In March, Ola sold about 21,400 electric scooters. Go to Source
Author: Tech In Asia Online News
In 50 Words: Volkswagen to invest $700m in Xpeng for EV development
Volkswagen plans to launch two new battery-powered models with Xpeng in China by 2026. Go to Source
In 50 Words: Together Fund announces $150m vehicle for AI, SaaS investments
The India-based investor aims to pour US$1 million to US$5 million in seed and series A rounds. Go to Source
Does combining Grab with asset-heavy Trans-cab make sense?
The move comes as archrival Gojek partners with the largest taxi company in Singapore. Go to Source
Grab to acquire SG taxi operator Trans-Cab for $100m: report
The acquisition will give Grab control of over 2,200 taxis and more than 300 private-hire vehicles, the Straits Times reported. Go to Source
Vietnam-based Earth VC backs US battery firm
Group14’s main product is SCC55, a material that can be used for lithium-silicon batteries that it says can store 5x more energy than graphite. Go to Source
Grab deposits $101m in capital to GXS Bank
As of May, GXS Bank is nearing the S$50 million limit in deposits that Singapore has set for the initial operations of digital banks. Go to Source
Carousell, Carzuno to offer car subscription service in Singapore
Carro also has a subscription-based car service in the city-state that it’s been offering since 2019. Go to Source
In 50 Words: Ola Electric may go public early on rapid growth, CEO reveals
The company, leading India’s electric scooter market with a 38% share, has sold over 239,000 units since December 2021. Go to Source
In 50 Words: BYD pairs with Indian firm for $1b electric car production bid
The project, if approved, would give China’s BYD a presence in all major vehicle markets except the US. Go to Source