In addition to Didi Chuxing and BP, we also have updates from Progcap, the Indonesian government’s electric car ambition, and ByteDance
Didi Chuxing, BP to build e-vehicle charging infrastructure in China – TechCrunch
Ride-hailing giant Didi Chuxing and British oil and gas giant BP today announced the formation of a joint venture to build electric-vehicle charging infrastructure in China, TechCrunch reported.
The service will be available for both Didi and non-Didi drivers.
BP’s first charging site in Guangzhou has already been connected to XAS (Xiaoju Automobile Solutions), a platform that was launched by Didi in April 2018 for all its vehicle-related services.
The announcement of the joint venture came in just a week after Didi announced a US$600 million funding from Toyota Motor Corporation, which enabled Didi to set up a joint venture with GAC Toyota Motor to provide vehicle-related services to Didi drivers.
India’s Progcap raises US$5M funding led by Sequoia – Deal Street Asia
Delhi-based fintech startup Progcap has raised a US$5 million Series A funding round led by Sequoia India, Deal Street Asia reported.
The funding round also included the participation of MV Nair, chairman of Credit Information Bureau (India) Ltd (CIBBIL); Sandeep Tandon, co-founder of Freecharge; as well as existing investors GrowX Ventures Fund and Somak Ghosh.
Progcap is a platform that aims to facilitate debt capital for underserved micro and small businesses in India. It was founded in 2017 by Pallavi Shrivastava and Himanshu Chandra.
The funding will be used to strengthen its operations, support product development, and accelerate pan-India expansion.
Also Read: Today’s top tech news, Feb 14: China’s Didi Chuxing injects US$100M into OYO
Indonesia to incentivise electric-car manufacturers and ownership – Bloomberg
Indonesia is planning incentives for electric-car manufacturers and drivers in order to help bolster a sector that has already lured investment from Toyota Motor Corp and SoftBank Group Corp, Bloomberg reported.
Citing a draft government strategy that is awaiting approval from President Joko Widodo, the plan is said to include lower taxes for manufacturers and buyers.
It also included benefits for owners such as special parking areas.
ByteDance to build a search engine to compete with Baidu – Kr.Asia
ByteDance has begun the recruitment process to build a general search engine for all internet users, Kr. Asia wrote.
Citing a WeChat announcement from the company, the move is seen as a plan to compete against Baidu
The search engine will be built by the same team that has built search functions inside ByteDance’s apps such as Jinri Toutiao and TikTok.
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