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southeast asia

Southeast Asia e-tailer Lazada raises $100M in funding

Lazada, an online retail sales business focusing on Southeast Asia, says it has raised another $100 million from investors apparently confident of the region's growth potential.

The e-commerce site, which bills itself as the "Amazon of Southeast Asia," was launched in early 2012 by Germany's Rocket Internet, which specializes in launching e-commerce sites, mostly in emerging markets. Like Amazon, Lazada offers consumer electronics, household goods, toys, and sports equipment.

While online shopping is popular in other regions of the world, the company estimates that Southeast Asians still do 99 percent of their shopping offline. Lazada CEO … Read more

GM opens new state-of-the-art diesel engine plant in Rayong, Thailand

General Motors just opened a new $200 million, diesel engine plant in Rayong, Thailand.

The new engine plant, which is adjacent to the GM's vehicle manufacturing plant, will employ 500 workers and have the capability to manufacture about 120,000 engines per year.

GM expects to source $94 million worth of Thai-built components for the production of engines at its Rayong facility by 2012, the company said in a press release.

The first engines to be manufactured at the facility are for the new Chevy Colorado pickup. GM revealed the Colorado Show pickup at the Bangkok International Motor Show … Read more