German aviation startup Volocopter said on Friday it had raised $170 million from investors including funds run by Korean WP Investment in a new financing round as it seeks certification for its battery-powered flying taxi. Volocopter said the total funds it had raised jumped to $579 million and its pre-money valuation was at $1.7 billion. The company said… Continue reading Air taxi startup Volocopter raises $170m from Korea’s WP Investment, others …
Author: Deal Street Asia Online News
S Korea’s Hyundai Motor plans to invest $16b in EV push
South Korea’s Hyundai Motor Co said on Wednesday it planned to invest about 95.5 trillion won ($79.21 billion) through 2030, including about 19.4 trillion won ($16.10 billion) towards electric vehicle (EV) related businesses. Hyundai Motor, which together with affiliate Kia Corp 000270.KS is among the world’s top 10 biggest automakers by sales, targets to achieve a 7% market share in… Continue reading S Korea’s Hyundai Motor plans to invest $16b in EV push
Chinese automakers, EV firms invest $385m in Sunwoda’s battery unit at $2b valuation …
Sunwoda Electric Vehicle Battery, an electric vehicle (EV) battery maker affiliated with the publicly-listed Sunwoda Electronic, is planning to raise 2.43 billion yuan ($385.1 million) from a consortium of investors including China’s major EV firms and traditional automakers. The 19 investors have agreed to purchase about 19.5% shares in Sunwoda Electric Vehicle Battery for 2.43… Continue reading Chinese automakers, EV firms invest $385m in Sunwoda’s battery unit at $2b valuation …
Chinese EV firm Nio pursues HK secondary listing
Chinese electric vehicle (EV) maker Nio Inc will carry out a secondary listing in Hong Kong by way of introduction, according to stock exchange filings on Monday. The New York-listed firm said it had received preliminary approval from the Hong Kong Stock Exchange to trade its shares in the city. Nio said the Class A shares are due to start trading on March… Continue reading Chinese EV firm Nio pursues HK secondary listing
Temasek-backed Ola Electric plans to build battery plant in India
Softbank Group-backed Ola Electric plans to build a battery cell manufacturing plant in India with a capacity of up to 50 gigawatt hours (GWh), a source told Reuters, as part of its broader electrification push. Ola will need 40 Gwh of battery capacity to meet its annual target to produce 10 million electric scooters and the remainder will be for electric cars,… Continue reading Temasek-backed Ola Electric plans to build battery plant in India
China says ride-hailing firms must disclose pricing details to the public
China‘s transport ministry said on Thursday that ride–hailing companies should disclose pricing details to the public, according to state broadcaster China Central Television. Wang Xiuchun, deputy director of the Department of Transport Services of the Ministry of Transport, also said at a press conference that online ride–hailing firms should set reasonable upper limits on commissions and make them public. Reuters Go to Source
Indonesian ride-hailing giant Gojek expands EV trial to boost adoption
Electrum, a joint venture between Indonesian major ride-hailing firm Gojek and energy company TBS Energi Utama, is set to expand Gojek’s electric vehicle (EV) commercial trial to facilitate EV adoption in the country. Electrum, in cooperation with state-owned energy company Pertamina and Taiwanese battery-swapping electric scooter maker Gogoro, will add “thousands” of EVs into Gojek’s… Continue reading Indonesian ride-hailing giant Gojek expands EV trial to boost adoption
SoftBank’s Vision Fund 2 leads $100m round in China’s Sobot
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to… Continue reading SoftBank’s Vision Fund 2 leads $100m round in China’s Sobot
Uber posts quarterly profit on strong delivery, recovering ride demand
Uber Technologies Inc on Wednesday reported its second quarterly operating profit as demand for its ride-hailing service approached pre-pandemic levels and its food delivery business turned profitable for the first time. The company’s first-quarter outlook fell short of Wall Street expectations as the Omicron coronavirus variant dampens travel, but Uber Chief Executive Dara Khosrowshahi said business had started… Continue reading Uber posts quarterly profit on strong delivery, recovering ride demand
China’s New Energy Vehicles market may have crossed a turning point as sales zoom
Premium China’s new-energy vehicle (NEV) industry set records in 2021. The country produced 3.54 million NEVs, including battery-electric cars and plug-in hybrids, and sold 3.52 million of them. Sales were up 181% from 2020 and exceeded the total of the previous three years. In 2021, NEVs made up 15.7 % of the country’s car market.… Continue reading China’s New Energy Vehicles market may have crossed a turning point as sales zoom