China’s Zhejiang Geely Holding Group, which owns Volvo Cars and holds 9.7% of Daimler, said on Tuesday it has signed an agreement with Tencent Holdings Ltd to develop smart vehicle cockpit and autonomous driving. In the latest such partnership in the fast-evolving sector, the companies will jointly develop smart car cockpits to have more mobile and mobility service applications, and explore testing of autonomous driving, Geely said in… Continue reading China’s Geely ties up with Tencent on smart car tech
Author: Deal Street Asia Online News
France’s Total to acquire 20% stake in India’s Adani Green Energy
The Adani Group said on Monday that France-based Total will acquire 20% minority interest in Adani Green Energy Ltd (AGEL). The investment in AGEL is another step in the strategic alliance between Adani Group and Total across various businesses and companies of the Adani Group, covering investments in liquefied natural gas (LNG) terminals, gas utility… Continue reading France’s Total to acquire 20% stake in India’s Adani Green Energy
China Digest: Cobots developer JAKA gets $46m; AI startup WAYZ bags $40m
Chinese collaborative robots developer JAKA Robotics has raised over 300 million yuan ($46.4 million) in a Series C round of financing while AI startup WAYZ has completed a Series A+ round at $40 million. Chinese cobots developer JAKA raises $46.4m in Series C round JAKA Robotics, a Chinese startup that offers collaborative robots to clients… Continue reading China Digest: Cobots developer JAKA gets $46m; AI startup WAYZ bags $40m
Chinese self-driving startup WeRide closes Series B round at $310m
Chinese autonomous vehicle startup WeRide announced on Thursday the completion of its Series B2 and B3 rounds of financing, less than one month after the firm raised $200 million in a Series B1 round in late December. Guangzhou, China-based WeRide garnered a combined $310 million across the three tranches. Upon the completion of the Series… Continue reading Chinese self-driving startup WeRide closes Series B round at $310m
South Korea’s Hanwha leads $300m round in Grab’s financial services arm
Southeast Asian ride-hailing and food delivery giant Grab said on Thursday it has raised more than $300 million from investors led by South Korea’s Hanwha Asset Management Co. Ltd for its fast-growing financial services business. It is the first external funding for Grab’s fintech business, which has chalked out ambitious plans in insurance, lending, wealth… Continue reading South Korea’s Hanwha leads $300m round in Grab’s financial services arm
Apple supplier Foxconn inks partnership with Geely for contract manufacturing of cars
Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers. They will each hold 50% of a venture that will also provide consulting services on electric vehicle (EV) technologies to automakers, the companies said in a statement. It marks the latest move by… Continue reading Apple supplier Foxconn inks partnership with Geely for contract manufacturing of cars
Elon Musk’s Tesla registers subsidiary in India, names three directors
According to a Registrar of Companies (RoC) filing, the new entity Tesla India Motors and Energy Private Limited is registered in Bengaluru, Karnataka and is classified as a subsidiary of a foreign company. It has also registered its office in Lavelle Road, a business district in the southern city, with paid-up capital of ₹1 lakh and… Continue reading Elon Musk’s Tesla registers subsidiary in India, names three directors
Cognizant to acquire US-based cloud transformation consultancy group Linium
The acquisition marks Cognizant’s seventh cloud-related acquisition since January 2020, and continued investment in expanding capabilities in the strategic focus areas of cloud, data and artificial intelligence (AI), digital engineering, and internet of things (IoT). Including Linium, Cognizant has invested approximately $1.4 billion in acquisitions over the past 12 months in these areas. “Linium’s specialized… Continue reading Cognizant to acquire US-based cloud transformation consultancy group Linium
Goldman-backed car maintenance startup Tuhu looks to raise at least $200m
A Chinese online car-services platform backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. is seeking fresh funding at a valuation of about $4 billion, according to people familiar with the matter. Shanghai Lantu Information Technology Holding Ltd., commonly known as Tuhu, is working with advisers on the new round that could… Continue reading Goldman-backed car maintenance startup Tuhu looks to raise at least $200m
China’s Baidu said to plan smart EV firm, to make cars at Geely plant
China’s Baidu Inc plans to form a company to make smart electric vehicles (EV), two sources familiar with the matter said, with manufacturing to be carried out at plants owned by automaker Geely. Baidu, the leading search engine company in China, will take a majority stake and absolute voting power in the new company. The venture will revamp some of Geely‘s existing car manufacturing facilities to make the vehicles, with in-car software input from Baidu and… Continue reading China’s Baidu said to plan smart EV firm, to make cars at Geely plant