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China's EVs Force Foreign Auto Makers to Catch Up

China's EVs Force Foreign Auto Makers to Catch Up
bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.

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Chinese Auto Giant Geely Explores SPAC Deals — Update

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Dow Jones
By Jing Yang and Trefor Moss
One of China s largest car makers, Zhejiang Geely Holding Group Co., is making plans to tap into the surging market for SPACs.
The multinational company, which owns Geely Automobile Holdings Ltd., Volvo Car Group and several other electric-vehicle brands, is in talks to sponsor a special-purpose acquisition company that could raise $300 million in a Nasdaq initial public offering, according to people familiar with the matter.
In addition, the Hangzhou-based group is considering taking one of its European electric-vehicle subsidiaries public by merging it with another SPAC and boosting its valuation sharply, to as much as $40 billion, the people said. ....

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Chinese Auto Giant Geely Explores SPAC Deals

Provided by
Dow Jones
By Jing Yang and Trefor Moss
One of China s largest car makers, Zhejiang Geely Holding Group Co., is making plans to tap into the surging market for SPACs.
The multinational company, which owns Geely Automobile Holdings Ltd., Volvo Car Group and several other electric-vehicle brands, is in talks to sponsor a special-purpose acquisition company that could raise $300 million in a Nasdaq initial public offering, according to people familiar with the matter.
In addition, the Hangzhou-based group is considering taking one of its European electric-vehicle subsidiaries public by merging it with another SPAC and boosting its valuation sharply, to as much as $40 billion, the people said. ....

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TikTok sale to Oracle, Walmart is shelved as Biden reviews security

TikTok sale to Oracle, Walmart is shelved as Biden reviews security
The TikTok app s logo
(REUTERS)Premium
John D. McKinnon,
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A US plan to force the sale of TikTok’s American operations to a group including Oracle Corp. and Walmart Inc. has been shelved indefinitely, people familiar with the situation said, as President Biden undertakes a broad review of his predecessor’s efforts to address potential security risks from Chinese tech companies.
The TikTok deal which had been driven by then-President Donald Trump has languished since last fall in the midst of successful legal challenges to the US. government’s effort by TikTok’s owner, China’s ByteDance Ltd. ....

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In China, Tech-Worker Deaths Spark Online Backlash

By Sha Hua
HONG KONG The delivery man doused himself in gasoline and set himself on fire. Engulfed in flames, he protested for what he said were unpaid fees from a business tied to Chinese technology giant Alibaba Group Holding Ltd.
I want my blood- and sweat-money back, said the man, Liu Jin, covered in ash, as police officers tried to rush him to the hospital on Monday, a widely shared video posted on social media showed.
The 48-year-old Mr. Liu, who survived but suffered severe burns, is one of the millions of workers in China s tech sector whose plight has ignited online denunciations of the country s internet giants by internet users and state media. The outcry shines a spotlight on the grueling working conditions and hard-edge labor practices that many blue- and white-collar workers face as the internet companies they work for battle over users. ....

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