Japan’s Mazda Motor Corp. will invest about $10.58 billion to electrify its vehicles, including boosting production of battery EVs, and aims to increase their share in the company’s overall global car sales by 2030. Mazda’s senior managing executive officer Akira Koga said the investment would be made along with its “partners”, without elaborating, and will… Continue reading Mazda to invest $11b by 2030 to electrify its vehicles, boost battery production
Author: Deal Street Asia Online News
Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Close on the heels of churning out a profit, Indogen Capital-backed employee benefit and fintech solutions company PT Venteny Fortuna International (Venteny) is targeting to raise 423 billion rupiah ($27 million) in a domestic initial public offering (IPO). According to a prospectus published on Monday, the Indonesian startup plans to release 939 million shares, or… Continue reading Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.
Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
U.S. private equity firm Carlyle Group Inc aims to enlarge its footprint in the Japanese automotive sector as the global shift to electric vehicles (EVs) shakes the industry’s supply chain, its executives said. With the world quickly moving to EVs, Japanese auto parts suppliers are reviewing strategies that were traditionally tailored for combustion-engine cars, Reiji… Continue reading Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.
People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires
Everstone Group’s managing director has joined UBS as an executive director. Separately, global brokerage and investment bank Vantage Capital Markets has appointed Federico Bazzoni as CEO of investment banking, while AXA IM Alts has appointed Lu Gao as head of Client Group Alts Asia. Phull to focus on SE Asia, Australia at UBS Atul Phull,… Continue reading People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires
China’s Letin raises $447m in Series A round to expand NEV sales
Letin, a Chinese new energy vehicle (NEV) manufacturer also known as “Levdeo,” announced on Monday that it has secured 3.2 billion yuan ($447.2 million) in a Series A round of financing to expand the business in China and worldwide. The lesser-known Chinese NEV company raised the Series A round from lead investor Weicheng West Investment… Continue reading China’s Letin raises $447m in Series A round to expand NEV sales
JD.com to cut salaries of senior executives by 10-20% next year
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Crypto exchange FTX’s total cash balance at $1.24b
Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, had a total cash balance of $1.24 billion as of Nov. 20, according to a court filing on Monday. FTX will see a drop in its cash flow by $20 million to $459 million by Dec. 23, from $479 million as of Nov. 25,… Continue reading Crypto exchange FTX’s total cash balance at $1.24b
Faraday Future warns it may not be able to deliver FF 91 luxury electric carThe EV startup said it had $32m in cash as of the quarter that ended Sept….
Faraday Future Intelligent Electric said on Monday it had “substantial doubt” about its ability to continue as a going concern, adding that it is uncertain when it can complete first deliveries of its FF 91 luxury electric car. The company had earlier planned to start deliveries of the car in the fourth quarter of this year. Faraday Future,… Continue reading Faraday Future warns it may not be able to deliver FF 91 luxury electric carThe EV startup said it had $32m in cash as of the quarter that ended Sept….
Strong Q3 suggests GoTo is on firm footing in ride towards profitabilityGoTo has advanced its group contribution margin breakeven timeline by one or t…
Indonesia-listed technology group PT GoTo Gojek Tokopedia Tbk reported positive third-quarter results on Monday by beating its own guidance despite incentive reductions for users and growing macroeconomic pressure. GoTo’s Q3 loss of 6.8 trillion rupiah ($432 million) notwithstanding, the group showed growth in its transactions, revenue, and key profitability metrics in the period. Go to… Continue reading Strong Q3 suggests GoTo is on firm footing in ride towards profitabilityGoTo has advanced its group contribution margin breakeven timeline by one or t…
FMO proposes $25m investment in SG energy company BE C&I Solutions
Dutch development bank FMO has proposed a $25 million investment in BE C&I Solutions Holdings Limited, a Singapore-based distributed energy business that develops, builds and operates solar PV rooftop and ground mount installations for commercial and industrial (C&I) customers in emerging markets, according to a disclosure. The company, earlier known as Berkeley Energy Commercial &… Continue reading FMO proposes $25m investment in SG energy company BE C&I Solutions