HONG KONG/SHANGHAI (Reuters) – Chinese electric vehicle start-up NIO on Monday filed for a $1.8 billion initial public offering of its American depositary shares, the biggest U.S. listing by a Chinese automaker. FILE PHOTO: Visitors check NIO ES8 displayed during a media preview of the Auto China 2018 motor show in Beijing, China April 25,… Continue reading CORRECTED-NIO seeks to raise $1.8 bln in biggest U.S. listing by China automaker
Tag: M and A
China’s Didi beefs up its newly-independent car services business with an acquisition
A week after spinning out its driver services business and giving it $1 billion in investment capital, Didi Chuxing has added to it through an acquisition. Xiaoju Automobile Solutions (XAS), which the Didi spinout is called, announced today it has bought Hiservice, a three-year-old company that provides after-service care for car owners using a digital platform.… Continue reading China’s Didi beefs up its newly-independent car services business with an acquisition
UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private
(Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk tweeted on Monday that he was working with buyout firm Silver Lake and investment bank Goldman Sachs Group Inc (GS.N) as financial advisers on his plan to take the U.S. electric car maker private. The announcement represents the latest effort by Musk to add credibility to… Continue reading UPDATE 10-Musk says Silver Lake, Goldman advising on taking Tesla private
Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
August 14, 2018 Vogo, a scooter and bike sharing start-up, has raised $6-7 million in a Series A funding round led by ANI Technologies Pvt. Ltd and Hero MotoCorp chairman Pawan Munjal, according to a person familiar with the matter. Existing investors Matrix Partners India, Stellaris Venture and angel investors also participated in the funding… Continue reading Scooter rental startup Vogo raises Series A funding from Ola, Hero MotoCorp
UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing
(Reuters) – Elon Musk on Monday explained what he meant by tweeting “funding secured” to take Tesla Inc private: he is confident a deal can be done but has not yet finalized a plan. What exactly Musk had intended by saying “secured” has emerged as a potential legal and regulatory minefield for the Silicon Valley… Continue reading UPDATE 7-Musk talking to Saudi fund, others as he seeks Tesla buyout financing
Elon Musk Says Meetings With Saudis Preceded Tweet on Taking Tesla Private
Elon Musk, Tesla’s chief executive, said on Monday that he had held meetings with representatives of a Saudi sovereign wealth fund who expressed an eagerness to help him take the electric-car maker private. Writing in a post on Tesla’s corporate blog, Mr. Musk offered his fullest explanation yet for what he said were the circumstances… Continue reading Elon Musk Says Meetings With Saudis Preceded Tweet on Taking Tesla Private
Elon Musk says Saudis back Tesla buyout
Elon Musk has outlined his plan to take Tesla private and said he discussed financing the deal with backing from Saudi Arabia. The founder of the electric car maker also indicated that he would need to raise about $23bn, not the $70bn that had been reported. In a blog post, Mr Musk said that he… Continue reading Elon Musk says Saudis back Tesla buyout
There are big doubts about how Musk will pull off the Tesla buyout, but Morgan Stanley may have found a way
Morgan Stanley is telling its clients there might a way to get funding for Elon Musk’s plan to take Tesla private.
Local Motors Announces Olli Shipment to University at Buffalo · Local Motors
Press and Releases The mobility company by LM Industries has partnered with the University at Buffalo on a transportation and sustainability initiative centered on its autonomous, electric, 3D-Printed shuttle. PHOENIX, August 9, 2018 — Today, Local Motors by LM Industries, known for 3D-Printed mobility solutions, announced the deployment and launch of operations of Olli at… Continue reading Local Motors Announces Olli Shipment to University at Buffalo · Local Motors
Self-Driving Truck Startup Kodiak Secures $40 Million in Series A
Even though Uber Technologies recently abandoned its self-driving truck program, a company started by individuals with ties to Otto, the self-driving technology company acquired by Uber, and Google’s self-driving car team, has received financial backing to continue the development of systems that will allow trucks to be retrofitted to drive autonomously. Kodiak Robotics, founded in… Continue reading Self-Driving Truck Startup Kodiak Secures $40 Million in Series A