Faraday Future (FF), an embattled electric car start-up based in California, announced on late Tuesday the appointment of Carsten Breitfeld as Global CEO, while Jia Yueting, FF’s founder, will step down from the CEO position to assume the role of chief product & user officer (CPUO). Breitfeld, an auto industry veteran specialized in electric mobility,… Continue reading Embattled Electric Carmaker Faraday Future Hails New CEO From BMW’s i8 Team
Author: China Money Network Online News
Faraday Future Seeks To Scrap Stake Sale To Evergrande Health
Electric vehicle start-up Faraday Future, which was founded by disgraced Chinese entrepreneur Jia Yueting, is seeking to terminate a stake sale deal to Chinese healthcare firm Evergrande Health Industry Group Limited, accusing the largest shareholder of deliberately withholding promised payments and preventing it from seeking alternative financing. Evergrande Health, a subsidiary of Chinese property developer… Continue reading Faraday Future Seeks To Scrap Stake Sale To Evergrande Health
Chinese EV Start-Up Byton To Close $500M In Series C Round Against Headwinds
Chinese electric vehicle start-up Byton showed off the final production version of its SUV model, “M-Byte SUV,” at the 2019 Frankfurt Motor Show on September 10, 2019. Chinese all-electric vehicle brand Byton is raising a series C round of financing at US$500 million from Chinese state-owned automotive manufacturer FAW Group and government-led industry investment funds… Continue reading Chinese EV Start-Up Byton To Close $500M In Series C Round Against Headwinds
Chinese EV Start-Up Leap Motor Enters Unicorn Club After $51M Fresh Funds
Chinese electric vehicle (EV) start-up Leap Motor announced last week that it has raised RMB360 million (US$51.85 million) in a series A-2 round of financing from the country’s new energy-focused investment firm Jinhua Zhongche Fund. Jinhua Zhongche Fund picked up 5.06% shares in the electric vehicle firm upon the completion of the new round, which… Continue reading Chinese EV Start-Up Leap Motor Enters Unicorn Club After $51M Fresh Funds
SAIC Capital’s PE Unit Closes $145M New Fund For Automobile Investments
Shang Qi Capital, a private equity arm of Chinese investment company SAIC Capital, announced on Friday the final closing of a new fund at RMB1 billion (US$145.36 million) as the investment outfit doubles down on investments in the automobile industry. The new private equity fund will continue leveraging Shang Qi Capital’s specialty in backing companies… Continue reading SAIC Capital’s PE Unit Closes $145M New Fund For Automobile Investments
Tesla, China Unicom To Build 400 Charging Stations In China
Palo Alto, California-based U.S. electric car maker Tesla Motors Inc. has signed an agreement with China’s second-largest telecommunications company China United Network Communications Group Co., Ltd. to build 400 charging stations by the end of this year in 120 Chinese cities at China Unicom branch offices, according to an official announcement. This is the latest… Continue reading Tesla, China Unicom To Build 400 Charging Stations In China
Chinese Electric Vehicle Start-Up Eyes To Net $600M Fresh Funds Amid Subsidy Cuts
Xpeng Motors, a Chinese electric vehicle (EV) start-up backed by Alibaba Group, is seeking to complete a new funding round at a “comparable amount” to the previous round that was about US$600 million, the company’s president Brain Gu Hongdi told American business news media CNBC. “Last year, we raised in a B plus round, raised… Continue reading Chinese Electric Vehicle Start-Up Eyes To Net $600M Fresh Funds Amid Subsidy Cuts
Taiwanese Solid-State Battery Maker ProLogium Sees Significant Adoption By Electric Vehicles
Prologium FLCB (flexible-type lithium-ceramic battery) Battery Solid-state batteries will power half of the electric vehicles in 2030, up from practically zero right now, predicts a Taiwanese company. As EV sales are expected to increase in the decades ahead driven by tighter regulation, solid-state battery makers may just become the next rising stars in the renewable… Continue reading Taiwanese Solid-State Battery Maker ProLogium Sees Significant Adoption By Electric Vehicles
China To Boost Adoption Of Electric Vehicles By Improving Charging Facilities
China is seeking to boost the country’s adoption of electric vehicles by significantly lifting the charging technology and facilities in the next three years, according to a policy jointly released by four government bodies yesterday. UNLOCK DATASubscribe & Access the Best Data and Intelligence on Chinese Venture Capital and Tech Want to read this important… Continue reading China To Boost Adoption Of Electric Vehicles By Improving Charging Facilities
Chinese EV Start-Up CHJ Automotive Debuts First SUV Model
Chinese electric vehicle (EV) start-up CHJ Automotive, founded by internet entrepreneur Li Xiang, unveiled its first sports utility vehicle (SUV) model on Thursday in Beijing, aiming to upend Chinese traditional auto industry and challenge rivals such as Tesla. The new car model, named “Leading Ideal ONE”, is priced under RMB400,000 (US$57,665) before counting the government… Continue reading Chinese EV Start-Up CHJ Automotive Debuts First SUV Model