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
Author: Deal Street Asia Online News
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
China Evergrande to push ahead with sale of HK land after receiver appointment
China Evergrande Group will continue with efforts to sell a plot of undeveloped land in Hong Kong even after the appointment of a receiver by a creditor, a person with direct knowledge of the matter said. The appointment of a receiver will also not have any bearing on the group’s restructuring process, said the person. U.S. asset manager Oaktree Capital Management, a lender to Evergrande to develop a vast land plot in the rural… Continue reading China Evergrande to push ahead with sale of HK land after receiver appointment
Chinese EV maker Nio weighs Singapore listing amid delayed HK plan: Report
Nio, a Chinese electric car-maker listed on the New York Stock Exchange (NYSE), is said to be exploring a listing on the Singapore Exchange (SGX) instead of an earlier plan of floating shares in Hong Kong amid uncertainties over local regulatory scrutiny. Nio recently held a meeting to discuss the potential of a secondary listing… Continue reading Chinese EV maker Nio weighs Singapore listing amid delayed HK plan: Report
GM’s Cruise to raise $1.35b more from SoftBank as it readies robotaxis
Self-driving tech firm Cruise on Tuesday said SoftBank Group Corp’s Vision Fund has agreed to invest an additional $1.35 billion through a second tranche, as it works to launch a commercial ride-hailing service in San Francisco. Cruise, majority-owned by General Motors, has strong financial support from its investors including Honda and Microsoft and is not planning to… Continue reading GM’s Cruise to raise $1.35b more from SoftBank as it readies robotaxis
Chinese market regulators okay IPO of chip unit of automaker BYD …
Market regulators for China’s Shenzhen-based ChiNext board announced late on Wednesday the approval of the pending initial public offering (IPO) of the semiconductor unit of Chinese automaker BYD Co Ltd. The automaker originally filed for an IPO for BYD Semiconductor in Shenzhen in May 2021. However, in August, the company was forced to halt plans as a firm advising in its IPO process faced a regulatory probe. The company aims… Continue reading Chinese market regulators okay IPO of chip unit of automaker BYD …
Stellantis to raise stake in China JV with GAC to 75%
Stellantis plans to increase its stake in its 50-50 joint venture in China with Guangzhou Automobile Group (GAC) to 75% as part of its efforts to tackle one of the weak spots in its business. The deal remains subject to approval by the Chinese government, Stellantis, the world’s number four carmaker said on Thursday. Additional details on Stellantis‘… Continue reading Stellantis to raise stake in China JV with GAC to 75%
Taiwanese battery maker ProLogium inks investment deal with Mercedes-Benz …
Taiwanese battery maker ProLogium Technology Co on Thursday said it has signed a cooperation agreement with Daimler AG’s Mercedes-Benz to build test vehicles equipped with co-developed solid-state batteries in the coming years. ProLogium in a statement said it will receive “high double-digit” million euros in investment from the German luxury car maker which will also take a seat… Continue reading Taiwanese battery maker ProLogium inks investment deal with Mercedes-Benz …