Venture capital firm Matrix Partners China has closed its new fund at $1.6 billion in what was the largest China-focused venture fund raised this year, data from research firm Preqin showed. Matrix Partners China VII, the new fund focusing on information technology industries, was closed on July 31, the data showed. The venture firm has not announced in… Continue reading Matrix Partners China closes year’s largest China-focused fund at $1.6b
Tag: Didi
The Acceleration Of The EV Revolution Comes With Business Expansion
Although Tesla Inc (NASDAQ: TSLA) helped create the EV industry, both in the U.S. and China, it is now facing intense competition on both fronts. Fighting for market share, Tesla started a price war at the beginning of the year. Although price wars tend to eliminate weaker players from the race, Tesla rivals responded on… Continue reading The Acceleration Of The EV Revolution Comes With Business Expansion
The Acceleration Of The EV Revolution Comes With Business Expansion
Although Tesla Inc (NASDAQ: TSLA) helped create the EV industry, both in the U.S. and China, it is now facing intense competition on both fronts. Fighting for market share, Tesla started a price war at the beginning of the year. Although price wars tend to eliminate weaker players from the race, Tesla rivals responded on… Continue reading The Acceleration Of The EV Revolution Comes With Business Expansion
Quhuo Reported the Unaudited Financial Results for the First Half of 2023 with Promising Results in the Second Growth Engine
Net loss and adjusted net loss decreased by 78.6% and 87.0% year-over-year respectively. Quhuo International has signed service contracts for 1,720 units of vehicles under its vehicle export solutions, of which 200 units have been shipped. BEIJING, Aug. 31, 2023 /PRNewswire/ — Quhuo Limited (NASDAQ: QH) (“Quhuo” or the “Company”), a leading gig economy platform… Continue reading Quhuo Reported the Unaudited Financial Results for the First Half of 2023 with Promising Results in the Second Growth Engine
BYD Powers Through China’s Auto Price War to Post Soaring Profit
(Bloomberg) — China’s top-selling auto brand withstood the price war raging in the country this year, with BYD Co. posting second-quarter profit that surged 145% and sending its shares climbing. Most Read from Bloomberg Net income more than doubled to 6.8 billion yuan ($930 million) after the company sold a record number of plug-in hybrid… Continue reading BYD Powers Through China’s Auto Price War to Post Soaring Profit
Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
Didi launched a free robotaxi service in parts of Shanghai in 2020. Vcg | Visual China Group | Getty Images BEIJING — Chinese electric car company Xpeng said Monday it is buying Didi’s smart electric car development business in an exchange of shares worth $744 million. The Chinese ride-hailing company will become a strategic shareholder… Continue reading Chinese EV startup Xpeng shares soar 13% after announcing $744 million deal with Didi
German Manager Magazin: BYD with billion dollar deal, Xpeng also buys 002689
Chinese electric car manufacturers want to find a way out of the price war with takeovers and alliances. The Chinese industry leader BYD expands its main business with electronic components with a billion dollar acquisition. BYD is acquiring smartphone manufacturing facilities from Jabil Circuit for around $2.2 billion, the company announced on Monday. BYD Electronic… Continue reading German Manager Magazin: BYD with billion dollar deal, Xpeng also buys 002689
China’s Xpeng to acquire Didi’s smart EV unit in deal worth up to $744m
HONG KONG (Reuters) — Chinese electric car company Xpeng said it will acquire ride-hailing giant Didi’s smart electric vehicle (EV) unit in a deal worth as much as $744 million and the two companies will form a strategic partnership. Xpeng’s shares surged around 13% in Monday trade. Go to Source
Xpeng to buy Didi’s smart car business for $774 million
Chinese EV company Xpeng (XPEV) announced that it will be buying Didi’s smart car unit in a deal worth up to $774 million. Yahoo Finance Reporter Pras Subramanian explains the advantages of the deal, saying that “Xpeng is getting Didi’s expertise with ride-hailing and autonomous technology.” Subramanian notes the competitiveness within the Chinese EV space… Continue reading Xpeng to buy Didi’s smart car business for $774 million
Didi/Xpeng: EV deal will help both companies speed up profit goals
What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well… Continue reading Didi/Xpeng: EV deal will help both companies speed up profit goals