China’s Didi Chuxing and electric vehicle maker BYD on Monday launched their purpose-built D1 van model for ride-hailing services, the first model the ride-hailing giant has unveiled since it said it was working on such a vehicle in 2018. SoftBank-backed Didi and Shenzhen-based BYD, which is backed by U.S. investor Warren Buffett, started to jointly design and… Continue reading Didi Chuxing, BYD roll out first customised electric vehicle for ride-hailing services
Author: Deal Street Asia Online News
Parent of BMW’s Chinese JV partner may have to restructure after $151m bond default
Brilliance Automotive Holdings, the Chinese joint venture partner of BMW, said its parent Huachen Automotive Group may undergo restructuring after a creditor filed an application to a Chinese court. Huachen, owned by the government of Liaoning province, defaulted on a 1-billion-yuan ($151.88 million) bond last month, joining a growing number of delinquent state firms in… Continue reading Parent of BMW’s Chinese JV partner may have to restructure after $151m bond default
Asia Digest: Grab partners with Lazada Vietnam; ARA Asset unit buys Korean tower
Grab Vietnam and Lazada Vietnam will partner to provide a seamless digital experience to consumers in the country, while Singapore-based ARA Asset Management’s Korean subsidiary has acquired a landmark office tower in Seoul. Grab partners with Lazada Vietnam Grab Vietnam and e-commerce firm Lazada Vietnam today announced a partnership that aims to provide a seamless… Continue reading Asia Digest: Grab partners with Lazada Vietnam; ARA Asset unit buys Korean tower
SoftBank in talks to sell robot-maker Boston Dynamics to Hyundai
SoftBank Group Corp is in talks to sell robot maker Boston Dynamics Inc to Hyundai Motor Co in a deal valued at as much as $1 billion, Bloomberg News reported on Monday, citing people familiar with the matter. Terms of the deal are yet to be finalised, according to the report. The company’s products include… Continue reading SoftBank in talks to sell robot-maker Boston Dynamics to Hyundai
India: Electric scooter startup Ather Energy raises $35m led by Sachin Bansal
Electric two-wheeler maker Ather Energy has raised $35 million in a funding round led by Flipkart co-founder Sachin Bansal, who invested $23 million in the round, as per a statement. The Series D round was joined by Hero MotoCorp, which invested $12 million. Sachin Bansal had first invested $500,000 in the company as an angel… Continue reading India: Electric scooter startup Ather Energy raises $35m led by Sachin Bansal
Chinese autonomous truck startup Inceptio raises $120m from CATL, others
China’s Inceptio Technology, a startup developing self-driving trucks, said on Monday it has raised $120 million in its latest funding led by top Chinese electric vehicle battery maker CATL. The funding comes six months after a $100 million funding in April. Logistics firm GLP, Inceptio’s key strategic investor G7 and Nio Capital also invested in… Continue reading Chinese autonomous truck startup Inceptio raises $120m from CATL, others
Indian e-bicycle firm AlphaVector launches its first e-bike Meraki
AlphaVector, an Indian startup has announced the launch of its first e-bicycle in India – Meraki by Ninety One. Launched at a price of 29,999, the e-bicycle requires no license and is aimed at the growing e-bike market in India. AlphaVector has set foot into the global e-bicycle market which is touted to cross $38.6 billion in 2025. According… Continue reading Indian e-bicycle firm AlphaVector launches its first e-bike Meraki
Indonesian e-trucking platform Logisly raises $6m led by Monk’s Hill Ventures
Indonesian e-forwarding startup Logisly has announced the close of its $6 million Series A funding round led by Silicon Valley-based VC firm Monk’s Hill Ventures, confirming an earlier report by DealStreetAsia. The company did not disclose the other investors in the round. In an official statement, the company said it will use the fresh capital… Continue reading Indonesian e-trucking platform Logisly raises $6m led by Monk’s Hill Ventures
Toyota to invest $500m in KDDI to strengthen ties for ‘connected car’
Toyota Motor Corp and KDDI Corp said on Friday that Japan’s biggest automaker would invest 52.2 billion yen ($500 million) in the mobile carrier to deepen their partnership in the age of the “connected car”. After decades of focusing on making and selling cars, Toyota is increasingly turning to partners to help develop expensive new vehicle technologies as… Continue reading Toyota to invest $500m in KDDI to strengthen ties for ‘connected car’
China Evergrande to sell 40.96% stake in Xinjiang Guanghui to Shenergy
China Evergrande Group agreed to sell a 40.96% stake in Xinjiang Guanghui Industry Investment Group to Shenergy Co for 14.9 billion yuan, Guanghui Energy Co said in a disclosure on Sunday. Guanghui Energy is a subsidiary of Xinjiang Guanghui. Shenergy, a Shanghai-based power utility, will become the second-biggest shareholder of Xinjiang Guanghui, the disclosure said. Reuters Go to Source