NEOM, the smart and sustainable regional development in northwest Saudi Arabia, has injected $100 million into autonomous driving firm Pony.ai via its strategic investment arm NEOM Investment Fund (NIF). The capital injection comes after the firm clinched the first tranche of its Series D funding round in March 2022 at a valuation of $8.5 billion,… Continue reading Self-driving startup Pony.ai secures $100m from Saudi’s Neom
Tag: Didi
Tesla stock ends the week down 15%, the worst performance of the year
Elon Musk, chief executive officer of SpaceX and Tesla, and owner of X. formerly known as Twitter. Gonzalo Fuentes | Reuters Tesla shares dropped more than 15% over the last few days to close the week at $211.99 after CEO Elon Musk waxed pessimistic about macroeconomic issues on a third-quarter earnings call Wednesday. It marks… Continue reading Tesla stock ends the week down 15%, the worst performance of the year
GAC’s $75 million investment in Didi set to boost EV sales, autonomous driving: expert
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Chinese carmaker Guangzhou Automobile Group (GAC) is strengthening its alliance with ride-hailing platform Didi, investing up to $75 million into the latter’s autonomous driving unit. The move is expected to help GAC enhance… Continue reading GAC’s $75 million investment in Didi set to boost EV sales, autonomous driving: expert
Chinese state-affiliated investors inject $149m into DiDi’s self-driving tech arm
DiDi Autonomous Driving, the self-driving technology arm of DiDi Global, said it will bag up to $149 million from state-affiliated investors including GAC Capital, the wholly-owned subsidiary of automaker GAC Group; and Guangzhou Development District Investment Group. The self-driving arm said it will continue its investment in R&D as well as accelerate its product implementation… Continue reading Chinese state-affiliated investors inject $149m into DiDi’s self-driving tech arm
China’s Didi sets new target for ride-hailing as crackdown ends: report
Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. China’s Didi has recently set new growth targets in the three years to 2025, with new incentives for drivers and riders, in its latest move to recapture lost market share in the country’s… Continue reading China’s Didi sets new target for ride-hailing as crackdown ends: report
Ride Hailing Services Market to grow by USD 58.23 billion from 2022 to 2027 | Rising use of online ride-hailing services to drive the growth – Technavio
NEW YORK, Sept. 14, 2023 /PRNewswire/ — The ride hailing services market is expected to grow by USD 58.23 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 12.86% during the forecast period. The market is segmented by Application (Car sharing and E-hailing), mode of booking (online and offline), and… Continue reading Ride Hailing Services Market to grow by USD 58.23 billion from 2022 to 2027 | Rising use of online ride-hailing services to drive the growth – Technavio
Chinese car maintenance service startup Tuhu to raise $150m in Hong Kong IPOTuhu is backed by Tencent, Carlyle Group and Sequoia China.
Chinese car maintenance service startup Tuhu Car will start bookbuilding on Thursday for a Hong Kong initial public offering that could raise up to $150 million, two sources with direct knowledge of the matter said. The deal size is to be between $100 million and $150 million, the sources said, ahead of a final decision… Continue reading Chinese car maintenance service startup Tuhu to raise $150m in Hong Kong IPOTuhu is backed by Tencent, Carlyle Group and Sequoia China.
In 50 Words: Didi reduces Q2 losses 95% to $36.4m, aims for international expansion
Even with sluggish economic growth, its China business saw an increase in demand due to domestic travel. Go to Source
Li Auto reports record deliveries for August; Chinese EV brands on track to hit third-quarter guidance
Pictured here is a Nio pop-up store in Shanghai, China, on Aug. 4, 2023. Nurphoto | Nurphoto | Getty Images BEIJING — Chinese electric car companies Nio, Xpeng and Li Auto delivered enough vehicles in August to keep pace with their third quarter guidance. That’s according to announcements from the three companies, which are all… Continue reading Li Auto reports record deliveries for August; Chinese EV brands on track to hit third-quarter guidance
EV Roundup: RIVN’s New R1T’s Range Reveal, FSR Expansion Plans & More
China-based electric vehicle (EV) makers NIO Inc. NIO, XPeng XPEV and Li Auto LI released their delivery numbers for August 2023. While China’s economy is showing signs of weakness, the August delivery numbers for all three automakers marked a remarkable year-over-year surge. Fisker Inc. FSR made a splash with a number of updates. The company… Continue reading EV Roundup: RIVN’s New R1T’s Range Reveal, FSR Expansion Plans & More