China Evergrande New Energy Vehicle Group Ltd said on Tuesday investors including Tencent Holdings Ltd and Sequoia Capital will buy HK$4 billion ($516.12 million) worth of company shares in a share sale. The electric vehicle unit of property developer China Evergrande said its controlling shareholder plans to sell 176.58 million existing shares, or about 2%… Continue reading China Evergrande New Energy Vehicle to raise $516m from Tencent, Sequoia, others
Author: Deal Street Asia Online News
Malaysia’s iCar Asia said to be in the market seeking buyers
Login We will never share your information with third parties. If you don’t already have an account click the button below to create your account. Sign up here OR Sign in with Facebook Sign in with Twitter Sign in with Google Sign in with LinkedIn Go to Source
Tata Motors looks to sell stakes in two units as part of plan to turn debt-free
The divestment plans are critical for the parent of Jaguar Land Rover (JLR) Automotive Plc, which saw its net consolidated debt soar to ₹68,000 crore as of 31 July from ₹48,000 crore as of 31 March following extensive cash burn due to disruptions from the coronavirus outbreak. “Tata Motors has resumed talks with multiple stakeholders for potential equity stake… Continue reading Tata Motors looks to sell stakes in two units as part of plan to turn debt-free
China Deal Monitor: SpeedBot nabs nearly $14m and more updates
ResearchPremium Changsha-headquartered industrial robot developer SpeedBot Robotics Ltd., has raised about 100 million yuan ($14 million) in its Series A funding round led by MSA Capital, a Tianjin-based investment firm that manages over $1.5 billion in assets. Go to Source
India’s Ola Electric speeds up two-wheeler EV launch
Etergo, which was acquired by Ola Electric in May, will launch the App Scooter in the European market this year and in Asia next year, with India being first on the list, said one of the persons mentioned above on the condition of anonymity. The Bhavish Aggarwal-led Ola Electric is expected to locally source and manufacture… Continue reading India’s Ola Electric speeds up two-wheeler EV launch
India: BluSmart Mobility raises $7m from Inflection Point Ventures, others
Delhi NCR-based all-electric ride hailing platform BluSmart Mobility Pvt Ltd has raised $7 million or ₹51 crore in pre-series A funding from multiple investors including Inflection Point Ventures, Venture Catalysts, Survam Partners, Mumbai Angels, Chhatisgarh Investments Ltd., JITO Angels, Lets Venture Fund and Kaplavriksh Fund, the company said on Monday. The company, which is also… Continue reading India: BluSmart Mobility raises $7m from Inflection Point Ventures, others
Japanese flying car developer SkyDrive raises $37m in Series B
Japan’s flying car developer SkyDrive has raised 3.9 billion yen (approximately $37 million) in its Series B funding round from a group of investors including Development Bank of Japan and Itochu Corporation, according to an announcement. STRIVE, formerly known as Gree Ventures, also participated in this round along with Obayashi Corporation, NEC Corporation, Eneos Innovation… Continue reading Japanese flying car developer SkyDrive raises $37m in Series B
Vietnam motorbike marketplace OKXE raises $5.5m in Series A funding
Vietnam-based OKXE.vn, an online marketplace for motorcycles, has raised $5.5 million in a Series A funding round led by South Korean venture capital firm Partners Investment. The round was backed by South Korean investors including IMM Investment Corp, KB Investment, Korea Omega Investment Corp, HB Investment, and SB Partners, OKXE founder and CEO Wooseok Kim… Continue reading Vietnam motorbike marketplace OKXE raises $5.5m in Series A funding
India: CarDekho plans to invest $20m in used car business in FY21
The Girnar Software Pvt Ltd-owned venture, also a leading vehicle search platform, plans to open 250 franchise stores this year and ramp up this network to over 1,000 retail locations by 2022. The franchise outlets would be branded CarDekho Trustmark stores. Used cars are seeing a surge in demand as buyers are increasingly opting for… Continue reading India: CarDekho plans to invest $20m in used car business in FY21
Evergrande sells $3b property management unit stake ahead of possible IPO
The property developer said last month it was considering a spin-off and separate listing for the unit, which is called Mangrove 3 Ltd. The introduction of strategic investors will enhance the corporate profile of the business and support its growth, it said in a filing late on Thursday. Fourteen investors bought into the deal, including… Continue reading Evergrande sells $3b property management unit stake ahead of possible IPO