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SHANGHAI (Reuters) - Lotus Technology, a new unit of China's Geely set up to develop the technology to power Lotus sports cars, is planning to raise $400 million to $500 million before the end of this year, its chief financial officer told Reuters.
Search giant Baidu Inc and Toyota Motor Corp-backed Pony.ai Inc were granted the first batch of licenses from Beijing regulators to start open-road autonomous commercial driving operations in a part of the city equivalent to the size of Manhattan.
China’s market regulator on Saturday (Nov 20) said it was fining companies including Alibaba, Baidu and JD.com for failing to declare 43 deals that date as far back as 2012 to authorities, saying that they violated anti-monopoly legislation.
KUALA LUMPUR: RAM Ratings is positive on Proton Holdings Bhd’s operating performance and anticipates the national car maker’s financial profile to improve though the debt level may rise depending on the pace of product launches.
T3 Chuxing, Ruqi Chuxing and Caocao Chuxing were among offending platforms that recruited or induced drivers to operate without licenses. The compliance rate of 12 out of the 16 biggest platforms improved in September compared with the previous month, according to transport ministry data.
WHILE the automotive industry has welcomed the proposed tax incentives for EVs (electric vehicles) under Budget 2022, the sector’s stakeholders and analysts do not expect EV sales to kick off in a big way just yet.
Lynk & Co, a mid-range car brand spawned out of Geely’s takeover of Volvo Cars, launched a mid-size SUV to take on bestselling electric vehicle models assembled by Tesla and Chinese start-up NIO.
Hong Kong stocks hit five-week high on Alibaba and tech rally, while banks advance on Wealth Connect push
Hong Kong stocks climbed to a five-week high, fuelled by gains in Alibaba Group Holding and tech peers while financial stocks advanced amid the launch of cross-border wealth management product operations.