Elon Musk at Tesla’s annual meeting in Austin, Texas on June 13, 2024 Video screenshot/Tesla Tesla shareholders on Thursday voted to ratify CEO Elon Musk’s mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board. At Tesla’s annual… Continue reading Tesla shareholders vote to reinstate Elon Musk’s $56 billion pay package
Tag: Didi
Watch live: Tesla annual meeting begins, shareholders vote on Musk’s $56 billion pay package
Tesla’s annual meeting, starting at 4:30 p.m. ET on Thursday, will feature a final vote on a contentious proposal asking shareholders to “ratify the 100% performance-based stock option award to Elon Musk” granted in 2018. Even if investors back the measure, the courts will have the last say. The proposal, one of a dozen for… Continue reading Watch live: Tesla annual meeting begins, shareholders vote on Musk’s $56 billion pay package
China’s Didi Global sinks into Q1 loss after two profitable quarters
China’s largest ride-hailing company Didi Global fell to a first–quarter net loss after two consecutive quarters of profit, the company said on Wednesday. Didi reported a net loss attributable to shareholders of 1.4 billion yuan ($193.13 million) for the three months to end-March, largely attributing that to a fall in investment income from its stake in Chinese electric vehicle maker Xpeng. It sold its electric car development business to Xpeng in August… Continue reading China’s Didi Global sinks into Q1 loss after two profitable quarters
OSRTC’s LAccMI project empowers over 2,000 Odisha women, fosters financial freedom
OSRTC’s LAccMI Project Empowers 2,000+ Odisha Women, Fosters Economic Independence. New Delhi: Geetanjali Jena and her family of five were struggling to meet and manage household expenses and educate the three children. She did odd jobs like tailoring and tutoring poor children but could not make both ends meet. It was then that she learnt… Continue reading OSRTC’s LAccMI project empowers over 2,000 Odisha women, fosters financial freedom
Didi co-founder resigns as president, board director
Jean Liu will now transition to a new position as “permanent partner,” where she will retain her current responsibilities, Reuters reported. Go to Source
Didi co-founder Liu steps down after decade as president & board director
Didi Global Inc’s co–founder Jean Liu has stepped down from her roles as president and board director of China’s biggest ride–hailing firm to take on a new role, according to an internal company memo. Didi, which is seen as China’s answer to Uber but has faced prolonged regulatory scrutiny, will no longer have a position of president, it said in the memo seen by Reuters.… Continue reading Didi co-founder Liu steps down after decade as president & board director
Chinese art marketplace Tyfon to go public via $434m SPAC dealEarlier this month, Chinese electric vehicle maker Zeekr’s shares also debuted on the NY…
Chinese art marketplace Tyfon Culture has agreed to list its shares on the Nasdaq through a merger with a special purpose acquisition company that values the combined entity at $434 million, the firms said on Wednesday. The company is among a number of Chinese firms looking to list in the United States as the market for new… Continue reading Chinese art marketplace Tyfon to go public via $434m SPAC dealEarlier this month, Chinese electric vehicle maker Zeekr’s shares also debuted on the NY…
Chinese EV maker Aiways to go public in US via SPAC mergerAiways is among a group of struggling Chinese EV startups that have suspended operations ami…
Chinese electric vehicle maker Aiways will go public via a merger with U.S. special purpose acquisition company Hudson Acquistion Corp in a deal that should value the company around $400 million, the two companies said. The deal is a lifeline for Aiways, which halted production at its Shangrao plant last summer as a fierce EV… Continue reading Chinese EV maker Aiways to go public in US via SPAC mergerAiways is among a group of struggling Chinese EV startups that have suspended operations ami…
NEV makers move fast in China leveraging innovation, cooperation
Employees work on the assembly line of a new energy vehicle manufacturer in Chongqing. TANG YI/XINHUA HEFEI — Fierce competition has driven up technological innovation and industrial upgrading in China’s new energy vehicle (NEV) sector, with auto brands revving up investment and seeking cooperation. “I’m dazzled by the new configurations of NEVs, with large touch… Continue reading NEV makers move fast in China leveraging innovation, cooperation
Chinese EV Maker Zeekr Heads for US Listing at Reduced Valuation
(Bloomberg) — When Chinese electric-vehicle maker Zeekr lists in the US on Friday, it will be at a valuation of around $5.2 billion, less than half the $13 billion valuation announced following a funding round early last year. Most Read from Bloomberg The precipitous change in fortunes has surprised even the company’s top management. In… Continue reading Chinese EV Maker Zeekr Heads for US Listing at Reduced Valuation