By Nick Carey LONDON (Reuters) - British electric van and bus maker Arrival will develop an electric car for Uber Technologies Inc that will go into production in late 2023, the two companies said on Tuesday. Arrival and Uber will also explore a strategic relationship in key markets, including the United Kingdom, European Union and United States. The Arrival Car will be an affordable, purpose-built electric vehicle for ride-hailing, and will go into production in the fourth quarter of 2023, the companies said.
Uber plans to be a fully electric mobility platform in London by 2025, and across North America and Europe by 2030. The company has raised more than 135 million pounds ($188 million) to help its drivers in London upgrade to an electric vehicle by 2025.
Read more about Nazara Technologies to hold 64.70% stake in Halaplay Technologies on Business Standard. The transaction is subject to customary condition precedents and approvals. Post the completion of the transaction, the Company will hold 64.70% stake in Halaplay on a fully diluted basis.
Bajaj Finance s consolidated net profit jumped 42% to Rs 1,347 crore on 5% decline in total income to Rs 6,855 crore in Q4 FY21 over Q4 FY20. The NBFC s new loans booked during Q4 FY21 stood at 5.47 million, down by 9% over 6.03 million in Q4 FY20. Customer franchise as of 31 March 2021 was at 48.57 million compared with 42.60 million as of 31 March 2020. Bajaj Finance acquired 2.26 million new customers in Q4 FY21 compared with 1.85 million in Q4 FY20.
Axis Bank reported net profit of Rs 2677 crore in Q4 FY21 compared with net loss of Rs 1387.78 crore in Q4 FY20. Total income during the quarter declined marginally by 0.03% to Rs 20,213.46 crore in Q4 FY21 over Q4 FY20. The bank posted a pre-tax profit of Rs 3569.67 crore in Q4 FY21 compared with pre-tax loss of Rs 1878.91 crore in Q4 FY20.
Info Edge on Tuesday said it will sell stake worth Rs 750 crore in the initial public offering (IPO) of its investee company Zomato. In a regulatory filing, Info Edge said Zomato an online food delivery platform is proposing an IPO of its equity shares, comprising a fresh issue of equity shares by Zomato Ltd and an offer for sale by Info Edge (India) Ltd. The Board of Directors of the Company today considered and have given their approval to the company to participate in the said Offer for Sale of up to such number of shares of Zomato Ltd as would aggregate upto Rs 7,500 million., it added.