Following a merger with Switchback Energy Acquisition Corp, one of the oldest and largest electric vehicle charging networks of the world – ChargePoint Inc, will float an initial public offering, the company said on Thursday. The merger values the charging company at $2.4 billion. The company expects that the merger deal will be closed by…
In a statement Intel’s spokesman said, it has received licenses from U.S. authorities to continue supplying certain products to Huawei Technologies. The development comes at a time when U.S.-China relations have come under pressure with many intelligence agencies across the Western world saying China’s Huawei is a national security threat, especially after Beijing passed its…
In a statement Shopify Inc disclosed, consumer data has been exposed following two of its employees trying to steal transaction data. Data of customers who shopped at fewer than 200 merchants listed on its e-commerce platform was most likely exposed after the attempted cyber theft. The data exposed includes names, address, email and order details.…
Following Tesla’s unveiling of its plans to produce its own batteries in order to trim costs, shares of its two battery suppliers fell on Wednesday. Shares of South Korea’s LG Chem and Japan’s Panasonic have fallen with the news reaching the market. After initially opening higher, LG Chem’s shares was trading down by 3.1% while…
United States based industrial giant General Electric has decided to exit the market of constructing coal-fired power plants and focus more on greener projects. This move is being seen as a dramatic reversal in the policy of one of the largest makers of coal based power plants in the world. With the company prioritizing its…
There is an apparent discrepancy about the details of the deal that as struck between the Chinese tech company ByteDance an American companies Oracle and Walmart over the divestment of the Chinese firm owned short video sharing app TikTok with both parties issuing conflicting statements on the matter on Monday. The two American companies had…
According to a report from the Wall Street Journal, Quibi, the streaming service founded by former Disney executive Jeffrey Katzenberg, is exploring strategic options including a possible sale, a funding round or going public through a merger with a special purpose acquisition company. When asked to comment, Quibi said it does not comment on rumor…
On Tuesday, Baidu-backed Chinese electric vehicle (EV) startup WM Motor said, it has raised $1.47 billion (10 billion yuan) in its latest funding round. In recent months, shares of Electric Vehicle makers, including that of Tesla Inc, have surged with auto makers looking to the markets for funds. Incidentally, China’s Xpeng Inc and Li Auto…
In a statement German auto giant Volkswagen AG said, owners of its ID.4 compact electric sport utility vehicle will gain three years of unlimited charging in the United States. This will at no additional cost to the price of the vehicle. Customers who purchased or leased its ID.4 electric SUV, which was launched in August…
In a statement Brazil’s facial biometrics and digital admission startup Acesso Digital said, Japan’s SoftBank Group Corp and U.S. private equity firm General Atlantic LLC are leading a $107.25 million (580 million reais) funding round. Following the investment, both, General Atlantic and SoftBank, will hold a minority stake in Acesso Digital. Founded in 2007, Acesso…
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