China will launch a pilot electric vehicle battery recycling scheme in 17 cities and regions including the Beijing-Tianjin-Hebei region, Shanxi Province and Shanghai to help clean up the country’s environment. UNLOCK DATASubscribe & Access the Best Data and Intelligence on Chinese Venture Capital and Tech Want to read this important story? Access Over 11,000 stories… Continue reading China Launches Pilot EV Battery Recycling Schemes To Counter Pollution
Author: China Money Network Online News
Chinese EV Maker NIO Raises $1B In US IPO
Chinese electric vehicle start-up NIO Inc. officially entered the U.S. stock market with a US$1 billion initial public offering (IPO), becoming the first Chinese electric vehicle firm to go public in America. NIO announced the pricing of its IPO of 160 million American depositary shares (ADSs) at a price to the public of US$6.26 per… Continue reading Chinese EV Maker NIO Raises $1B In US IPO
Ant Financial Invests $321M In Hellobike At $1.47 Billion, Creating A New Unicorn In China
Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing. In October 2017, Youon Low Carbon Technology, a dockless bike-sharing subsidiary of docked public bike… Continue reading Ant Financial Invests $321M In Hellobike At $1.47 Billion, Creating A New Unicorn In China
Chinese EV Unicorn NIO Begins ES8 Deliveries As The First To Face Consumer Inspections
Finally, one Chinese electric vehicle company has reached the critical moment of delivering its vehicles to face the real-life tests and inspections by consumers. NIO, a Shanghai-based EV unicorn with a reported valuation of between US$3 billion to US$5 billion, delivered its first batch of NIO ES8, a seven-seater electric SUV, today in Shanghai, NIO… Continue reading Chinese EV Unicorn NIO Begins ES8 Deliveries As The First To Face Consumer Inspections
Tencent-Backed Chinese EV Firm NIO Files Confidentially For US IPO
Chinese electric vehicle company NIO, backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, according to media reports citing insiders. The Shanghai-based car maker, with a valuation of roughly US$5 billion when it last raised funding seven months ago, has submitted an initial confidential filing with the U.S. Securities… Continue reading Tencent-Backed Chinese EV Firm NIO Files Confidentially For US IPO
BMW First Foreign Car Company To Win Chinese Self-driving License
BMW China Services Ltd. has received two self-driving road test licenses from Shanghai regulators, making it the first foreign automaker to gain such permits, according to the official website of Shanghai Municipal People’s Government. The licenses allow BMW to use a 5.6-km section of public road in Shanghai International Automobile City to test its intelligent… Continue reading BMW First Foreign Car Company To Win Chinese Self-driving License
Didi Suspends Hitch Service For A Week Following Murder Case
Chinese ride hailing giant DiDi said it will suspend its hitch service nationwide for a week for rectification, following a murder case earlier this week. The case comes at a time when Didi is reportedly planning an initial public offering this year or next, and is facing increasing competition from strong new players in China’s… Continue reading Didi Suspends Hitch Service For A Week Following Murder Case
Baidu Sets Up $500M Internet, Artificial Intelligence Fund
China’s search engine giant Baidu Inc. has announced plans to set up a new fund worth of US$500 million in its first phrase to invest in Internet and artificial intelligence start-ups. The fund, named Changcheng Investment Partners, will be the third such fund established by Baidu. In 2016, Baidu set up Baidu Ventures, which raised… Continue reading Baidu Sets Up $500M Internet, Artificial Intelligence Fund
Didi Chuxing Cited For Operating Without Licenses Amid Tougher Competition
China’s largest ride-hailing firm Didi Chuxing was summoned by the Road Transport Management Bureau of Zhejiang Province and 11 city level transportation bureaus for operating without licenses in some cities, and was warned of unfair competition, according to a notice on China’s Ministry of Transport’s website. Didi hasn’t obtained ride-hailing licenses in five cities in… Continue reading Didi Chuxing Cited For Operating Without Licenses Amid Tougher Competition
NIO Capital Said Raising $500M Offshore Fund For Auto Investment
NIO Capital, a private equity fund established by Chinese electric car company NIO, is close to completing the first round of a US$500 million offshore fund that will invest in new automotive technologies, according to media reports. NIO Capital did not immediately respond to China Money Network’s email seeking for comment. The company is in… Continue reading NIO Capital Said Raising $500M Offshore Fund For Auto Investment