheelers, performance cars, e-bikes, off-road vehicles, electric and hybrid automobiles, heavy-duty commercial transport, and electric vertical take-off and landing aircraft.

The company supplies global original equipment manufacturers and component firms including BMW AG, Ducati Motor Holding, Enviolo International, Formula Motorsport, Hummingbird EV and HWA AG.

The IPO is structured through the book-building process, allocating up to 50 percent of the net offer to qualified institutional buyers, a minimum of 15 percent to non-institutional bidders and a minimum of 35 percent to retail individual bidders.

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Zuno General Insurance has launched Fuel Guard, an industry-first car insurance add-on. As per the new-age digital insurer, the product offers extra protection amid India’s growing adoption of approved blended fuels.

Fuel Guard covers specified engine and fuel-system components against accidental and unforeseen damage caused directly by manufacturer-approved blended fuel. It is available for private cars registered on or after 1 April 2023, provided the manufacturer has approved the fuel used.

Vehicles must follow the prescribed maintenance schedule and have no unauthorised engine or fuel-system modifications. The cover can be added to applicable private car package, standalone own damage and bundled policies, including three-year long-term policies. Zuno said the launch reinforces its customer-focused motor protection strategy, following offerings such as Zuno SmartDrive.

Shanai Ghosh, MD & CEO, Zuno General Insurance, said, "At its core, Fuel Guard is built around a simple idea: as the mobility ecosystem evolves, insurance protection needs to evolve with it. At Zuno, we continuously look at how changes in mobility are shaping customer expectations and ownership experiences. Fuel Guard reflects our effort to translate those insights into simple, practical solutions that make protection more relevant in everyday life."

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Chennai-headquartered electric vehicle company Raptee.HV has opened an electric mobility Centre of Excellence at Rajalakshmi Engineering College, establishing an industry-academia partnership focused on electric vehicle technology.

The new facility, inaugurated on World EV Day, is spread across 3,000 square feet and will operate under the Raptee.HV Academy initiative will introduce industrial exposure and prototyping tools to academic institutions.

The project represents an INR 5 million investment and accompanies a Memorandum of Understanding signed between Raptee.HV and Rajalakshmi Engineering College. The agreement covers industrial training, site visits, guest lectures, internships, academic courses and research projects.

It is designed for students across electrical, electronics and automotive engineering; the laboratory contains a Raptee.HV T30 motorcycle, core electric vehicle components, a stripped motorcycle fitted with digital twin technology and equipment for testing battery packs, electric motors, power electronics, charging systems, vehicle communications and diagnostics.

Dinesh Arjun, Co-Founder and CEO, Raptee.HV, said, "The next generation of mobility will be built by engineers who understand the machine from the cell to the software. But you cannot build that understanding from a classroom alone. You have to get your hands dirty, take systems apart, question how they work, experiment and build again. The HV Lab is our attempt to bring that experience into engineering education. If even a few students walk out of this lab wanting to build the next great EV technology, we have done our job."

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Zuno General Insurance has launched Fuel Guard, a car insurance add-on offering financial protection against component damage caused by manufacturer-approved blended fuels.

The policy addition targets private motor vehicles in India as alternative and blended fuel adoption expands across the country. The coverage applies to specified engine and fuel-system parts in cases of accidental or unforeseen damage arising directly from approved blended fuel use.

At present, the insurance cover eligibility is restricted to private cars registered on or after 1 April 2023, provided the vehicle manufacturer has endorsed the specific fuel blend used. Vehicle owners must adhere to the manufacturer's prescribed maintenance schedule without making unauthorised modifications to the engine or fuel system. Fuel Guard can be added to private car package policies, standalone own-damage coverage, bundled options and three-year long-term policies.

Shanai Ghosh, Managing Director and CEO, Zuno General Insurance, said, "At its core, Fuel Guard is built around a simple idea: as the mobility ecosystem evolves, insurance protection needs to evolve with it. At Zuno, we continuously look at how changes in mobility are shaping customer expectations and ownership experiences. Fuel Guard reflects our effort to translate those insights into simple, practical solutions that make protection more relevant in everyday life."

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