Category: Automotive

Twitter is reportedly done with job cuts and has started hiring again

Twitter won’t be firing and laying off more people, Elon Musk reportedly told the staff members who remained after asking employees to commit to an “extremely hardcore” Twitter during an all-hands meeting. According to The Verge, which heard a partial recording of the event, the company is even actively looking for people to fill roles… Continue reading Twitter is reportedly done with job cuts and has started hiring again

Enterprise and National Expand Loyalty Benefits

The program extensions give loyalty members more flexibility to use their benefits when and how they want to use them. Photo: pixabay.com Enterprise Rent-A-Car and National Car Rental announced in a statement the company is expanding several loyalty benefits set to expire soon. First, National Car Rental’s Emerald Club program free rental days previously set to expire on Dec. 31, 2022,… Continue reading Enterprise and National Expand Loyalty Benefits

Legislation Introduced to Combat Catalytic Converter Thefts

The PART Act has broad support from industry associations such as NADA, NAFA, ATA, TRALA, and ACRA, the American Car Rental Association. Photo: Canva U.S. Senators Amy Klobuchar (D-Minn.) and Ron Wyden (D-Ore.) have introduced legislation to combat the rise in catalytic converter thefts, according to a news release. The Preventing Auto Recycling Thefts (PART) Act… Continue reading Legislation Introduced to Combat Catalytic Converter Thefts

Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.

Close on the heels of churning out a profit, Indogen Capital-backed employee benefit and fintech solutions company PT Venteny Fortuna International (Venteny) is targeting to raise 423 billion rupiah ($27 million) in a domestic initial public offering (IPO). According to a prospectus published on Monday, the Indonesian startup plans to release 939 million shares, or… Continue reading Indonesian employee benefit platform Venteny lines up $27m IPOThe startup booked a profit for the first time in H1 2022.

Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.

U.S. private equity firm Carlyle Group Inc aims to enlarge its footprint in the Japanese automotive sector as the global shift to electric vehicles (EVs) shakes the industry’s supply chain, its executives said. With the world quickly moving to EVs, Japanese auto parts suppliers are reviewing strategies that were traditionally tailored for combustion-engine cars, Reiji… Continue reading Carlyle bullish on Japanese auto industry as EV shift shakes supply chainsCarlyle aims to enlarge its footprint in the Japanese automotive sector.

People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires

Everstone Group’s managing director has joined UBS as an executive director. Separately, global brokerage and investment bank Vantage Capital Markets has appointed Federico Bazzoni as CEO of investment banking, while AXA IM Alts has appointed Lu Gao as head of Client Group Alts Asia. Phull to focus on SE Asia, Australia at UBS  Atul Phull,… Continue reading People Digest: Everstone’s Atul Phull joins UBS; Vantage Capital Markets, AXA IM Alts announce key hires

China’s Letin raises $447m in Series A round to expand NEV sales

Letin, a Chinese new energy vehicle (NEV) manufacturer also known as “Levdeo,” announced on Monday that it has secured 3.2 billion yuan ($447.2 million) in a Series A round of financing to expand the business in China and worldwide. The lesser-known Chinese NEV company raised the Series A round from lead investor Weicheng West Investment… Continue reading China’s Letin raises $447m in Series A round to expand NEV sales