FILE PHOTO – A Gojek driver rides his motorcycle through a business district street in Jakarta, June 9, 2015. REUTERS/Beawiharta JAKARTA (Reuters) – Indonesian ride-hailing firm Go-Jek has raised around $1 billion in a funding round, led by Alphabet Inc’s Google, JD.com Inc and Tencent Holdings, sources familiar with the matter said on Friday. Google,… Continue reading Go-Jek raises $1 billion in round led by Google, Tencent, JD
Tag: Renault
Go-Jek makes first close of Series F round at $9.5B valuation
Go-Jek, the Indonesia-based ride-hailing company that is challenging Grab in Southeast Asia, has announced the first close of its Series F round, as TechCrunch reported last week. The company isn’t revealing numbers. Sources told us last week that it has closed around $920 million, but we understand that today that the round is at over $1… Continue reading Go-Jek makes first close of Series F round at $9.5B valuation
Indonesian ride-hailing firm Go-Jek hits big number with latest fundraising effort
afif c. kusuma | iStock Editorial | Getty Images
Bike passengers wearing Helmet with Gojek logo.
Indonesian ride-hailing company Go-Jek said Friday it had finalized the first closing of its ongoing Series F fundraising efforts.
Go-Jek's release did not disclose the amount of fresh funds raised.
An industry source familiar with the matter told CNBC that Go-Jek raised just more than $1 billion with the first close of the Series F funding round.
Investors included tech giants Google and Tencent as well as Chinese e-commerce player JD.com and Japan's Mitsubishi Corporation.
The company said the proceeds would be used to expand and deepen Go-Jek's presence in its home market, Indonesia, as well as Singapore, Vietnam and Thailand.
“We started out with ride-hailing but in a short space of time have become Indonesia's industry leader across all key verticals including transport, food delivery, mobile payments, logistics, and merchant services,” Nadiem Makarim, CEO of Go-Jek Group, said in a statement.
“As we expand internationally, we are excited to extend our vision to more countries and at the same time put Indonesia on the map as a regional hub for tech innovation,” he said.
Go-Jek has a presence in 204 cities and regencies across five countries in Southeast Asia. It has more than 2 million drivers and about 400,000 merchants on its platform.
Last month, the company made its beta service available to all users in Singapore.
Go-Jek's regional expansion puts it in direct competition with Grab, which announced a partnership with video streaming service Hooq earlier this week.
Grab has also raised funds north of $3 billion since last year as investors jump on board the potentially lucrative digital market in Southeast Asia.
The region's internet economy is set to exceed $240 billion by 2025, according to a report from Google and Singapore's Temasek Holdings.
Go-Jek said that after the close of the Series F fundraising, its founders would still maintain control over the decision-making process and direction of the company.
Carlos Ghosn says fellow executives plotted to oust him
Carlos Ghosn Nissan’s former chairman claims ‘plot and treason’ in first interview since his arrest Carlos Ghosn during an interview before his arrest. Photograph: Kin Cheung/AP Nissan’s former chairman Carlos Ghosn has accused fellow executives of a plot to oust him and prevent closer ties with the carmaker’s French partner, Renault, in his first interview… Continue reading Carlos Ghosn says fellow executives plotted to oust him
EXCLUSIVE Carlos Ghosn: “I am alone in front of an army that throws me horrors in the face”
After ten weeks in detention, how are you? I am concentrated. I want to fight to restore my reputation and defend myself against false accusations. I am denied bail . It would not happen in any other democracy in the world. In front of me, there is an army. At Nissan, there are several hundred… Continue reading EXCLUSIVE Carlos Ghosn: “I am alone in front of an army that throws me horrors in the face”
Exclusive interview: Ghosn ‘plot and treason’ led to arrest – Nikkei Asian Review
TOKYO — Former Nissan Motor Chairman Carlos Ghosn told Nikkei in an exclusive interview Wednesday that he had “no doubt” that the charges against him were the result of “plot and treason” by Nissan executives opposed to his plan for deeper integration between Renault and its two Japanese alliance partners. Speaking on the 10th floor… Continue reading Exclusive interview: Ghosn ‘plot and treason’ led to arrest – Nikkei Asian Review
Britain’s luxury automakers prepare for worst as Brexit looms – Automotive News Europe
Britain would suffer most if it lost free trade with European markets since 80 percent of vehicles assembled in the country are exported, mostly to the European Union. But for Germany the stakes are also high. In 2016, Britain was the largest single export market for German manufacturers, who sold 800,000 new cars there, or… Continue reading Britain’s luxury automakers prepare for worst as Brexit looms – Automotive News Europe
Koenigsegg to accelerate growth in the hyper car market with EUR 150 million funding from NEVS (National Electric Vehicle Sweden)
Koenigsegg to accelerate growth in the hyper car market with EUR 150 million funding from NEVS
TROLLHÄTTAN, Sweden, 30-Jan-2019 — /EuropaWire/ — NEVS (National Electric Vehicle Sweden) has just announced it purchased 20 percent minority stake in Koenigsegg’s parent company for EUR 150 million.
