Toyota Motor develops modular fuel cell systems towards hydrogen powered society

On Friday Toyota Motor Corp said, it has developed a packaged fuel cell system module that cuts carbon footprint midst the industry’s tilt towards electric vehicles (EVs). Toyota Motor, which launched a revamped version of the Mirai in December has not been successful in winning drivers over to fuel cell vehicles (FCV). The FCV segment…

Indian short video sharing app Josh raises more than 100 million in funding round

An Indian short-video sharing app, Josh, has raised more than $100 million from investors including Microsoft, and Google, in a growing space that further eats into TikTok’s market share. Josh is one of several short video platforms have cropped up after India blocked the Chinese consumer data harvesting app in June. Josh has drawn global…

Chinese EV maker Xpeng increase size of U.S. IPO to 1.5 billion, retains greenshoe option allowing it further raise $224.4 million

According to two sources with direct knowledge of the matter at hand, Chinese electric vehicle (EV) maker Xpeng XPEV has increased the size of its U.S initial public offering (IPO) to around $1.49 billion. “The company will price its shares at $15 each, after initially indicating they would be sold for $11 to $13 when…

Malaysia Competition Commission imposes $20 million fine on Grab for violating competition law

MyCC has imposed a daily penalty of 15,000 ringgit starting from today for as long as Grab fails “to take remedial actions as directed by the commission in addressing the competition concerns”. On Thursday, Malaysia’s competition regulator proposed to levy a fine of $20.53 million (86 million ringgit) on ride-hailing firm Grab for violating the…

FB’s cryptocurrency get major backing

Backers include PayPal, Visa Inc, Uber Technologies Inc and Mastercard Inc. In a significant development, Facebook Inc’s cryptocurrency has received backing from more than a dozen companies including PayPal Holdings Inc, Visa Inc, Uber Technologies Inc and Mastercard Inc. According to a report from the Wall Street Journal, each company will invest nearly $10 million…