July 23, 2018 The family behind Chinese car parts maker Ningbo Jifeng said on Monday that its revised takeover offer for German peer Grammer has been successful. The Wang family, majority shareholder of Ningbo Jifeng, said that 37.7 percent of the Grammer shares had been tendered, meeting a lowered acceptance threshold of 36 percent. The German automotive… Continue reading China’s Ningbo Jifeng succeeds with revised takeover offer for Germany’s Grammer
Author: Deal Street Asia Online News
Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
July 23, 2018 In China, where the future of the car is looking more and more electric, newcomers to the auto industry are looking for partners to help them build their vehicles. Enter Canadian auto supplier Magna International which aims to spearhead a shift to contract vehicle manufacturing through its new partnership with state-owned Chinese… Continue reading Magna-BAIC deal raises prospects for an ‘automotive Foxconn’ in China
Tata Motors renews talks to sell stake in engineering unit
July 23, 2018 Tata Motors Ltd., the owner of Jaguar Land Rover, has restarted talks on the sale of a stake in its engineering unit just months after a deal with Warburg Pincus was called off, people with knowledge of the matter said. The carmaker has started preliminary discussions with a private equity firm that… Continue reading Tata Motors renews talks to sell stake in engineering unit
SoftBank-backed Mapbox targets ride-hailing, self-driving cars
July 20, 2018 Mapbox Inc., backed by SoftBank Group Corp., says it has a role to play in Masayoshi Son’s vision for ride-hailing and autonomous cars. The provider of mapping data for Tinder, Evernote and Facebook Inc. in October raised $164 million in a funding round led by the SoftBank Vision Fund. The infusion was… Continue reading SoftBank-backed Mapbox targets ride-hailing, self-driving cars
SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
July 19, 2018 Camera technology company Light has announced the closing of a $121 million Series D funding round led by the SoftBank Vision Fund, with participation from Leica Camera AG. The SoftBank Vision Fund investment will be made in tranches, subject to certain conditions, the company said in an official release. Founded in 2013… Continue reading SoftBank Vision Fund leads $121m Series D funding in imaging firm Light
Ride-hailing giant Didi to spin off car services unit in up to $1.5b deal
July 17, 2018 Chinese ride-hailing giant Didi Chuxing Technology Co Ltd is looking to spin off its car services unit in a deal worth up to $1.5 billion ahead of its expected initial public offering, people with direct knowledge of the matter told Reuters. Didi is hoping to raise between $1 billion and $1.5 billion… Continue reading Ride-hailing giant Didi to spin off car services unit in up to $1.5b deal
India Digest: 19thMile, Spanugo get funds; Mobycy to raise $3m; Tata’s lending platform
July 13, 2018 In the startup space, sales acceleration platform 19th Mile has raised around Rs 1.2 crore ($180,000) in an angel round of funding, Spanugo has secured investment from Ideaspring Capital and The Fabric, while Gurugram-based bike sharing platform Mobycy is in advanced talks to raise $3 million from Venture Catalysts, IDG Ventures and Orios Venture… Continue reading India Digest: 19thMile, Spanugo get funds; Mobycy to raise $3m; Tata’s lending platform
China’s Pony.ai raises $102m in funding round co-led by ClearVue, Eight Roads
July 12, 2018 Autonomous vehicle company Pony.ai has raised a $102-million investment co-led by ClearVue Partners and Eight Roads in a follow-on funding round after its $112-million Series A round six months ago. Other new investors in the latest round, as announced in a statement, include Green Pine Capital Partners, China Merchants Capital, Redpoint Ventures… Continue reading China’s Pony.ai raises $102m in funding round co-led by ClearVue, Eight Roads
China Evergrande arm to buy 45% in EV startup Faraday Future
June 26, 2018 Evergrande Health Industry Group Limited, an arm of property developer China Evergrande Group, has acquired 45 per cent stake in Faraday Future, the new-energy vehicle startup founded by Jia Yueting whose conglomerate LeEco is battling a severe cash crunch. Evergrande Health has come in as a strategic investor after buying out the… Continue reading China Evergrande arm to buy 45% in EV startup Faraday Future
Fosun agrees to buy German production systems firm FFT
June 20, 2018 Chinese conglomerate Fosun International has agreed to acquire Germany-based automated and flexible production systems provider FFT GmbH & Co. KGaA (FFT) for a still undisclosed amount. In a statement, Fosun said it will acquire FFT from ATON GmbH, a German family-owned private investment firm, through the funds managed by Fosun, giving FFT… Continue reading Fosun agrees to buy German production systems firm FFT