Tag: Didi

Shares of China’s Geely fall as Zeekr reveals wider H1 2023 loss

China’s Zeekr Intelligent revealed wider losses for the first half of the year on Thursday, as the electric car brand made its paperwork public for a stock market listing in New York and said it hoped to use funds raised to expand its product line. Zeekr, owned by Chinese automaker Geely Auto, had confidentially filed for its… Continue reading Shares of China’s Geely fall as Zeekr reveals wider H1 2023 loss

Chinese EV maker Geely’s Zeekr edges closer to US IPO, to make filing public this weekZeekr confidentially filed for a US initial public offering last…

Zeekr, Chinese automaker Geely’s premium electric car brand, will this week publicly release some details of its plans to list shares in New York, according to two sources with direct knowledge of the matter, seeking to ride growing enthusiasm for EVs despite strained U.S.-China ties. The EV brand will publish its prospectus and its shares could start… Continue reading Chinese EV maker Geely’s Zeekr edges closer to US IPO, to make filing public this weekZeekr confidentially filed for a US initial public offering last…

Weibo Reports Third Quarter 2023 Unaudited Financial Results

BEIJING, Nov. 9, 2023 /PRNewswire/ — Weibo Corporation (“Weibo” or the “Company”) (NASDAQ: WB and HKEX: 9898), a leading social media in China, today announced its unaudited financial results for the third quarter ended September 30, 2023. “We further improved our platform’s traffic structure and enhanced our operating efficiency this quarter,” said Gaofei Wang, CEO of Weibo. “On… Continue reading Weibo Reports Third Quarter 2023 Unaudited Financial Results

China’s truck industry is buying more driver-assist technology

People attend a launch ceremony of Inceptio’s autonomous driving system on March 10, 2021 in Shanghai, China. Huanqiu.com | Visual China Group | Getty Images BEIJING — China’s truck industry is finding more reasons to buy vehicles with assisted-driving technology. It’s a critical step toward monetization in a nascent business that’s drawn many investor dollars,… Continue reading China’s truck industry is buying more driver-assist technology

Self-driving startup Pony.ai secures $100m from Saudi’s Neom

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

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