Japanese middle-market private equity firm Nippon Sangyo Suishin Kiko (NSSK) has agreed to acquire Tokyo-headquartered Fujikura’s power transmission component business. The investment is being made through NSSK’s second fund. The financial terms of the deal remain undisclosed. The transaction is slated for completion on October 1, 2021, NSSK said in a statement. The target unit… Continue reading Japanese PE firm NSSK to buy Fujikura’s power transmission component unit …
Author: Deal Street Asia Online News
Indonesia’s Gojek and Tokopedia announce merger to form GoTo
Gojek and Tokopedia, Indonesia’s two most valuable tech companies, on Monday announced they are merging their businesses in what is the country’s largest-ever business deal. GoTo Group, the combined entity, will offer everything from e-commerce to on-demand services, such as ride-hailing and food delivery, and financial services. The transaction, which follows months of negotiations and… Continue reading Indonesia’s Gojek and Tokopedia announce merger to form GoTo
Autonomous startup WeRide raises new funds, at $3.3b valuation …
WeRide, an autonomous driving startup backed by Nissan, Renault and Mitsubishi, said on Thursday that it has raised hundreds of millions of dollars valuing the company at $3.3 billion. WeRide, which is testing vehicles in California, China’s southern city of Guangzhou and central city of Zhengzhou, did not disclose details on the size of the… Continue reading Autonomous startup WeRide raises new funds, at $3.3b valuation …
Vietnam’s Vinfast bets on global EV boom, battery leasing model as it weighs IPO …
Premium After two successful domestic listings of its subsidiaries, Vietnamese conglomerate Vingroup is possibly looking to score a hat-trick with the proposed public outing of its automobile unit, Vinfast, as one of several fundraising options at reportedly lofty valuations, riding on the enormous appetite for electric vehicle stocks in the global markets. Go to Source
Tencent-backed Chinese EV maker Nio launches first overseas store in Norway …
Chinese electric vehicle (EV) maker Nio Inc said on Thursday that it had launched its first overseas store in Norway and plans to start selling cars in the country as it pushes to expand globally. Nio, which makes electric sport-utility vehicles in China’s eastern city of Hefei, is employing more than 9,000 staff globally, said chief executive… Continue reading Tencent-backed Chinese EV maker Nio launches first overseas store in Norway …
India: Ola Electric ropes in Wayne Burgess as head of vehicle design
The announcement comes just days after the company revealed plans to take its electric scooter to international markets, including countries such as France, Italy and Germany, during the current financial year. With experience in vehicle design spanning across three decades, Burgess has worked with premium car manufacturers, including Rolls Royce, and Bentley in his early… Continue reading India: Ola Electric ropes in Wayne Burgess as head of vehicle design
Indian auto classifieds firm CarTrade to soon file for $266m IPO
“They are ready to file DRHP. Final touches are being put on the document. It should happen in the next 10-15 days. This will be the first online auto classifieds company to go public in India,” the first person cited above said, requesting anonymity as he is not authorized to speak with the media. CarTrade… Continue reading Indian auto classifieds firm CarTrade to soon file for $266m IPO
Vietnam’s B2B trucking startups reset business focus to offset pandemic slowdown
Premium Vietnam’s ‘Uber-for-truck’ startups operating in the B2B space are prioritising profitability and sustainability and chasing new business avenues as they weather the adverse impact of the global pandemic-induced supply chain disruptions. Go to Source
Indonesian ride-hailing giant Gojek to completely switch to electric vehicles by 2030 …
Indonesian ride-hailing startup Gojek plans to make every car and motorcycle on its platform an electric vehicle (EV) by 2030 through partnerships with manufacturers and favourable leasing arrangements, co-Chief Executive Kevin Aluwi told Reuters. Gojek announced the plan on Friday under a zero-emission pledge laid out in its first annual sustainability report, which analysts widely… Continue reading Indonesian ride-hailing giant Gojek to completely switch to electric vehicles by 2030 …
SIG leads $70m Series C round for Chinese auto marketplace YIAUTO …
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading SIG leads $70m Series C round for Chinese auto marketplace YIAUTO …