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Tag: Booming

Tesla’s China business is booming

Loknath Das, , , ,

Sacconaghi: Bullish on Tesla long-term  Thursday, 9 Mar 2017 | 12:20 PM ET | 05:46 Elon Musk’s Tesla is a growing player in China, where the global fight to develop electric, self-driving cars is raging hot. Hong-Kong traded Tencent, a company best known for its WeChat messaging app, disclosed in a Tuesday filing that it’s taken a 5 percent stake in Tesla for $1.78 billion. The investment follows Tencent’s new stake in taxi-hailing app Didi Chuxing, which can be accessed through WeChat. “I think Tencent likely wanted exposure to a company…

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Uber, Ola Face Off in Battle for India’s Booming Taxi Market

Srijita, , , , , , , , , ,

Aiming to wrest control of India’s booming taxi market, two cab-hailing smartphone apps – Uber and Ola – are promising hundreds of millions in new investment while also facing off with one another in court. San Francisco-based Uber reportedly plans a $500 million (roughly Rs. 3,318 crores) infusion of new funds, apart from the $1 billion (roughly Rs. 6,637 crores) already committed over the past nine months, according to Indian newspapers. The company declined this week to comment on those reports. Meanwhile, Ola Cabs promises to add another 2,000 cars…

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