France’s Renault SA said on Monday that it is looking to revive business in China by forming a hybrid vehicle joint venture with Geely Holding Group, a year after it ended its previous operation in the world’s largest car market. The two companies have signed a framework agreement to set up the joint venture, which would make… Continue reading France’s Renault, China’s Geely look to set up JV to manufacture hybrid vehicles
Author: Deal Street Asia Online News
Ride-hailing service Didi mulls giving up data control to appease China
Chinese ride-hailing firm Didi Global Inc is in talks with state-owned information security firm Westone to handle its data management and monitoring activities, sources said, as part of its efforts to placate domestic regulators. The largest Chinese ride-hailing group became the target of an investigation by regulators in the country just days after it raised… Continue reading Ride-hailing service Didi mulls giving up data control to appease China
CX Automation platform Yellow.ai raises $78m Series C from WestBridge Capital, others …
One dollar bill. Photo: Neon Brand/Unsplash Bengaluru- and San Francisco-based Yellow.ai has raised $78.15 million as part of its Series C round led by WestBridge Capital, Sapphire Ventures, and Salesforce Ventures, it said on Wednesday. Existing investor Lightspeed Venture Partners also participated in the round. So far, the startup has secured $102.15 million in external… Continue reading CX Automation platform Yellow.ai raises $78m Series C from WestBridge Capital, others …
China’s autonomous truck startup Inceptio raises $270m in Series B …
Premium China’s Inceptio Technology, a startup that develops autonomous trucks, announced on Tuesday that it has closed $270 million in a Series B round of financing jointly led by JD Logistics, Chinese food delivery Meituan, and private equity (PE) firm PAG. Go to Source
China’s indebted Evergrande to sell stakes in internet unit …
China’s most indebted property developer Evergrande Group has agreed to sell stakes in its internet unit HengTen Networks Group Ltd worth a total of HK$3.25 million ($418.2 million), an exchange filing showed on Sunday. Worries over the developer’s debt and the potential for systemic financial risk have intensified after Evergrande said in June its project… Continue reading China’s indebted Evergrande to sell stakes in internet unit …
Chinese EV battery-maker SVOLT closes $1.6b Series B round led by BOCGI …
Chinese EV battery maker and storage solutions provider SVOLT Energy Technology has raked in 10.28 billion yuan ($1.6 billion) in a Series B round just five months after the completion of its big-ticket Series A round. The new round was led by Bank of China Group Investment (BOCGI), a Hong Kong-incorporated direct investment arm of… Continue reading Chinese EV battery-maker SVOLT closes $1.6b Series B round led by BOCGI …
Ride-hailing firm Didi Global considers going private to calm China
China‘s Didi Global is considering going private to placate Chinese authorities and compensate investor losses since the ride-hailing firm listed in the United States, the Wall Street Journal reported on Thursday. The company has been mulling delisting plans as crackdown in China widens and it has received support from cybersecurity regulators, according to the report, which cited people familiar with the matter. The… Continue reading Ride-hailing firm Didi Global considers going private to calm China
AI robotics startup Augmentus secures seed funding and other SE Asia deals
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Chinese self-driving solutions provider CalmCar closes $150m Series C round …
CalmCar has secured about $150 million in a Series C round of financing as the Chinese startup, which provides autonomous driving vehicles with AI-based solutions and data services, is looking at an initial public offering (IPO) within 2022. In a statement on Thursday, CalmCar said that the Series C round was led by German auto… Continue reading Chinese self-driving solutions provider CalmCar closes $150m Series C round …
Eyeing IPO, Volvo Cars to take full control of its Chinese business
Volvo Cars has struck a deal to buy out parent company Zhejiang Geely Holding from their joint ventures in China, in a move that could make a potential initial public offering (IPO) for the Swedish automaker more attractive to investors. Hangzhou-based Geely, which also owns a 9.7% stake in Daimler, said earlier this year it was… Continue reading Eyeing IPO, Volvo Cars to take full control of its Chinese business