Chinese EV startup Xpend raises $400 million in latest funding round

On Wednesday, Alibaba Group Holding Ltd backed Chinese electric vehicle (EV) manufacturer Xpeng stated it has raised $400 million from investors including Xiaomi Corp, to fund its growth. The fundraising comes at a time when industry watchers as well as bankers describe as an increasingly tough financing environment for Chinese EV startups who are jostling…

Volkswagen not interested in acquiring stake in Tesla: Herbert Diess

Potential headwinds include getting the consent of Volkswagen’s controlling Piech and Porsche families to fund the purchase of the stake. Denying a media report, which stated Volkswagen’s CEO Herbert Diess as wanting to purchase a stake in Tesla, the German carmaker stated, it was not interested in doing so. “The speculation about buying a stake…

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Salesforce acquires Israeli software developer ClickSoftware for $1.35 billion

Salesforce sees synergy in the deal as it would help it accelerate the growth of its Service Cloud platform. On Thursday, U.S. cloud-based service provider Salesforce stated, it has signed an agreement to acquire ClickSoftware, an Israeli software developer, for $1.35 billion in cash and shares. The acquisition of ClickSoftware, which makes cloud-based field service…

U.S. bound 5G equipment should be made outside China: U.S.

The Trump administration is exploring rules that will require all 5G cellular equipment destined for the United States to be designed and manufactured outside of China. According to a report from the Wall Street Journal, U.S. President Donald Trump is looking to require next-generation 5G cellular equipment used in the United States to be designed…