Electric Vehicles & Mobility
Temasek leads $140M India’s Ola Electric funding at $5.4B valuation – report
The investment round has been closed and Ola will be receiving the funds within a week's time, though there will be another round of fund raising before it files papers for an up to $1 billion IPO planned for late 2023, said the first source, according to the report.
Indonesia’s automotive aftermarket startup Otoklix reports 2x annual growth, targets to hit profitability in a year’s time
Otoklix is also gearing up to be a first-mover in Indonesia’s electric vehicle aftermarket, with a focus on outfitting and educating workshop teams to service electric motorbikes. The startup has also entered into a strategic partnership with Indonesia’s state-owned oil and natural gas corporation Pertamina to reestablish the Bright Olimart service chains…
ORZON Ventures invests in SLEEK EV, aims to revolutionize electric mobility in Southeast Asia
This strategic investment will fuel SLEEK EV's mission to accelerate the transition of 2-wheelers in Southeast Asia to electric.
UOB Malaysia launches financing solution for electric vehicle ecosystem
Banking group UOB Malaysia has announced the launch of U-Drive, a comprehensive financing solution for the electric vehicle (EV) ecosystem in the country. The solution seamlessly connects the EV value chain, including automotive component suppliers, automotive brand owners, dealers, and charging point operators to end-users.
Charging toward a more sustainable future with Scorpio Electric’s Joshua Goh [Q&A]
“At Scorpio Electric, our driving force is innovation and sustainability. We seamlessly blend cutting-edge technology with our unwavering commitment to a greener future, says Joshua Goh, CEO of Scorpio Electric. "We're not just building electric motorcycles; we're steering the course toward sustainable urban mobility, lighting the way for a cleaner,…
Singapore’s Beep raises seed round from GGV Capital and Wing Vasiksiri
Beep, a Singapore-based internet of things (IOT) transaction platform startup has successfully completed its seed round, with GGV Capital and Wing Vasiksiri as the lead investors. The round saw additional participation from NUS Technology Holdings (a fully owned subsidiary of NUS), SUTD Venture Holdings, XANetwork, and other prominent angel investors.
Vietnamese EV maker VinFast debuts on NASDAQ after completing SPAC merger
Vietnamese electric vehicle (EV) automaker VinFast Auto Ltd. (VinFast) has made a strong debut on Nasdaq on Tuesday. The stock opened at $22, more than double the $10 per share agreed with VinFast's special purpose acquisition company (SPAC) partner Black Spade Acquisition (Black Spade) that had valued VinFast at $23 billion. The stock ended at $37.06 on…
VinFast and Black Spade complete business combination
Vietnamese automaker VinFast Auto Ltd. (VinFast) and Black Spade Acquisition Co (Black Spade) have on Monday announced the completion of their previously announced business combination. The listed company shares and warrants will commence trading on the Nasdaq Stock Market LLC (Nasdaq) under the ticker symbols “VFS” and “VFSWW,” respectively, on August 15,…
Taiwan’s Gogoro posts lower net loss of $5.6M in second quarter
Taiwanese battery-swapping refueling platform Gogoro saw its net loss for the second quarter of 2023 fall to $5.6 million from $121.1 million a year ago. The group registered a revenue of $87.2 million in the second quarter, down 3.8 percent year-over-year but up 0.2 percent year-over-year on a constant currency basis.
Black Spade’s shareholders approve business combination with VinFast
Vietnamese automaker VinFast Auto Ltd. (VinFast) and Black Spade Acquisition Co (Black Spade) have on Thursday announced that their previously announced business combination was approved at an extraordinary general meeting (EGM) of Black Spade’s shareholders. The business combination is expected to close on August 14, 2023.
