Transportation
Israeli battery maker StoreDot raises $80M Series D funding led by Vietnam EV manufacturer VinFast
StoreDot has announced the first close of its Series D funding round of up to $80 million led by flagship Vietnamese electric vehicle (EV) manufacturer VinFast. Other investors included StoreDot bp ventures, and Golden Energy Global Investment Ltd., a wholly owned company by EVE Energy’s Founder Liu Jincheng. The funds raised by this round will be used to…
Vinfast delivers first batch of EV to customers in Vietnam
Vietnam automaker unit VinFast has released and distributed to customers its first batch of VF e34 electric vehicles (EV) at VinFast manufacturing complex in Hai Phong, Vietnam, making the country one of the world’s few countries to have mastered the technology behind clean-energy vehicle production.
Singaporean fintech GEKO acquires EV bike-maker SWAG, plans pre-Series A round in early 2022
Following the acquisition, the combined SWAG and GEKO group plan to hold a pre-Series A funding round, with a combined entity value of $25 million in early 2022.
Indonesia’s GoTo said to appoint banks for $1B local IPO – report
GoTo Group has picked PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for a local IPO that could happen as soon as next quarter, Bloomberg reported.
Indonesian O2O automotive startup Otoklix raises $10M Series A funding co-led by Alpha JWC Ventures and AC Ventures
Otoklix has raised $10 million from Alpha JWC Ventures and AC Ventures. Sequoia Capital India’s Surge, and angel investors including Indonesia’s largest automotive conglomerate Astra International Ex-Chief Executive Officer Prijono Sugiarto, YouTube Co-founder Steve Chen and Google Executives in XA Network, also joined the round. With this fresh funding, it…
Zoomcar launches operations in the Philippines, plans to invest $25 million over next 12 months
Zoomcar announced its launch of operations in the Philippines. The company plans to invest $25 million across the Philippines in the next 12 months to fuel its expansion in the country. In its recent push into the Southeast Asia region, the company appointed Gene Angelo Ferrer as its country head in the Philippines to help scale their business. The company…
Vietnam’s Vingroup starts construction on $173.7M EV battery manufacturing factory
Vingroup has started the construction of the $173.7 million electric vehicle (EV) battery manufacturing factory in Vietnam. The VinES Battery Manufacturing Factory which is located in the Vung Ang Economic Zone (Ha Tinh), is being developed on 8 hectares in its initial phase. The establishment of this factory represents an important milestone in its EV…
Vingroup seeks to list car unit in US in 2H2022 to raise at least $3B – report
Vingroup had set up a Singapore-based holding company owning a stake in Vinfast's operations in Vietnam to fuel the IPO process.
India’s Zoomcar to start operations in Vietnam
Zoomcar, which dominates the self-drive car rental market in India, has expanded to Southeast Asia. This broader geographic expansion is in line with Zoomcar’s ultimate mission to democratize car access across the world’s largest, most populated, and fastest-growing emerging markets.
Grab to debut on NASDAQ after investors approve SPAC merger
Altimeter Growth Corp announced that its shareholders approved the business combination with Grab at an extraordinary meeting of shareholders on Tuesday.
