Tag: M and A

Tesla has signed an agreement to build a factory in Shanghai

The pop in Tesla’s share price is striking, he said, because the already cash-strapped Tesla just essentially made another financial commitment. “Even though a Gigafactory in China has been anticipated, now they have an agreement to finance the building of it,” he said. “That will put pressure on an already stressed balance sheet.” Even prior… Continue reading Tesla has signed an agreement to build a factory in
Shanghai

UPDATE 3-Tesla goes big in China with Shanghai plant

SHANGHAI (Reuters) – Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker’s global manufacturing. Elon Musk and Shanghai Mayor Ying Yong shake hands.… Continue reading UPDATE 3-Tesla goes big in China with Shanghai plant

UPDATE 1-Tesla to open plant in Shanghai with annual capacity of 500,000 cars -local media

SHANGHAI (Reuters) – Tesla Inc on Tuesday signed agreements with Shanghai authorities that will allow it to open a plant in the Chinese city with an annual capacity of 500,000 cars, local media reported. FILE PHOTO: A woman sits in a Tesla Model 3 car during a media preview at the Auto China 2018 motor… Continue reading UPDATE 1-Tesla to open plant in Shanghai with annual capacity of 500,000 cars -local media

E-scooter start-up Lime raises £232m from Uber and Alphabet

Uber and Alphabet are investing in start-up Lime as competition in the bike and scooter hiring industry hots up.  Lime raised $335m (£232m) in a round of funding led by GV, formerly Google Ventures. Other new investors include Google’s parent Alphabet, IVP, Atomico and Fidelity, the company said in a blog post. “In addition, Uber is… Continue reading E-scooter start-up Lime raises £232m from Uber and Alphabet

Honda to Supply F1 Power Units to Red Bull Racing

Honda and Red Bull Group have signed an agreement whereby Honda will enter into a partnership with Red Bull Racing to supply it with power units for two years from the start of the 2019 FIA Formula One* World Championship. This will be in addition to its current agreement with Red Bull Scuderia Toro Rosso.… Continue reading Honda to Supply F1 Power Units to Red Bull Racing

After Uber buyout, Grab aims to go beyond rides to become Southeast Asia’s one-stop app

Grab is shrugging off the threat that Singapore might undo its acquisition of Uber’s Southeast Asia business after the ride-hailing firm announced a new strategy to become Southeast Asia’s one-stop “super app.” The Competition and Consumer Commission Singapore (CCCS) last week said it may levy a fine or unwind the Uber-Grab deal but today Singapore-based Grab announced a… Continue reading After Uber buyout, Grab aims to go beyond rides to become Southeast Asia’s one-stop app

Uber and Lyft may be vying to acquire bus startup

This story was delivered to Business Insider Intelligence Transportation & Logistics Briefing subscribers hours before it appeared on Business Insider. To be the first to know, please click here. Uber and Lyft are reportedly interested in acquiring Skedaddle, the crowdsourced bus startup, according to TechCrunch. Skedaddle, which was founded in 2015, enables individuals to charter… Continue reading Uber and Lyft may be vying to acquire bus startup

Spain’s Cabify ‘categorically denies’ that it is in negotiations for a full or partial sale to Lyft

Transportation-on-demand service Lyft, now valued at over $15 billion after raising another $600 million in June, is on the hunt to scale its business. One move it might not be making soon, however, is to expand operations into Spain and Latin America by way of an acquisition of one of the leading players in the… Continue reading Spain’s Cabify ‘categorically denies’ that it is in negotiations for a full or partial sale to Lyft

Singapore regulator challenges Uber-Grab merger

Singapore regulator challenges Uber-Grab merger  Financial Times Uber and Grab clash with Singapore watchdog as it threatens fines and a break-up of their merger  CNBC Uber’s Big Plan to Sell Its Southeast Asia Division May Have Just Fallen Apart  Fortune Singapore proposes fines on Grab, Uber, says merger harms competition  Reuters Grab-Uber merger has reduced competition and increased prices,… Continue reading Singapore regulator challenges Uber-Grab merger