Author: Deal Street Asia Online News

Vantage Point: Indonesia becomes a battleground for used car platforms and other updates

This weekly newsletter highlights top developments and trends across Southeast Asia’s digital economy and ecosystem, without losing sight of the solid links between the online and offline worlds. Executive Summary Used car race hots up in Indonesia Ajaib widens fintech play Vidio dominating OTT in Indonesia Grab stakes its claim in digital banking Used car… Continue reading Vantage Point: Indonesia becomes a battleground for used car platforms and other updates

China’s CATL launches service that lets users swap EV battery in a minute …

China’s Contemporary Amperex Technology Co Ltd (CATL) on Tuesday launched a battery swap service for electric vehicles (EV) called EVOGO, which it said would allow drivers to change car batteries in one minute. The battery maker will set up swap stations in ten cities around China and users will be able to access the service… Continue reading China’s CATL launches service that lets users swap EV battery in a minute …

UK self-driving startup Wayve raises $200m Series B from Microsoft, others

British self-driving technology startup Wayve said on Tuesday it has raised $200 million from investors to scale up its autonomous driving technology globally and launch more pilot projects with commercial fleet partners. The Series B funding round brings the startup’s total fundraising to $258 million and includes new investments from venture capital firms D1 Capital Partners, Moore… Continue reading UK self-driving startup Wayve raises $200m Series B from Microsoft, others

Indonesia’s used cars platform Moladin closes $42m Series A round

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 Indonesia’s used cars platform Moladin closes $42m Series A round

Hero Motocorp to invest over $56m in Indian EV startup Ather Energy …

Indian two-wheeler vehicle maker Hero Motocorp Ltd said on Friday it would invest up to 4.20 billion rupees ($56.66 million) in electric vehicle (EV) startup Ather Energy as it looks to expand its presence in the green mobility space. The company, which held 34.8% in Ather Energy prior to the investment, said its new stake in the startup would… Continue reading Hero Motocorp to invest over $56m in Indian EV startup Ather Energy …

Mahindra’s SsangYong Motor sold for $255m to Edison Motors-led consortium

A consortium led by South Korean electric carmaker Edison Motors Co has agreed to acquire the debt-laden SsangYong Motor Co Ltd for 305 billion won ($254.65 million), SsangYong Motor said on Monday. SsangYong is burdened with high debt and its vehicle sales last year fell to 84,496, down about 21% from a year earlier, a regulatory filing from… Continue reading Mahindra’s SsangYong Motor sold for $255m to Edison Motors-led consortium

China Evergrande to meet bondholders to delay redemption date

China Evergrande Group will seek a six-month delay in the redemption and coupon payments of a 4.5 billion yuan ($156.92 million) bond in a meeting with bond holders this weekend, underscoring the pressure on the debt-laden property developer. Evergrande is struggling to repay more than $300 billion in liabilities, including nearly $20 billion of offshore… Continue reading China Evergrande to meet bondholders to delay redemption date

SenseTime shares jump as much as 23% on debut after $740m Hong Kong IPO …

SenseTime Group shares surged as much as 23% from their IPO price on Thursday, adding billions of dollars to the artificial intelligence start-up’s market value as it debuted in Hong Kong in the city’s final major float for the year. Some analysts had expected the shares to struggle due to weak demand during the IPO… Continue reading SenseTime shares jump as much as 23% on debut after $740m Hong Kong IPO …