Rockets Capital, a fund focused on investments in the smart energy vehicle (EV) supply chain, said on Thursday it raised more than $200 million from investors that included Xpeng, Sequoia China, IDG Capital and GGV Capital. The round’s strategic anchor investor was electric vehicle manufacturer Xpeng, Rockets Capital said in a statement, adding that eGarden and 5Y Capital were among other investors. Rockets Capital, which… Continue reading EV-focused fund Rockets Capital raises $200m from Xpeng, others …
Author: Deal Street Asia Online News
Chinese EV battery maker Phylion looks to raise $236m in new round
Phylion, a maker of lithium-ion batteries for electric vehicles (EVs), is planning to raise up to 1.5 billion yuan ($236 million) in a new round of financing, according to a statement on Tuesday. State-backed Shenzhen Capital Group, the lead investor of the round, has already seeded 950 million yuan ($149 million), the statement added. Upon… Continue reading Chinese EV battery maker Phylion looks to raise $236m in new round
Ride-hailing firm Didi said to halt Hong Kong listing plans …
Ride-hailing firm Didi Global Inc has suspended preparations for its Hong Kong listing after failing to appease Chinese regulators’ demand to overhaul its systems for handling sensitive user data, Bloomberg News reported on Thursday. The Cyberspace Administration of China told Didi executives that their proposals to prevent security and data leaks had fallen short, Bloomberg said, citing people familiar with the matter. Didi did not immediately… Continue reading Ride-hailing firm Didi said to halt Hong Kong listing plans …
Self-driving startup Pony.ai valued at $8.5b after first tranche of Series D funding …
Self-driving tech company Pony.ai, backed by Toyota Motor Corp, has raised the first tranche of its Series D round of financing to reach a valuation of $8.5 billion, the startup announced on Monday. While it did not disclose the investors or financial details of the first tranche, Pony.ai said that the fresh capital brought its… Continue reading Self-driving startup Pony.ai valued at $8.5b after first tranche of Series D funding …
Air taxi startup Volocopter raises $170m from Korea’s WP Investment, others …
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 …
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