Bloomberg Cars24 Services Pvt is raising $450 million in equity and debt from SoftBank Group Corp and other investors, underscoring growing demand for used vehicles as Covid disruptions and systemic chip shortages crimp auto production. The round values India’s largest used-car site at $1.84 billion, almost doubling from the end of last year. SoftBank, DST Global and Falcon Edge Capital ...

Bloomberg Hybrid vehicles are a better fit than battery-powered electric cars for India in the immediate future, given the nation’s shortcomings in EV infrastructure, according to the regional head of auto parts supplier Schaeffler AG. “Hybrid vehicles will play an equally important role because they are able to address some of the immediate infrastructure challenges around e-mobility,” Dharmesh Arora, Schaeffler’s ...

Bloomberg Indonesia’s moratorium on new oil palm plantation permits is set to expire this week as the industry awaits clarity on whether the government will extend the policy. President Joko Widodo ordered a stop to permit issuance for new plantations and expansion of existing ones for three years in a decree signed on September 19, 2018. That order expanded on ...