GLP has signed an agreement with Contemporary Amperex Technology Ltd (CATL), a Chinese battery provider which supplies firms like Tesla, to create a joint venture (JV) that will deploy new energy to advance sustainability in logistics and transportation, said the companies in a statement on Thursday. The JV will explore a range of opportunities including… Continue reading China’s CATL, GLP create joint venture to apply new energy in logistics
Author: Deal Street Asia Online News
Uber unit Careem sees speedier-than-expected recovery
Uber Technologies Inc-owned Middle East business Careem is seeing its ride service recover more quickly than expected from the coronavirus crisis, while its delivery business is larger than before the pandemic. Careem, which mainly operates in the Middle East, had originally forecast that its ride service would recover at the end of 2021, but now expects it to rebound earlier in the year with some… Continue reading Uber unit Careem sees speedier-than-expected recovery
Chinese EV charging operator Star Charge nabs $125m co-led by Schneider, CICC
Star Charge, an integrated solution provider for electric vehicle (EV) charging, has raised 855 million yuan ($125 million) in its Series A round jointly led by French global energy and automation digital solution developer Schneider Electric and Chinese CICC Capital’s sub-fund. The round also saw the participation of China Construction Bank’s Hong Kong-based investment arm… Continue reading Chinese EV charging operator Star Charge nabs $125m co-led by Schneider, CICC
India’s Ola Electric looks to locally assemble its upcoming electric two-wheelers
Ola Electric is expected to launch its electric two-wheelers in the European market, with production already live in the Netherlands. SoftBank-backed Ola Electric is currently in the process of finalising the structure of manufacturing units in India, and it is looking to reduce dependence on the global supply chain by setting up a fully indigenous… Continue reading India’s Ola Electric looks to locally assemble its upcoming electric two-wheelers
India: Vehicle rental platform Drivezy in talks to raise up to $35m
The new round will, however, see Drivezy’s post-money valuation drop by nearly a quarter to $100 million, from the $135-million valuation it was seeking in its earlier funding talks in March, said one of the two people mentioned above, who did not wish to be named. “Drivezy is also evaluating shifting its headquarters to UAE… Continue reading India: Vehicle rental platform Drivezy in talks to raise up to $35m
Chinese smart petrol service platform Nucarf bags nearly $100m
Nucarf Group, an intelligent petrol solution platform for the logistics industry, has garnered approximately $100 million in its Series A and A+ rounds of funding, the company announced on WeChat on Tuesday. The Series A round of financing was led by returning investor Eastern Bell Capital and joined by Xiamen C&D Corporation Limited’s subsidiary C&D… Continue reading Chinese smart petrol service platform Nucarf bags nearly $100m
India: US firm HAAH Automotive reaches out to M&M to invest in SsangYong
US-based automobile distributor HAAH Automotive Holdings has reached out to India’s Mahindra & Mahindra Ltd (M&M) with an offer to invest USD 258 million in the latter’s Korean subsidiary SsangYong Motor Company, according to a report by the news agency Korean Investors. The report said that Indian automobile manufacturer, which owns 75% stake in SsangYong Motor,… Continue reading India: US firm HAAH Automotive reaches out to M&M to invest in SsangYong
China’s Didi, BYD to launch co-designed ride-hailing EV this year
China’s ride-hailing giant Didi Chuxing and electric vehicle maker BYD plan to launch this year a test batch of a vehicle they have designed for ride-hailing services, people familiar with the matter said. BYD received approval from China’s Ministry of Industry and Information Technology to sell an electric sedan model called D1 last month, according to government… Continue reading China’s Didi, BYD to launch co-designed ride-hailing EV this year
Indonesian ride-hailing giant Gojek kickstarts Thai operation after brand unification
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 Indonesian ride-hailing giant Gojek kickstarts Thai operation after brand unification
Uber plans to sell part of stake in China’s Didi Chuxing
Uber Technologies Inc is planning to sell part of its $6.3 billion stake in Chinese ride-hailing firm Didi Chuxing to raise cash, Bloomberg News reported https://bloom.bg/2RAViKg on Thursday, citing people familiar with the matter. CEO Dara Khosrowshahi is in talks about the sale with Didi and SoftBank Group Corp, with a possible scenario of the Japanese conglomerate teaming up with other investors to acquire Uber‘s 15% stake in Didi, according to… Continue reading Uber plans to sell part of stake in China’s Didi Chuxing