Daimler’s main Chinese joint venture partner BAIC Group has signalled its intention to increase its stake in the German luxury car manufacturer, sources briefed on the matter said, after it built up a 5% Daimler stake in July. Officials at BAIC‘s listed company BAIC Motor Corp Ltd said at investor conferences in mid-October that “both sides are willing to increase… Continue reading China’s BAIC said to be willing to increase Daimler stake
Author: Deal Street Asia Online News
Grab announces ride-hailing partnerships in Japan, Middle East
Grab users in Singapore, Malaysia, and the Philippines will be able to book rides using the Grab app while visiting Japan and 13 countries in the Middle East, the Southeast Asian ride-hailing unicorn announced Monday. In a statement, Grab said it has partnered with JapanTaxi in Japan and Careem in the Middle East to provide… Continue reading Grab announces ride-hailing partnerships in Japan, Middle East
Hyundai wins bid for stake in Asiana Airlines, to inject over $1.7b
South Korean builder Hyundai Development Co said on Tuesday its consortium has been picked as the preferred bidder for a controlling stake in Asiana Airlines and would inject over $1.7 billion into the debt-ridden carrier. The deal would draw a line under a tumultuous period for the country’s No.2 carrier which is saddled with 9.6… Continue reading Hyundai wins bid for stake in Asiana Airlines, to inject over $1.7b
Beyond Ventures leads $3m investment in HK-based indoor mapping platform Mapxus
Hong Kong-based venture capital firm Beyond Ventures on Tuesday announced that it has led a $3 million investment in Mapxus, an indoor mapping service provider. Mapxus solutions produce digital and panoramic indoor maps to facilitate a cross-platform indoor-positioning capability. The startup will invest the fresh capital in research and development (R&D), sales, marketing and operational… Continue reading Beyond Ventures leads $3m investment in HK-based indoor mapping platform Mapxus
Uber to invest $247m in Indian entity to fuel Eats business
American ride-hailing giant Uber Technologies Inc. is pumping in about $247 million (Rs 1,767 crore) in Uber India Systems Pvt Ltd in one of its largest infusions in the Indian unit. According to the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc, the Dutch entities of Uber, Uber International Holding B.V. and… Continue reading Uber to invest $247m in Indian entity to fuel Eats business
Jaguar Land Rover parent Tata approaches BMW, Geely in search for partners
Tata Group, the owner of Jaguar Land Rover, has approached carmakers including China’s Zhejiang Geely Holding Group Co. and BMW AG as it seeks partnerships for the beleaguered British automotive business, people with knowledge of the matter said. India’s largest conglomerate has said it’s open to finding partners for JLR to save on costs and… Continue reading Jaguar Land Rover parent Tata approaches BMW, Geely in search for partners
African logistics platform Lori closes $30m led by Hillhouse, Crystal Stream
Lori Systems, an African logistics platform that connects cargo owners with truck fleets, has secured nearly $30 million in a Series A round of financing led by Chinese investors Hillhouse Capital Group and Crystal Stream Capital. Apoletto Asia, the investment vehicle of DST Global’s Russian billionaire founder Yuri Milner, seed stage-focused venture capital firm Timon… Continue reading African logistics platform Lori closes $30m led by Hillhouse, Crystal Stream
Indian logistics startup Delhivery plans to use electric vehicles to scale up delivery
Leading logistics startup Delhivery Pvt Ltd plans to use electric vehicles and drones to scale up their delivery process, although the latter is still under regulatory lens, said a company executive. The Gurugram-based firm plans to deploy electric vehicles to scale up their operations in the near future. “We believe this is the only scalable… Continue reading Indian logistics startup Delhivery plans to use electric vehicles to scale up delivery
Chinese auto parts firm Casstime raises $80m from Sequoia, others
Chinese auto parts e-commerce platform Casstime has raised as much as 564 million yuan ($80 million) in a Series C1 funding found co-led by Sequoia Capital China and Source Code Capital, according to an announcement The round also saw the participation of its long-standing investor HUA Partners. With the current round investment, the total amount… Continue reading Chinese auto parts firm Casstime raises $80m from Sequoia, others
Kia Motors leads $25m funding in S Korean startup CODE42
South Korea’s autonomous transportation-as-a-service startup CODE42 has raised $25 million (KRW 30 billion) in its pre-Series A funding round led by Kia Motors, marking one of the largest investments in the Korean startup space. Other investors who participated in the current round include Korean conglomerates SK Group, LG and CJ. As the lead investor, Kia… Continue reading Kia Motors leads $25m funding in S Korean startup CODE42