tldrdaily.news logo
Tag

Investment Agreement

All articles tagged with #investment agreement

world-news1 year ago

Protesters Storm Abkhazia Parliament Over Russia Deal

Protesters in Abkhazia, a Russian-backed breakaway region of Georgia, stormed the parliament demanding the resignation of the self-styled president over an unpopular investment deal with Russia. The agreement, which allows Russian investment in Abkhazia, has sparked fears among locals of being priced out of the property market. The unrest led to the occupation of the parliament building and the presidential administration offices, with at least eight people hospitalized. The Abkhazian government is now considering withdrawing the agreement.

via CNN|
#abkhazia#investment-agreement#political-unrest
business-and-finance2 years ago

"China Evergrande's EV Unit Faces Setback as Share Sale Agreements Expire"

Evergrande New Energy Vehicle, also known as Evergrande Auto, announced that its share subscription and loan conversion agreement with NWTN, a Nasdaq-listed Dubai automaker, has expired without renewal. This development casts uncertainty on the financial future of the Chinese electric-vehicle manufacturer, as the anticipated cash infusion from the deal is no longer expected.

via The Wall Street Journal|
#business-and-finance#electric-vehicles#evergrande-auto
business2 years ago

Lordstown Motors' Future in Jeopardy as Foxconn Deal Falters.

Lordstown, the EV start-up, may face bankruptcy after Foxconn signaled an end to their investment agreement. Lordstown has faced financial hardships in bringing its first electric model, the Endurance pickup, to the market since its founding in 2018. Foxconn has been there to back the EV start-up financially, with several investment rounds to revamp the program. However, with the Foxconn deal falling through, Lordstown says bankruptcy is a possibility. The company is looking for a resolution with ongoing discussions with Foxconn, but if Lordstown can’t come to terms, it will be an uphill battle getting the Endurance pickup to market.

via Electrek.co|
#bankruptcy#business#ev