The official numbers will come in over the next few days, but here are the headlines to look out for from 2022’s registrations. The UK’s best-selling vehicle is likely to be a van for the second year in succession, namely the Ford Transit Custom. Those battling for the top spot among cars included the Nissan… Continue reading Inside the industry: what to expect from 2022 sales figures
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Finalrentals Launches in Azerbaijan
The new partnership in the country is led by Jamila Rahimova, project manager of Finalrentals in Azerbaijan. Photo: Finalrentals Azerbaijan is now the new home of Finalrentals, the operator announced on Jan. 1. The partnership has been secured by one of the fastest-growing local car rental groups, led by Jamila Rahimova, a seasoned car rental industry… Continue reading Finalrentals Launches in Azerbaijan
China’s Orient Jiafu hits final close of fourth venture fund at $145mThe firm said over 60% of its existing LPs re-upped in the new venture fund.
Chinese investment firm Orient Jiafu has held the final close of its new technology venture fund at 1 billion yuan ($145.3 million). As the firm’s fourth venture fund, the vehicle secured capital commitments from China’s government-guided industry investment funds, state capital investors, privately-run investment companies, financial institutions, and listed companies, said Orient Jiafu in a… Continue reading China’s Orient Jiafu hits final close of fourth venture fund at $145mThe firm said over 60% of its existing LPs re-upped in the new venture fund.
Thai fashion platform Pomelo upsizes Series D target to $50m in possible down round
Thailand’s online fashion platform Pomelo has upsized the fundraising target of its Series D round to $50 million, according to a recent filing with Singapore’s Accounting and Corporate Regulatory Authority. The e-commerce startup had received approval from its board in July to raise up to $20 million in a Series D round, which was first… Continue reading Thai fashion platform Pomelo upsizes Series D target to $50m in possible down round
2023 crucial for home delivery, debt repayment: Evergrande chairman
This will be a “crucial year” for China Evergrande Group to fulfil home delivery to buyers, company Chairman Hui Ka Yan said in a letter to employees on New Year’s Day, adding he trusted the firm would be able to repay all its debt. Saddled with over $300 billion in liabilities and undergoing a debt… Continue reading 2023 crucial for home delivery, debt repayment: Evergrande chairman
Indian state-run firms to stay exempt from public shareholding norms
Indian state-run companies will continue to be exempt from the minimum public shareholding (MPS) norm that requires listed companies to maintain a 25% public shareholding, a government notification said late on Monday. The exemptions from the MPS norm will be valid for a “specified period” even if there is a change in ownership or control… Continue reading Indian state-run firms to stay exempt from public shareholding norms
Elon Musk’s SpaceX to raise $750m at $137b valuation: Report
Elon Musk’s SpaceX is raising $750 million in a new round of funding that values the rocket and satellite company at $137 billion from investors, including Andreessen Horowitz, CNBC reported late Monday. Reuters had reported in November that SpaceX was in talks about an offering of mostly secondary shares that could value the company at up to $150 billion,… Continue reading Elon Musk’s SpaceX to raise $750m at $137b valuation: Report
Tesla reports record quarterly deliveries but misses estimates
Tesla delivered 388,131 Model 3 compact sedans and Model Y sports utility vehicles (SUVs) compared with 17,147 Model X and Model S luxury cars. Tesla Inc on Monday reported record production and deliveries for fourth-quarter electric vehicles, but it missed Wall Street estimates, burdened by logistics problems, slowing demand, rising interest rates and fears of… Continue reading Tesla reports record quarterly deliveries but misses estimates
Electric vehicle registrations see a big jump in Karnataka
BENGALURU: The state has seen a nearly 1,500 per cent increase in e-vehicle registrations in three years, as per statistics from the ministry of road transport and highways (MoRTH). While 6,150 EVs were registered in 2019, the number hit 95,856 in 2022. Last year, monthly registrations of EVs crossed 10,000 in October (10,787) and November… Continue reading Electric vehicle registrations see a big jump in Karnataka
Tesla in pole position in Norway’s race to EV goal
The share of battery electric vehicles (BEV) sold rose to 79.3% of all new cars in 2022 from 65% in 2021, up from 2.9% a decade ago, the Norwegian Road Federation (OFV) said. By Victoria Klesty Four out of five new cars sold in Norway in 2022 were battery powered, led by Tesla, but some… Continue reading Tesla in pole position in Norway’s race to EV goal