ProLogium Technology, a Taiwanese solid-state lithium ceramic battery developer, announced today that it has raised nearly US$100 million in Series D financing from BOCG Investment and FAW Group. The proceeds of the new round of financing will be used for the commercialization and factory construction of solid-state lithium batteries. Previously, the firm had received continuous… Continue reading Taiwanese Lithium-Ceramic Battery Maker ProLogium Technology Raises $100M In Series D Round
Author: China Money Network Online News
NIO Capital Leads Round In Chinese Cloud Service Firm BoCloud
Chinese cloud solution service provider BoCloud announced the completion of a one-billion-RMB series C round of financing. This round of financing by NIO Capital, the investment arm of Chinese electric vehicle maker NIO. By the end of 2019, BoCloud’s products have been widely used in more than 10 fields by over 200 large and medium-sized… Continue reading NIO Capital Leads Round In Chinese Cloud Service Firm BoCloud
Chinese Self-driving Logistics Vehicle Startup Neolix Raises $28M In Series A+ Round
Chinese self-driving logistics vehicle startup Neolix Technologies announced that it has raised nearly RMB200 million (US$28.8 million) in series A+ round of financing in February this year. The new round was led by Chinese EV car maker Leading Ideal. Addor Capital and existing shareholders Yunqi Partners and Glory Ventures also particiated. Neolix announced in May… Continue reading Chinese Self-driving Logistics Vehicle Startup Neolix Raises $28M In Series A+ Round
Chinese Self-Driving Startup AutoX Scores Pre-B Round
AutoX, a self-driving start-up, announced that it had completed a Pre-B round of financing worth tens of millions of U.S. dollars at the end of December. It was led by Shenzhen Qianhai Hongzhao Fund and backed by other Shenzhen-based RMB funds. This round of financing will mainly be used for the applications in the Chinese… Continue reading Chinese Self-Driving Startup AutoX Scores Pre-B Round
Chinese PPT Car Making Ancestor Youxia Motors To Be Acquired By Local Government
After the factory started construction one and a half years before, Youxia Motors, regarded as the ancestor of the so-called “PPT car making” in the industry, has not yet officially launched the first mass-produced mode. The government of Wuxing District, Zhejiang Province, which had high expectations for it, began to find ways to deal with… Continue reading Chinese PPT Car Making Ancestor Youxia Motors To Be Acquired By Local Government
Didi Rumored To Acquire Bike Sharing Firm Ofo For $2 Billion
Chinese ride sharing giant Didi Chuxing is rumored to be acquiring bike sharing firm Ofo for around US$2 billion, said a Chinese media report citing a leaked document. Embattled Ofo has been reportedly in deal talks with different parties for the past many months. Speculation of Ofo’s sale to a bigger company intensified after Meituan… Continue reading Didi Rumored To Acquire Bike Sharing Firm Ofo For $2 Billion
Geely Sets Up JV With German Air Taxis Start-Up After Leading Its $55M Series C1 Round
Chinese automotive company Zhejiang Geely Holding Group has led the first closing of a series C round of financing worth €50 million (US$55.16 million) in German aircraft manufacturer Volocopter, which will help the start-up realize commercial launch within the next three years. The investment took the total capital raised by Volocopter to €85 million (US$93.77… Continue reading Geely Sets Up JV With German Air Taxis Start-Up After Leading Its $55M Series C1 Round
Geely Files $293M Lawsuit Against Chinese EV Start-Up WM Motor
Chinese automotive company Geely has sued four companies affiliated with WM Motor, a Shanghai-based electric vehicle maker backed by Baidu, for “infringement of trade secrets,” and demanded as much as RMB2.1 billion (US$293.43 million) for compensation. The lawsuit, which was filed last year, is set to hold a hearing on September 17, 2019, according to… Continue reading Geely Files $293M Lawsuit Against Chinese EV Start-Up WM Motor
Xpeng Brings In Xiaomi As Strategic Investor In $400M Series C Round
Xpeng Motors showcased the P7, its first four-door coupe model with Level 3-ready autonomous driving capabilities at Alibaba Cloud’s APSARA Computing Conference in Hangzhou in September 2019. (Image credit: Xpeng Motors) This article by Chris Udemans originally appeared on TechNode, the leading English authority on technology in China. Xpeng Motors has brought onboard smartphone maker… Continue reading Xpeng Brings In Xiaomi As Strategic Investor In $400M Series C Round
Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales
Chinese electric vehicle start-up NIO is starting another round of layoff as its car sales have plummeted. Due to challenges of car quality, recalls, and dwindling sales, NIO will lay off 1,200 staff by the end of September. After that, its total number of employees will be around 7,500, Li Bin, founder, chairman and CEO… Continue reading Chinese EV Maker NIO Begins New Round of Layoffs Amid Struggling Sales