China’s top search engine operator Baidu Inc has joined hands with Zhejiang Geely Holding Group and Japan’s Toyota Motor Corp to cooperate on areas related to artificial intelligence (AI) amid a push for self-driving cars. Under their partnership, Geely and Toyota have joined Apollo, an autonomous driving platform by Baidu. Baidu will provide Apollo Minibus,… Continue reading Chinese tech giant Baidu partners Geely, Toyota in self-driving push
Author: Deal Street Asia Online News
Indonesian trucking startup Ritase raises $8.5m Series A led by Golden Gate
Indonesian trucking services platform Ritase has closed a Series A funding round of $8.5 million led by Golden Gate Ventures to propel its growth and expand into new markets. Other investors that participated in the round are Jafco Asia and ZWC Ventures, as well as existing backers including Insignia Ventures, Beenext and Skystar Capital, Ritase… Continue reading Indonesian trucking startup Ritase raises $8.5m Series A led by Golden Gate
Applied Materials to acquire Japan’s Kokusai Electric for $2.2b in cash deal
Applied Materials Inc, the world’s biggest supplier of chipmaking equipment, said on Monday it would buy Japanese peer Kokusai Electric for $2.2 billion in cash from global investment firm KKR & Co Inc. The move comes amid rising competition for providing cutting-edge semiconductors for use in fifth-generation (5G) telecommunications equipment. The deal would push the U.S. company’s share of the chipmaking… Continue reading Applied Materials to acquire Japan’s Kokusai Electric for $2.2b in cash deal
E-commerce giant Flipkart to replace 40% of its delivery vans with EVs
Walmart Inc’s Indian unit Flipkart said late Thursday it plans to replace nearly 40% of its current fleet of delivery vans with electric vehicles (EVs) by March 2020, as part of its efforts to cut down on its carbon footprint. The Bengaluru-based ecommerce company said it will start with deploying 160 vans by 2019-end. Some of these EVs are already plying in the country’s capital of New Delhi. Flipkart has amped up its focus on… Continue reading E-commerce giant Flipkart to replace 40% of its delivery vans with EVs
Five Japanese automakers to invest 2% each in SoftBank-Toyota self-driving car venture
Five Japanese automakers including Suzuki Motor Corp and Mazda Motor Corp on Friday said they would each invest 2% in the on-demand, self-driving car service venture set up by SoftBank Corp and Toyota Motor Corp. Suzuki, Mazda, Subaru Corp, Isuzu Motors Ltd and Toyota‘s compact car unit Daihatsu will each invest 57.1 million yen ($530,620) in the venture – dubbed Monet – in return for a… Continue reading Five Japanese automakers to invest 2% each in SoftBank-Toyota self-driving car venture
Toyota to invest $2b in developing electric vehicles in Indonesia
Toyota Motor Corp plans to invest $2 billion to develop electric vehicles (EVs) in Indonesia over the next four years, starting with hybrid vehicles, Indonesia’s coordinating ministry for maritime affairs said. “From 2019 to 2023, we will progressively increase our investment to 28.3 trillion rupiah ($2 billion),” Toyota president Akio Toyoda was quoted as saying in a… Continue reading Toyota to invest $2b in developing electric vehicles in Indonesia
China’s Didi Chuxing to expand partnership with automaker GAC Group
Chinese ride-hailing giant Didi Chuxing said on Wednesday it would expand its partnership with Guangzhou Automobile Group Co Ltd (GAC Group) to areas such as ride-hailing operations and autonomous driving. China’s largest ride-hailing firm and Guangzhou-based GAC Group will work on fleet expansion and management, development of new mobility products, and collaboration on smart driving,… Continue reading China’s Didi Chuxing to expand partnership with automaker GAC Group
AP Eagers’ proposed takeover of Automotive Holdings raises regulatory concerns
Australia’s competition regulator expressed concern on Monday over AP Eagers Ltd’s A$836 million ($580 million) proposed takeover of smaller auto retailer Automotive Holdings Group Ltd (AHG). The Australian Competition and Consumer Commission (ACCC) said its preliminary concerns were over competition in new car retailing in the Newcastle and Hunter Valley region of New South Wales… Continue reading AP Eagers’ proposed takeover of Automotive Holdings raises regulatory concerns
India Dealbook: FnO raises $2m; Droom gets $10m from parent
In the latest startup funding, FnO has raised $2 million in an angel funding round while Droom has received $10 million from its Singapore-based holding entity. FnO raises $2 million Fintech startup built for futures trading FnO has raised $2 million in an angel funding round, The Economic Times reported. While the investors were not… Continue reading India Dealbook: FnO raises $2m; Droom gets $10m from parent
Indian two-wheeler rental startup Vogo in talks to raise up to $50m
Vogo Automotive Pvt. Ltd, which offers bikes on rent, is in talks to raise $40-50 million as equity to fuel its growth plans, said two people familiar with the matter, requesting anonymity. The Bengaluru-based startup, which operates under the brand Vogo, has mandated Mumbai-based investment bank Avendus Capital for the latest fundraise, said the first… Continue reading Indian two-wheeler rental startup Vogo in talks to raise up to $50m