Shares in China Evergrande Group fell as much as 4.8% on Monday morning, after its chairman trimmed his stake in the cash-strapped property developer to raise about $344 million. The group’s electric vehicle unit, China Evergrande New Energy Vehicle Group Ltd, also dropped more than 5% after it said the company was still exploring ways to pump capital into the unit with different investors. Evergrande has… Continue reading China Evergrande shares fall after chairman cuts stake
Author: Deal Street Asia Online News
Chinese regulators want Didi to delist from US on data security fears: report
Chinese regulators have asked top executives of ride hailing giant Didi Global Inc to devise a plan to delist from US bourses on data security fears, Bloomberg News reported. China’s tech watchdog wants the management to take the company off the New York Stock Exchange on concerns about leakage of sensitive data, the report said, citing people… Continue reading Chinese regulators want Didi to delist from US on data security fears: report
Baidu, Pony.ai get nod to launch paid, driverless robotaxi services in Beijing …
Chinese tech group Baidu Inc and self-driving startup Pony.ai have won approval to launch paid driverless robotaxi services that will see the firms deploy not more than 100 vehicles in an area in China’s capital Beijing. The state-backed Beijing Daily newspaper reported on the approvals on Thursday, citing a ceremony held by the Beijing Economic and… Continue reading Baidu, Pony.ai get nod to launch paid, driverless robotaxi services in Beijing …
Indian EV startup Simple Energy looks to boost capacity after $21m funding
The round saw participation from current investors and board members, Manish Bharti of UiPath; and Raghunath Subramanian, non-executive chairman, UiPath India, respectively. New investors such as Sattva Group, Athiyas Group along with several high net-worth individuals (HNIs) also invested as a part of the round. According to the company, the funds raised will be used… Continue reading Indian EV startup Simple Energy looks to boost capacity after $21m funding
EV startup Simple Energy raises $21m funding and 19 other India deals
Premium Bengaluru-based electric vehicle startup Simple Energy has raised $21 million (Rs 155 crore) in a pre-series investment round, it said in an announcement. The oversubscribed funding round was driven by the company’s current investors and board members, Manish Bharti of UiPath and Raghunath Subramanian, non-executive chairman, UiPath India, respectively, the startup said in a… Continue reading EV startup Simple Energy raises $21m funding and 19 other India deals
Ride-hailing giant Grab set to invest in Indonesia’s wealth tech firm Bareksa
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AV startup MooVita scores fresh funding and other SE Asia deals
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 AV startup MooVita scores fresh funding and other SE Asia deals
Indian EV maker Euler Motors raises additional $10m
Source: Euler Motors website Euler Motors has raised an additional $10 million led by the Delhi-based QRG Investments and Holdings today. Euler Motors also plans to further raise $50 million in its Series B round in the coming year. The company plans to utilise these funds to scale up and strengthen its production capacity to deliver… Continue reading Indian EV maker Euler Motors raises additional $10m
China Evergrande sells entire stake in streaming firm HengTen for $273m
Cash-strapped developer China Evergrande Group said on Thursday it is selling its entire stake in film and television streaming company HengTen Network Holdings for HK$2.13 billion ($273.5 million). Evergrande, the world’s most indebted developer, said it would realise a loss of HK$8.5 billion from the sale of its stake in HengTen, in which Chinese gaming and social media giant Tencent Holdings holds around a 20% share. The Shenzhen-based real… Continue reading China Evergrande sells entire stake in streaming firm HengTen for $273m
Vietnam’s Vinfast plans US listing in a couple of years, says CEO …
Vietnamese automaker VinFast plans to list on the U.S. stock market within the next couple of years, its chief executive told Reuters, joining a growing list of electric vehicle startups taking advantage of investor excitement to raise money. VinFast, established in 2017 as part of Vingroup JSC, the largest conglomerate in the Communist-ruled country, also… Continue reading Vietnam’s Vinfast plans US listing in a couple of years, says CEO …