In a statement, Lion Electric Co stated it plans on going public through a merger with blank-check company Northern Genesis Acquisition Corp. The startup aims to ramp up production capacity to tap growing demands for electric vehicles. Known for its yellow electric school buses, Quebec-based Lion Electric expects to receive around $500 million of net…
The secondary listing is of strategic importance to Alibaba since it would provide it with fresh funds which it needs to beat its U.S. rivals; technology is a sector where China lacks behind the U.S.; fresh capital infusion is required in the newer sectors it has expanded into such as cloud computing. According to sources…
Under Jack Ma’s stewardship Alibaba grew into an e-commerce giant that it is today. Jack Ma, Alibaba Group Holding Ltd’s executive chairman and co-founder, who is also one of China’s best known corporate leaders, is set to retire from the e-commerce giant. The former English teacher now plans on focusing on philanthropy in education. As…
Naspers said the sale was for strengthening its balance sheet and to boost growth in its e-commerce business. On Friday, Naspers, a South Africa-based multinational internet and media group, stated it has raised $9.8 billion by selling 2% of its holdings in China’s Tencent Holdings Ltd. A move, it described as being aimed at strengthening…
Although a succession plan is ready and analysts no change in the company’s profitability, however, new emerging technologies could potentially see a spike in TSMC’s costs, said analysts.
While Ford sold 6.7 million cars in 2016 to get its net worth, Tesla sold less than 80,000 cars in the same period. In a landmark development for Tesla, Bloomberg has reported that the luxury carmaker’s value has surpassed Ford’s. While Ford Motors is currently valued at about $45.1 billion, Tesla is valued at $47.8…
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