World Bank Group member International Finance Corporation (IFC) is on the lookout for sector-focused opportunities such as climate change, circular economy, logistics, and mobility as it seeks to deepen its portfolio in the Asia-Pacific, said a senior executive to DealStreetAsia. IFC – also the world’s largest development institution focused on the private sector in emerging… Continue reading World Bank’s IFC eyeing sector fund opportunities in APAC
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Google in talks to top up in Indian hyperlocal delivery platform Dunzo
Alphabet Inc’s Google, which is already an investor in hyperlocal delivery startup Dunzo, is in talks to make an additional investment in the company, multiple sources privy to the development told DealStreetAsia. While the amount Google is looking to invest in Dunzo could not be ascertained, negotiations between the two firms are understood to be… Continue reading Google in talks to top up in Indian hyperlocal delivery platform Dunzo
Cool Japan Fund to invest $10m in Vietnam-based Pizza 4P’s
Tokyo-based private equity firm Cool Japan Fund (CJF) will invest around $10 million in 4P’s Holdings Pte Ltd, which operates Vietnam-based restaurant chain Pizza 4P’s, per an announcement. Concurrently, Vietnam-focused PE firm Mekong Capital has exited its investment in 4P’s to CJF and three other companies in a transaction completed last month, showed regulatory filings… Continue reading Cool Japan Fund to invest $10m in Vietnam-based Pizza 4P’s
Asia Inc looks to score the perfect goal at Qatar World Cup
Asia has never had a bigger presence at a World Cup than it will this year, either on or — by a more significant margin — off the field. A record six Asian teams will compete in the quadrennial soccer tournament, which kicks off in Qatar on Sunday, out of a total of 32. Asia-based companies,… Continue reading Asia Inc looks to score the perfect goal at Qatar World Cup
Buyout firm Carlyle seeks $1.6b for second renewable energy fund
Carlyle Group Inc is seeking at least $1.6 billion for its second private equity fund that will invest in assets focused on renewable energy and sustainability, according to people familiar with the matter. The Washington, D.C.-based firm began amassing capital this year for the new fund, dubbed Carlyle Renewable & Sustainable Energy Fund II, the sources said. If it meets its fundraising target, it would be double the size of its predecessor fund, the Carlyle Renewable & Sustainable Energy Fund, which… Continue reading Buyout firm Carlyle seeks $1.6b for second renewable energy fund
GM says supply chain issues won’t affect EV profitability by 2025
General Motors says supply chain constraints won’t hinder the automaker’s goal of reaching electric vehicle profitability by 2025. GM expects its EV portfolio to have “the same margin profile” as its internal combustion engine portfolio over the next three years once factoring in U.S. tax credits for cars and trucks, CEO Mary Barra said Thursday… Continue reading GM says supply chain issues won’t affect EV profitability by 2025
Fiat CEO teases subscriptions, car-sharing for all-electric 500e launch in US
Stellantis plans to “explore alternative business models,” such as subscriptions and car sharing, when it launches its all-electric Fiat 500e in the U.S. in the first quarter of 2024, Fiat CEO Olivier Francois told TechCrunch at the 2022 Los Angeles Auto Show. The exec did not rule out limiting the 500e’s U.S. launch entirely to… Continue reading Fiat CEO teases subscriptions, car-sharing for all-electric 500e launch in US
Hyundai’s hydrogen fuel cell concept hints at the performance N brand’s future
Hyundai revealed Thursday a hydrogen fuel cell hybrid concept vehicle called the N Vision 74 that the company says demonstrates the performance sub-brand’s vision for electrification. The Hyundai N sub-brand, the performance-focused arm of the automaker, has been applied to a range of production vehicles since its founding in 2015 from the Hyundai Veloster N… Continue reading Hyundai’s hydrogen fuel cell concept hints at the performance N brand’s future
BrightDrop is tracking $1 billion revenue in 2023
General Motors’ e-delivery van subsidiary BrightDrop said Thursday it’s on track to reach $1 billion in revenue next year. The company, which launched in 2021 and was incubated at the automaker’s global innovation center, said reaching the financial milestone would make it one of the quickest tech startups to reach unicorn status, ahead of Apple,… Continue reading BrightDrop is tracking $1 billion revenue in 2023
Fisker Ocean SUV commences production in Austria on schedule
American EV automaker Fisker Inc. has just hit a major company milestone years in the making. Contract manufacturer Magna Steyr has officially begun production of the Fisker Ocean SUV at its carbon neutral facility in Graz, Austria. With Magna’s help, this second iteration of the Fisker brand continues to prove the naysayers wrong while moving… Continue reading Fisker Ocean SUV commences production in Austria on schedule