Tag: Automobiles
Geely’s EV brand Zeekr raises $500mn from investors including Intel, CATL
Zeekr, new electric mobility technology and solutions brand by Geely, has raised $500 million in its first external funding from investors including American multinational...
Saudi PIF acquires minority stake in Italian supercar maker Pagani
Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF) has agreed to purchase a minority stake in Italian manufacturer of sports cars Pagani, the...
UAE-based startup MySyara acquires major auto parts distributor in region
UAE-based automotive startup MySyara has acquired a leading auto parts distributor in the Emirates in a deal valued at $2.6 million.
According to the company...
Electric vehicle maker Rivian raises $2.5bn in latest funding round
American electric vehicle startup Rivian has closed a $2.5 billion fundraising round led by investors Amazon, Ford Motor and T. Rowe Price.
The funding round...
Toyota to halt Japanese subsidiary plant production due to parts shortage
Toyota Motors, the Japanese leading automotive company, has announced that a subsidiary’s plant will be closed for a total of five days due to...
Volvo Cars to buy its parent firm Geely’s stake in China
Swedish premium automaker Volvo Cars has signed an agreement to buy out its parent company Geely Holding from their joint ventures in China in...
Tesla supercharger will be open to all EVs later this year;...
American electric vehicles (EV) and battery maker, Tesla is planning to open its global network of superchargers to other EVs later this year, chief...
McLaren looks to raise additional $620mn to recover from COVID-19
British Supercar makers, McLaren Finance aims to raise $620 million through a bond issue, extending its funding spree as it strives to recover losses...
