Weekly Roundup: 5th-11th November
- Total PARCO installs first Electric Car charging station
- BlueEX seeks to raise Rs446M in IPO
- Rivian goes public, starts trading on Nasdaq
Expanding Markets
BlueEX seeks to raise Rs446M in IPO
A logistics firm Universal Network Systems Ltd that operates under the name of BlueEX hopes to raise 445million rupees in an IPO on the Pakistan Stock Exchange (PSX). The company IPO will constitute the second listing on the GEM board. UNS was created in 2005 as a domestic cargo company that constitutes 6-8% of the market share. Read more here.
Rivian begins trading on Nasdaq after massive IPO
Rivian announces one of the biggest IPOs of 2021 and starts a new chapter as a publicly-traded company. The company began trading on the Nasdaq under the ticker symbol RIVN yesterday. The company went public at a valuation of $90 billion. Read more here.
Volvo sales surge in October 2021 by 334%
Volvo, a Swedish automotive manufacturer of luxury vehicles has reported a massive surge in the sales of its plug-in sub-brand Recharge. Recharge accounted for more than 24% of the total volume of its sales which is the new record for the company. Senior Vice President of Volvo said that with their electrification plans, they are more focused on the sales of its pure electric vehicles now. Read more here.
Self-driving software developer Aurora goes public
Self-driving technology company Aurora announced it completed its business combination with Reinvent Technology Partners Y and the common stock has now begun trading on the Nasdaq. The startup was founded by the former head of Google’s self-driving car project. Read more about it here.
Lime raises $523 as it plans to go public
Urban mobility E-scooter company Lime announced it had raised $523 million from investors to scale up the production of its latest e-scooters and e-bikes. The startup is aiming for a stock market listing in 2022 and plans to use this money as a launching pad to go public next year. Read more here.
Elon Musk sells $5billion of shares post Twitter poll
CEO Tesla, Elon Musk sold about $5 billion in shares a few days after he asked Twitter users about selling 10% of his stake in a poll. According to the filing, the motivation for this sale was solely to satisfy his tax withholding obligations related to stock options. Read more about it here.
On Cleaner Fuels
PepsiCo CEO says Tesla Semis likely to be delivered by year-end
PepsiCo CEO Ramon Laguarta announced that the company is expecting its delivery of Tesla Semi trucks by the end of this year. Speaking at COP26, he said the company is working on different solutions for overall gas emissions and the fleet is replaced regularly. The company is expecting electric trucks soon as well. Read more about it here.
An Electrified Future
Total PARCO installs first Electric Car charging station
Total Parco has inaugurated its first-ever Electric Vehicles charger at Packages Mall Lahore. CEO Total PARCO, Mr. Mehmet Celepoglu inaugurated the first of its kind charging station. It provides a fast charging solution for EV cars through a 50 KW charger that is capable of charging two vehicles simultaneously. Read more here.
Kia tops monthly electric sales charts
Kia UK has recorded its best-ever sales for the month of October, as announced by the Society of Motor Manufacturers and Traders. The company registered 7,436 units in October 2021, 22.8% of which are fully-electric sales, all thanks to the first deliveries of the Kia EV6. Read more here.
Hyundai teases all-electric “Seven” SUV concept
Hyundai has revealed glimpses of its latest all-electric concept “Seven” in a set of images. Hyundai is officially set to take the covers off a new concept electric car on November 17 at the Los Angeles Auto Show. Seven is a fully electric SUV that is likely to be a three-row vehicle that can seat seven people. Check more about it here.
Japanese auto-maker Subari unveils first all-electric car
Japan’s Subaru Corp on Thursday unveiled its first all-electric vehicle (EV), the Solterra. The car is a result of a two-year joint development project with its biggest shareholder, Toyota Motor Corp. The launch came amid accelerating demand for EVs as the world gathers to cut carbon emissions. Read more here.
Tesla passes Mercedes-Benz in new car registrations
Tesla overtook Mercedes in the third quarter as the third top-selling luxury automaker in the United States. Over the first nine months of this year, a total of 230,855 Teslas were registered across the nation while 213,708 Mercedes-Benzes were registered. Check out more here.
About Us:
This week in transport is a weekly round-up of everything happening in the transport world; from sustainable transport initiatives to expansion plans, and implementation of an intelligent transport system. Watch this space for more sector news!