Chinese ride-hailing giant Didi Chuxing announced on Friday that its autonomous driving subsidiary has raked in $500 million in what is the firm’s first external funding round since Didi created the subsidiary in 2016. Led by SoftBank’s Vision Fund 2 and claimed to be the largest fundraising round in China’s autonomous driving sector, the transaction… Continue reading Chinese ride-hailing giant Didi Chuxing rakes in $500m for autonomous driving unit
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SoftBank leads $500 million fundraising for Didi’s self-driving unit
FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee BEIJING/SHANGHAI (Reuters) – China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary that was led by SoftBank Group’s (9984.T) Vision Fund 2. The… Continue reading SoftBank leads $500 million fundraising for Didi’s self-driving unit
Renault plans 17.5% production cut to save £1.8bn by 2024
Renault has laid out plans to implement 14,600 job cuts as it reduces its global vehicle production output by 17.5% in a bid to save £1.8 billion by 2024. A day after Alliance partner Nissan announced the transformation of its global manufacturing operations and an accompanying reduction in its model range, Renault revealed similar steps… Continue reading Renault plans 17.5% production cut to save £1.8bn by 2024
Williams considers sale of struggling F1 team
FILE PHOTO: Formula One F1 – Pre Season Testing – Circuit de Barcelona-Catalunya, Barcelona, Spain – February 19, 2020 Williams’ George Russell in action with aero rakes attached to the car during testing REUTERS/Albert Gea LONDON (Reuters) – Williams is considering a sale of its once-dominant but now struggling Formula One team as part of… Continue reading Williams considers sale of struggling F1 team
China’s Didi Chuxing raises over $500 million for autonomous driving unit
FILE PHOTO: Logo of Didi Chuxing is seen at its headquarters building in Beijing, China August 28, 2018. REUTERS/Jason Lee SHANGHAI (Reuters) – China’s Didi Chuxing said on Friday it had completed a fundraising round of over $500 million for its autonomous driving subsidiary. The ridehailing giant said the round was led by SoftBank Vision… Continue reading China’s Didi Chuxing raises over $500 million for autonomous driving unit
Private Equity Firm Takes Stake in CarTrawler
CarTrawler announces the winners of its 2019 Customer Satisfaction Awards in Dublin in November, 2019. Photo courtesy of CarTrawler. CarTrawler, a B2B provider of car rental and mobility solutions to the global travel industry, announced on May 19 a controlling equity investment more than €100 million ($111 million) from TowerBrook Capital Partners L.P., an international investment… Continue reading Private Equity Firm Takes Stake in CarTrawler
Airbag maker Autoliv sees April sales tumble as pandemic hits demand
STOCKHOLM, May 29 (Reuters) – Sweden’s Autoliv , the world’s largest maker of airbags and seatbelts, on Friday said it had seen a very challenging start to the second quarter with the North American and European markets grinding to a halt in April. “With our largest markets Americas and Europe virtually standing still in April,… Continue reading Airbag maker Autoliv sees April sales tumble as pandemic hits demand
Elon Musk reaches first Tesla compensation award worth nearly $800 million
Tesla CEO Elon Musk has unlocked the first of 12 possible stock option awards from the massive compensation plan he signed in 2018, and it’s worth nearly $800 million. The company disclosed on Thursday that Musk now has the option to buy 1.69 million of its shares because Tesla eclipsed $20 billion in total revenue… Continue reading Elon Musk reaches first Tesla compensation award worth nearly $800 million
Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)
Days after Uber laid off about a quarter of its workforce, one of its senior executives — marketing leader Jill Hazelbaker — sold more than half of her stake of Uber shares for $8.6 million. Employees have been chattering about the sale internally, not only because of its timing but because of its size, with… Continue reading Days after layoffs, an Uber exec sold over half her Uber stock for $8.6 million, while cofounder Garrett Camp has sold $69.6 million in stock since March 12 (UBER)
Elon Musk has officially hit the first milestone of his $55 billion compensation package (TSLA)
Elon Musk unlocks first part of $55 billion compensation package – Business Insider World globe An icon of the world globe, indicating different international options.” US Edition Facebook Icon The letter F. Twitter icon A stylized bird with an open mouth, tweeting. LinkedIn icon The word “in”. YouTube icon A play button in the shape… Continue reading Elon Musk has officially hit the first milestone of his $55 billion compensation package (TSLA)