Tag: Didi

Didi cancels its trip in South Africa

Didi Chixung, the Chinese ride-hailing giant, has today shut down its operations in South Africa (SA), a year after it launched in the country, marking its entry into the continent. A Didi official in SA confirmed the closure to TechCrunch but did not divulge the reasons for pulling the plug. “We have made the difficult… Continue reading Didi cancels its trip in South Africa

Drive I/O | Chinese EV makers face price hikes as nickel prices soar, Didi to enter EV market

Nickel prices climbed to an all-time high and could further increase the cost of electric vehicles (EV) and force automakers to cut earnings forecasts. Ride-hailing giant Didi became the latest Chinese tech company to enter consumer EV space; it plans to deliver an entry-level sedan next year. Shares of Nio closed flat in the company’s… Continue reading Drive I/O | Chinese EV makers face price hikes as nickel prices soar, Didi to enter EV market

Volkswagen in talks to buy Huawei’s autonomous driving unit: report

The autonomous driving space might be seeing the marriage of two titans. Volkswagen is in talks with Huawei to acquire the latter’s nascent autonomous driving unit for billions of euros, Germany’s Manager Magazin reported on Thursday. Huawei said it has no immediate comment when contacted by TechCrunch. VW China said it has no comment. The… Continue reading Volkswagen in talks to buy Huawei’s autonomous driving unit: report

Uber posts quarterly profit on strong delivery, recovering ride demand

Uber Technologies Inc on Wednesday reported its second quarterly operating profit as demand for its ride-hailing service approached pre-pandemic levels and its food delivery business turned profitable for the first time. The company’s first-quarter outlook fell short of Wall Street expectations as the Omicron coronavirus variant dampens travel, but Uber Chief Executive Dara Khosrowshahi said business had started… Continue reading Uber posts quarterly profit on strong delivery, recovering ride demand

Uber wrapped 2021 with strong revenue growth and greater adjusted profitability

Today after the bell, Uber reported its fourth-quarter financial performance. The company saw $25.9 billion in gross platform spend, up 51% compared to its year-ago result, and revenues of $5.78 billion, up 83% compare to Q4 2020. The company also reported GAAP net income of $0.44 per share, though that number did include non-operating items… Continue reading Uber wrapped 2021 with strong revenue growth and greater adjusted profitability

@Renault-Nissan-Mitsubishi: Alliance Ventures closely monitors the Mobility innovation ecosystem – New Mobility

ALLIANCE VENTURE’S 5 INNOVATION TERRITORIESAlliance Ventures focuses its strategic investments over 5 Innovation Territories which have been closely tracked since 2018:• New Mobility• Autonomous Driving• Electric Vehicle, Cleantech & Energy• Connected Services• Enterprise 2.0 OUR INSIGHTS ON THE NEW MOBILITY INNOVATION ECOSYSTEMWe would like to share our vision and analysis of each Innovation Territory, starting… Continue reading @Renault-Nissan-Mitsubishi: Alliance Ventures closely monitors the Mobility innovation ecosystem – New Mobility

Bolt raises $709M at an $8.4B valuation to expand its transportation and food delivery super app

Economies of scale are an essential cornerstone for on-demand companies, and to that end one of the hopefuls in the space has raised a big round to grow its business. Bolt — the startup and app of the same name that operates on-demand ride hailing, shared cars and scooters; and restaurant and grocery delivery —… Continue reading Bolt raises $709M at an $8.4B valuation to expand its transportation and food delivery super app