The high-performance sports cars maker Koenigsegg will use the new capital to accelerate growth in the hyper car market, as well as to break ground into an untapped market segment together with NEVS. The two companies are planning to develop parallel vehicle models in slightly higher volumes with emphasis on electrification.
In addition to this partnership, the companies are establishing a joint venture to expand into new market segments where NEVS AB is contributing USD 150 million in the form of starting capital for a 65 percent stake while Koenigsegg will control 35 percent by contributing primarily with intellectual property, technology licenses, and product design.
The new partnership steps on already existing collaboration between NEVS and Koenigsegg, creating synergies between their geographical footprints, experiences and competencies.
Koenigsegg will access additional capabilities as well as benefit from the extensive automotive knowledge in Trollhättan, where the production facilities of NEVS are located while maintaining their centre of excellence in Ängelholm. NEVS has also production capacity in China and through its majority owner Evergrande has also access to wide distribution channels through ownership in one of China’s largest car retailers.
Additional synergies may be created in the automobile battery segment due to the deal NEVS’ majority owner Evergrande announced last week where it acquired 58.07 percent in automobile battery maker Shanghai CENAT New Energy Co Ltd. The deal is valued at $156 million.
At the moment the deal was announced NEVS has about 650 employees while Koenigsegg Automotive AB relies on 115 people.
Kai Johan Jiang, Chairman of the Board of Directors at NEVS AB:
“Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. To be able to expand our investment in the Swedish automotive industry through a company that we know and have an established relationship with, is an important step for us. We have both competencies and facilities to support Koenigsegg on their journey forward, something we look very much forward to”.
Christian von Koenigsegg, Founder and CEO of Koenigsegg:
“Koenigsegg is breaking new ground, capitalising on our unique technology, performance track record and market position to explore and develop new products. This partnership will create the best conditions for Koenigsegg to accelerate growth in the hyper car market, as well as enabling us to break ground into an untapped market segment together with NEVS. We very much look forward to working together with NEVS to develop products that ensure a sustainable future”.
Koenigsegg Automotive AB is based in Ängelholm, southern Sweden since 2003. The building had previously been home to the Swedish Air Force and once housed JAS 39 Gripen fighter jets.
NEVS has growing operations in China where the company’s first plant in Tianjin was finalized in 2018 and during 2019 serial production of NEVS 9-3 EV is planned to begin. In the meantime, new plant in Shanghai is under construction, scheduled for production of EV cars during 2020.
SOURCE: Koenigsegg / NEVS
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Koenigsegg logo
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Carlos Ghosn claims ‘plot and treason’ led to arrest
Kyodo | Reuters
A court sketch, drawn by Nobutoshi Katsuyama, shows ousted Nissan Motor Chairman Carlos Ghosn during a January open hearing to hear the reason for his continued detention, at Tokyo District Court in Tokyo, Japan.
Speaking from his Tokyo prison, the former Chairman of Renault-Nissan Carlos Ghosn told Japanese media that “plot and treason” by Nissan management led to his arrest.
In his first interview since being jailed, Ghosn told the Nikkei Asian Review on Wednesday that his plan to further integrate the automakers Nissan, Renault and Mitsubishi had triggered his downfall.
Ghosn said closer integration had been discussed with Nissan President Hiroto Saikawa in September but Saikawa had excluded Mitsubishi's CEO from the talks.
The tycoon reportedly said he had “no doubt” the legal charges against him were a result of “plot and treason” by Nissan management who opposed the strategy.
According to Ghosn, people who wanted to remove him from his role had also created a false image that his reign was a dictatorship.
“People translated strong leadership to dictator, to distort reality,” Ghosn said.
Nissan confirms SEC inquiry into company payment practices
7:29 AM ET Mon, 28 Jan 2019 | 00:38
Ghosn, along with former Nissan Director Greg Kelly, have now spent more than 70 days in jail.
Japanese prosecutors claimed the pair failed to declare around $43 million in deferred compensation between the years of 2010 and 2015. Ghosn is also accused of transferring personal trading losses to the company books.
Nissan has also separately accused Ghosn of receiving improper payments as well as using a third-party to purchase luxury properties in Rio de Janeiro and Beirut. The Brazilian-born businessman denies all the charges.
When asked about his health, the 64-year-old said he was “doing fine” and that life in the detention center was “up and down.”
On suggestions that he is being kept in prison as he is considered a flight risk, Ghosn responded: “I won't flee, I will defend (myself).”
French auto firm Renault holds a 43 percent stake in Nissan, while Nissan holds 15 percent of Renaults stock and a 34 percent stake in Mitsubushi Motors.
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Avinew Raises $5M in Seed Funding
Dan Peate Avinew, a Westlake Village, Calif.-based insurtech company focused on autonomous and semi-autonomous auto insurance, raised $5M in seed funding. The round was led by Crosscut, with participation from American Family Ventures, Draper Frontier, and RPM Ventures. Led by Dan Peate, Founder and CEO, Jeremy Snyder, COO, Mike Cassanego, General Counsel and Co-founder, and… Continue reading Avinew Raises $5M in Seed Funding