- Briefing Your roundup of Asian tech and startup news that matter
Aditya Hadi Pratama · · 1 min readChina Roundup: Self-driving truck maker bags millions in funding, and other news
Self-driving truck maker Trunk bags millions in funding
-
The company raised several hundred million yuan (nearly tens of million dollars) in a funding round led by Yuexiu Industrial Investment Fund, ZWC Partners, and Bohai Zhongsheng.
-
Trunk plans to use the fresh money to speed up research around and mass production of its autonomous trucks.
-
Founded in 2017, the startup provides automated driving tech and transportation services for shipping hubs and highway logistics.
Hisense to spend US$1 billion to acquire Siemens unit
-
Siemens’ smart traffic systems business makes intelligent cameras, radars, and traffic lights, as well as the software that controls them.
-
The smart traffic systems unit posted around US$678 million in annual revenue this year.
-
To date, the Chinese home appliances maker has acquired several businesses, such as Japan-based Toshiba Visual Solutions; Sanden Holdings, a vehicle air conditioner firm; and Gorenje, a Slovenia-based kitchen appliance producer.
US-based electric vehicle maker set to build plants in China
-
Peter Rawlinson, chief executive of Lucid Motors, said that his company plans to make EV plants in China and the Middle East by “mid-decade.”
-
Founded in 2007, the company just started commercial production of its first electric car in September.
-
Tesla, the US-based electric vehicle giant, also has opened a factory in China in 2019.
Currency converted from Chinese yuan to US dollar: US$1 = 6.46 yuan
Editing by Deepti Sri and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
