Author: Deal Street Asia Online News

Hyundai Motor says it is in early talks with Apple for tie-up in EVs, batteries

Hyundai Motor Co said it was in early discussions with Apple after Korea Economic Daily TV reported that the two were in talks to cooperate on electric cars and batteries, sending Hyundai‘s shares surging 24%. “Apple and Hyundai are in discussions but they are at an early stage and nothing has been decided,” Hyundai Motor said in a statement. The… Continue reading Hyundai Motor says it is in early talks with Apple for tie-up in EVs, batteries

LafargeHolcim buys Firestone Building Products from Japan’s Bridgestone in $3.4b deal

LafargeHolcim, the world’s biggest cement maker, on Thursday, announced $3.4 billion deal to buy Firestone Building Products from Japan’s Bridgestone Corporation in its biggest acquisition in more than a decade. The purchase of the roofing products business is the biggest under CEO Jan Jenisch, who since taking over in 2017 has focussed on paying down debts, quitting… Continue reading LafargeHolcim buys Firestone Building Products from Japan’s Bridgestone in $3.4b deal

Italy’s CNH Industrial revives talks to sell truckmaker Iveco to China’s FAW

CNH Industrial is in talks with China’s FAW over the future of truckmaker Iveco, the Italian-American group said on Wednesday after sources told Reuters it had revived previously aborted negotiations. A spokesman for CNH Industrial – whose new CEO, Scott W. Wine, took office this week – confirmed that the group is in preliminary discussions over… Continue reading Italy’s CNH Industrial revives talks to sell truckmaker Iveco to China’s FAW

UK-based self-driving software startup Oxbotica raises $47m from Tencent, others

Self-driving software startup Oxbotica said on Wednesday it has raised $47 million in its latest funding round led by the venture arm of oil giant BP and including health and safety device maker Halma Plc and Tencent. The startup, an Oxford University spin-out that develops autonomous systems that could be used in vehicles from taxis to freight… Continue reading UK-based self-driving software startup Oxbotica raises $47m from Tencent, others

Warburg-backed Chinese car parking firm Sunsea secures $100m Series B

Chinese car parking management firm Sunsea Parking has secured $100 million in a Series B round of financing from global investment bank Goldman Sachs’s venture department and Korean PE firm Anchor Equity Partners, according to a company statement on Tuesday. Chinese new economy-focused investment bank Paradigm Advisors was the advisor for the Series B round.… Continue reading Warburg-backed Chinese car parking firm Sunsea secures $100m Series B

Foxconn to make electric SUVs with cash-strapped Chinese startup Byton, may invest $200m

Cash-strapped Chinese startup Byton, Apple assembler Foxconn and the Nanjing Economic and Technological Development Zone have agreed to start building electric sport-utility vehicles in 2022, according to a statement on Monday. Young Liu, chairman of Foxconn said in the statement that the partnership with Byton will be a key part in Foxconn’s strategy in electric vehicle (EV) industry.… Continue reading Foxconn to make electric SUVs with cash-strapped Chinese startup Byton, may invest $200m

Indian auto major M&M in talks to offload majority stake in Ssangyong

Mahindra & Mahindra Ltd. is in discussions with an investor for selling a majority stake in Ssangyong Motor Co. as India’s largest SUV maker reassesses its investments amid the pandemic. Mahindra will hold 30% or less in Ssangyong if the deal goes through and will also do a 25% capital reduction, Pawan Goenka, managing director… Continue reading Indian auto major M&M in talks to offload majority stake in Ssangyong

Gojek picks up 22% stake in Bank Jago, opening door to digital banking for customers

Indonesian ride-hailing and super app Gojek has picked a 22 per cent stake in Bank Jago through its payments and financial services arm GoPay, for an undisclosed amount. The partnership will allow Bank Jago to provide digital banking services through the Gojek platform. Gojek’s millions of users will be able to instantly open a bank… Continue reading Gojek picks up 22% stake in Bank Jago, opening door to digital banking for customers

Indian mobility startups eye new offerings to fuel EV strategy

Vogo, a two-wheeler shared mobility startup, plans to launch low-speed EV variants, while Yulu, the biggest in this space, is exploring high-speed variants as part of its product offering. “We aim to introduce low-speed variants in the first half of 2021 as there is a market for this segment in short distances. We are finalising… Continue reading Indian mobility startups eye new offerings to fuel EV strategy