Yazılar

Xpeng Plans to Hire Over 6,000 Workers in 2025 Amidst Market Competition

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Chinese electric vehicle manufacturer Xpeng announced plans to hire over 6,000 workers in 2025, as CEO He Xiaopeng shared in a letter to the company’s internal stakeholders on Tuesday. He anticipates intensifying market competition in 2025, with a price war expected to start in January. In response to the growing demand and competitive pressures, Xpeng aims to expand its presence globally, having already entered 30 countries and regions. The company has set an ambitious target to increase its footprint to over 60 markets by the end of 2025, continuing its rapid growth in the electric vehicle industry.

 

Singapore’s Bolttech Raises Over $100 Million in Series C Funding

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Bolttech, a Singapore-based insurance technology firm, has successfully raised more than $100 million in its latest Series C funding round, bringing its valuation to $2.1 billion. This round was led by Dragon Fund, a subsidiary of Mitsubishi UFJ Financial Group, and fintech direct lender Liquidity Group. The funding will support bolttech’s global expansion strategy.

Funding and Company Growth

The Series C funding round represents a significant increase from the $1.6 billion valuation in its previous Series B round, which took place in May 2023. Bolttech, founded in 2020, operates a digital platform that facilitates the buying and selling of insurance and protection products. The company’s platform connects insurers, distributors, and customers in over 35 markets across North America, Asia, Europe, and Africa.

Investment Details

In addition to Dragon Fund and Liquidity Group, other notable investors in the Series C round include UK investment management firm Baillie Gifford and the private equity arm of insurer Generali, Lion River. The latest investment marks a continued interest in the insurtech sector, which saw a peak of $1.38 billion in global investment in Q3 2023, driven in part by the growing influence of artificial intelligence in the industry.

Additional Funding

Bolttech also secured additional financial backing in 2023. In September, the company extended its Series B round, raising $246 million, including $50 million from impact investment firm LeapFrog. Last month, it closed a $50 million venture debt facility with HSBC.

 

Baidu Secures License to Test Autonomous Vehicles in Hong Kong

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Baidu’s Apollo robotaxi service has received approval to test autonomous vehicles in Hong Kong, marking the company’s first license for self-driving car trials outside mainland China. Hong Kong’s Transport Department announced Friday that Baidu Apollo International Ltd is authorized to conduct tests with 10 autonomous vehicles in the North Lantau region.

The license, valid from December 9, 2024, to December 8, 2029, will initially permit only one autonomous vehicle on specified road sections at a time. A backup operator will be required to remain onboard to take control of the vehicle if needed during the trials.

This approval is the first issued under Hong Kong’s new regulatory framework for autonomous vehicles, introduced in March 2023. While the Hong Kong government has promoted autonomous vehicle technology since 2017, public road trials have been limited until now.

Baidu’s Apollo Go service operates across several mainland Chinese cities, including Wuhan, where it manages a fleet of over 400 autonomous vehicles, the largest in the region. With competition in the autonomous vehicle sector intensifying, Baidu aims to expand its robotaxi services internationally to locations such as Hong Kong, Singapore, and the Middle East, according to recent reports.

The Hong Kong trial represents a significant step in Baidu’s global ambitions for its autonomous vehicle program and underscores the city’s evolving stance on integrating cutting-edge technology into its transportation ecosystem.