Chinese battery firm CATL has taken a stake in Australian lithium miner PilbaraMinerals, both companies said on Wednesday, after a supply glut hammered the sector and forced Pilbara to raise equity to fund working capital. CATL, one of China’s leading electric-vehicle battery makers, has bought an 8.5% stake in Pilbara as part of a A$91.5 million ($61.8 million) capital… Continue reading China’s CATL acquires stake in Australian lithium miner PilbaraMinerals
Author: Deal Street Asia Online News
China Digest: Qiming invests $30m in Huimei; AutoX to deploy robo-taxis in Shanghai
Qiming has invested $30m in Huimei Technology, a Chinese medical AI solutions player, while AutoX and Shanghai authorities have announced a partnership to pilot the real-world use case of the country’s driverless future. Qiming invests $30m in Huimei Technology Huimei Technology, a Chinese artificial intelligence (AI)-powered medical solutions provider, has raised $30 million in a… Continue reading China Digest: Qiming invests $30m in Huimei; AutoX to deploy robo-taxis in Shanghai
India: Bike taxi startup Rapido raises $55.5m funding led by WestBridge
Bike taxi startup Rapido has raised around ₹400 crore in a round led by WestBridge Capital. New investors that have participated in this round include Alibaba’s BAce Capital and Shunwei Capital, along with existing investor Nexus, according to regulatory filings with the MCA, sourced from Paper.vc. This investment continues to mark the trend of investor… Continue reading India: Bike taxi startup Rapido raises $55.5m funding led by WestBridge
Tata Motors defers planned fundraise of up to $1.5b
Tata Motors Ltd has indefinitely deferred a planned fundraise of up to $1.5 billion in foreign currency loans after failing to garner sufficient interest from potential lenders, two people directly aware of the development said, requesting anonymity. The funds were to be raised by a Singapore-based entity of Tata Motors to refinance existing loans of Tata Motors… Continue reading Tata Motors defers planned fundraise of up to $1.5b
Volkswagen mulls buying stake in Chinese auto suppliers
Volkswagen AG is exploring potential investments in Chinese automotive suppliers as it seeks to secure access to key technology in the world’s largest car market, people familiar with the matter said. Options under discussion include buying equity stakes or forging joint ventures with Chinese suppliers, particularly firms with technology used in electric vehicles, according to… Continue reading Volkswagen mulls buying stake in Chinese auto suppliers
India: Hero MotoCorp’s Pawan Munjal in talks to invest in Ola Electric
Pawan Munjal might be the next big investor after Ratan Tata to invest in Ola Electric. Billionaire Pawan Munjal, chairman of Hero MotoCorp Ltd—India’s largest two-wheeler maker by sales—is in advanced talks to invest in the electric mobility arm of ride-hailing company Ola, said four people directly aware of the development. An investment in Ola… Continue reading India: Hero MotoCorp’s Pawan Munjal in talks to invest in Ola Electric
Russia’s Mail.ru buys controlling stake in car sharing company YouDrive
The logo of Mail.ru Group Ltd. sits on display in the company’s offices in Moscow, Russia, on Monday, June 17, 2013. Photographer: Andrey Rudakov/Bloomberg Russian internet firm Mail.ru Group has bought a controlling stake in car sharing operator YouDrive jointly with investment company Proxima Capital, Mail.ru said in a statement on Thursday. Mail.ru did not disclose the size of the stake or the cost… Continue reading Russia’s Mail.ru buys controlling stake in car sharing company YouDrive
Vietnamese conglomerate Vingroup applies for licence to launch airline ops
Vingroup JSC has applied for a licence to launch an airline next year as Vietnam’s largest conglomerate plans to expand its footprint in one of the fastest growing aviation markets, local media reported on Thursday. The group’s newly created unit, Vinpearl Air, has submitted the application with the Department of Planning and Investment of Hanoi,… Continue reading Vietnamese conglomerate Vingroup applies for licence to launch airline ops
Indonesia’s Astra, EverHaus close funding in logistics startup Trukita
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India Digest: CPPIB gets nod for Delhivery stake; GoMechanic in talks for funding
Canada Pension Plan Investment Board (CPPIB) has secured Competition Commission of India’s (CCI) approval to acquire Delhivery stake, while GoMechanic is in talks with Fosun International and Chiratae Ventures for funding. CPPIB gets CCI’s nod to buy Delhivery stake Canada Pension Plan Investment Board (CPPIB) has secured Competition Commission of India’s (CCI) approval to acquire… Continue reading India Digest: CPPIB gets nod for Delhivery stake; GoMechanic in talks for funding