Chinese electric-car maker Nio said that in 2024 it will start making high-voltage battery packs that it has developed itself, as part of a drive to improve profitability and competitiveness to take on rivals such as Tesla. Nio, plans to start producing an 800-volt battery pack in the second half of 2024, its chairman William Li told… Continue reading Chinese EV maker Nio to make self-developed battery packs from 2024 …
Category: Tech News
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Investors are both eager and uneasy as China signals end of crackdown on tech sector
As Chinese authorities signal that a two-year crackdown on the domestic technology sector is over, global investors are relieved and yet loath to take the government at its word. Foreign investors have been returning to mainland markets since May as its stringent COVID-19 lockdowns ease and after pledges from China’s highest policymakers, including Vice Premier… Continue reading Investors are both eager and uneasy as China signals end of crackdown on tech sector
Rising interest rates spell trouble for Buy Now Pay Later business model
Reduced consumer spending, rising interest rates and trickier credit conditions spell trouble for Buy Now Pay Later lenders, raising the prospect of consolidation in the sector. Buy Now Pay Later (BNPL) firms have created one of the fastest-growing segments in consumer finance, with transaction volumes hitting $120 billion in 2021 up from just $33 billion in 2019, according to… Continue reading Rising interest rates spell trouble for Buy Now Pay Later business model
GoTo aims to review spending, optimise expenses to extend runway
Indonesia-listed technology group PT GoTo Gojek Tokopedia (GoTo) is reviewing its spending as part of efforts to extend its runway, according to a top executive, as the group prepares to leave its cash-burning days behind. GoTo President Patrick Cao, in a public expose on Friday, said the technology group has a “very clear path to… Continue reading GoTo aims to review spending, optimise expenses to extend runway
Renault Group Acquires UK Based Fixter
Renault Group acquired Fixter, a London, UK-based startup specializing in the digitization of vehicle maintenance. The amount of the deal was not disclosed. This acquisition is part of a strategy to develop innovative digital tools for the Independent After Market (IAM) in Europe, for both retail and professional customers. Fixter’s development will continue in the… Continue reading Renault Group Acquires UK Based Fixter
Tesla secures multibillion-dollar deal with Samsung for new cameras for self-driving
Tesla has reportedly secured a multibillion-dollar deal with Samsung to get new cameras for its self-driving sensor suite. Tesla’s Full Self-Driving (FSD) program relies on cameras to get imagery to feed its neural nets. Unlike most other self-driving programs, the automaker doesn’t use radar and lidar. However, we recently reported on Tesla’s filing with the… Continue reading Tesla secures multibillion-dollar deal with Samsung for new cameras for self-driving
China’s GF Xinde Investment sets up RMB fund to invest $450m in new energy sector …
GF Xinde Investment, the wholly-owned private equity (PE) investment unit of Chinese investment bank GF Securities, has set up a new RMB-denominated fund to invest 3 billion yuan (almost $450 million) in the new energy industry. The new fund, which recently completed its registration with the Asset Management Association of China (AMAC), counts the country’s… Continue reading China’s GF Xinde Investment sets up RMB fund to invest $450m in new energy sector …
DCP said to have held first close of second China fund at $2.5b
DCP Capital, a private equity (PE) firm that has backed some of China’s biggest companies, including Ping An Insurance and Mengniu Dairy, has reportedly held the first closing of its second China fund at $2.5 billion. With a total fundraising target of $3 billion, DCP Capital Partners II reached the first closing with capital commitments… Continue reading DCP said to have held first close of second China fund at $2.5b
Brompton recalls folding e-bikes over risk of front wheel lockup
If you own a Brompton folding electric bicycle sold between May 2019 and March 2022 you should stop riding it immediately. According to the Consumer Product Safety Commission (CPSC) agency in the US, ten owners of Brompton e-bikes have reported objects getting trapped between the mudguard and front tire causing the wheel to lockup and… Continue reading Brompton recalls folding e-bikes over risk of front wheel lockup
Coinbase may invest in Thailand’s Zipmex after takeover talks fall through …
Coinbase Global Inc has reportedly signed an agreement to invest in Thai crypto trading platform Zipmex, after takeover talks did not come through, per a report on The Block. The report cited sources saying the US-based crypto exchange had intended to acquire Zipmex, but finally ended up with a strategic investment, for which a term… Continue reading Coinbase may invest in Thailand’s Zipmex after takeover talks fall through …