Chinese ride-hailing giant Didi Chuxing is seeking to raise as much as $400 million for its logistics unit, which could value the unit at as much as $2 billion, Bloomberg reported. The unit, known as Didi Freight, is an Uber for trucks and comes as the coronavirus pandemic has accelerated Chinese consumers’ shift to e-commerce. Didi is going up against larger competitor Manbang, also known...
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The Electric: Western Auto and Battery Makers’ Big Gamble on Indonesian Nickel
For much of the last century, metals companies have made stainless steel from nickel mined in Russia or the Philippines and smelted at temperatures up to 2,900 degrees. But demand for nickel is outstripping supplies because the metal is a key component in most electric vehicle batteries. So metals producers have turned to a new supplier—Indonesia, which possesses vast reserves of a previously...
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