Japan’s Nippon Telegraph and Telephone (NTT) plans to test driverless vehicle technology with Toyota Motor and invest in a U.S. startup developing self-driving systems, a spokesperson for the telecommunications firm said on Monday. NTT aims to start tests with autonomous buses and taxis as early as 2025 and invest about 10 billion yen ($66.91 million) in… Continue reading NTT to develop driverless vehicles with Toyota, invest $67m in US startupNTT will deliver autonomous buses and taxis by as early as 2025.
Category: Tech News
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India’s Nykaa posts slowest revenue growth since listing amid stiff competition
FSN E-Commerce Ventures, parent of cosmetics-to-fashion retailer Nykaa, on Monday, reported its slowest quarterly revenue growth since listing, hurt by stiff competition in its mainstay beauty and personal care (BPC) segment. Consolidated revenue from operations grew 22.4% to 15.07 billion rupees ($181.17 million) in July-September, its slowest year-on-year percentage growth since the company went public… Continue reading India’s Nykaa posts slowest revenue growth since listing amid stiff competition
China Digest: Bosch to invest nearly $38m in HCFA; Guoquan Food raises $52.6m in HK IPO
German auto parts supplier Bosch plans to invest nearly $38 million into HCFA, while Chinese home meal products brand Guoquan Food has raised $52.6 million in a Hong Kong IPO. Bosch, HCFA to set up $16.5m JV Bosch is eyeing a 5% stake in Shanghai-listed Zhejiang Hechuang Technology for 276 million yuan ($37.9 million), according… Continue reading China Digest: Bosch to invest nearly $38m in HCFA; Guoquan Food raises $52.6m in HK IPO
Kai Fu-Lee’s AI venture 01.AI enters unicorn club in just eight months
01.AI, a nascent artificial intelligence (AI) startup founded by venture capitalist Kai-Fu Lee, has reached a unicorn valuation of over $1 billion in less than eight months after its creation. The Beijing-based startup joined the unicorn club after a funding round that included Alibaba Group’s cloud division, Lee’s venture capital (VC) firm Sinovation Ventures, and… Continue reading Kai Fu-Lee’s AI venture 01.AI enters unicorn club in just eight months
Tesla plans to build its $25,000 electric car at Gigafactory Berlin
Tesla has reportedly confirmed that it plans to build its upcoming $25,000 electric car at Gigafactory Berlin. It’s a rare new model to be confirmed for the factory that currently only produces the Model Y. At Tesla’s 2023 Investor Day in March, the automaker unveiled a new car manufacturing system, which CEO Elon Musk claimed would be… Continue reading Tesla plans to build its $25,000 electric car at Gigafactory Berlin
Tesla to integrate Elon Musk’s new AI assistant in its vehicles
Tesla is going to integrate Elon Musk’s newly launched Grok AI assistant in its electric vehicles, according to the CEO. Earlier this year, Musk launched a new AI startup, xAI, and said that it will work closely with Tesla. The company’s mission is “to understand the true nature of the universe”, but in practice, its… Continue reading Tesla to integrate Elon Musk’s new AI assistant in its vehicles
SEA Digest: Vietnam’s FPT acquires US-based Cardinal Peak; Earth VC backs Kuva SpaceThe acquisition is a part of FPT’s strategic move to strengthen it…
Vietnam’s leading technology firm FPT Corporation has acquired US-based product engineering services firm Cardinal Peak, while Finland-based Kuva Space has raised $17.8 million in a funding round. FPT to double down on North America post-acquisition FPT Corporation has acquired US-based product engineering services firm Cardinal Peak, as it looks to strengthen its product engineering delivery capabilities in… Continue reading SEA Digest: Vietnam’s FPT acquires US-based Cardinal Peak; Earth VC backs Kuva SpaceThe acquisition is a part of FPT’s strategic move to strengthen it…
China’s Trina Solar lines up $420m expansion in VietnamChina and Hong Kong combined were the biggest foreign investors in Vietnam in the first 10 mont…
Chinese solar panel maker Trina Solar is planning to invest an additional $420 million in Vietnam’s northern province of Thai Nguyen, raising its total investment in the country to nearly $900 million, the provincial government said on Sunday. Reuters in September exclusively reported that Trina, one of the world’s biggest solar panel makers by sales, would invest… Continue reading China’s Trina Solar lines up $420m expansion in VietnamChina and Hong Kong combined were the biggest foreign investors in Vietnam in the first 10 mont…
PE firm Carlyle to sell Japanese cosmetics supplier Tokiwa in $1b deal
Carlyle Group is planning to sell Japanese cosmetics supplier Tokiwa Corp in a deal that could fetch $1 billion, two sources with knowledge of the matter said. The investment firm has tapped Jefferies and SMBC Nikko Securities as advisors to work on the sale of the 75-year-old company, which will kick off early next year,… Continue reading PE firm Carlyle to sell Japanese cosmetics supplier Tokiwa in $1b deal
Telecom Italia accepts PE firm KKR’s $20b grid bid in blow for Vivendi
Telecom Italia (TIM) on Sunday approved the 19 billion euro ($20 billion) sale of its fixed-line network to U.S. private equity firm KKR, becoming the first telecoms group in a major European country to part ways with its landline grid. The deal, backed by Prime Minister Giorgia Meloni’s conservative administration, involves an asset that Italy… Continue reading Telecom Italia accepts PE firm KKR’s $20b grid bid in blow for Vivendi