Chinese state-owned aerospace and defense company Aviation Industry Corporation of China (AVIC) has acquired automobile parts maker Henniges Automotive Holdings, Inc. from U.S. private equity firm, Littlejohn & Co. Financial details are not disclosed, but a company announcement says the deal is one of the largest acquisitions by a Chinese company of a U.S.-based automotive… Continue reading AVIC Acquires Henniges Automotive From Littlejohn
Category: News Type
Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
Chinese smartphone maker OPPO Electronics Corp. and investment firm Huiyou Capital have led a RMB150 million (US$22 million) funding round in Ponycar, a Shenzhen-based electric vehicle sharing start-up, with participation from Shenzhen-based investment bank China Peakedness. Founded in 2016, Ponycar provides hourly electric vehicle rental services allowing customers to use a mobile app to find… Continue reading Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
China Plans Ambitious Expansion Of EV Charging Pole Network
Forty-eight major Chinese cities are planning ambitious expansion plans to increase the total number of electric vehicle charging stations to 1,549, and the number of charging poles to 238,559 by 2015. That compare with a total of 307 charging stations and 16,947 charging poles in these 48 cities as of October 2013, according to Chinese… Continue reading China Plans Ambitious Expansion Of EV Charging Pole Network
Galaxy Capital Leads $18M Series B Round In YouChe
Beijing-based online used car trading platform YouChe has completed US$18 million series B financing led by Galaxy Capital, according to Chinese media reports. Existing investors IDG Capital Partners and Zhen Fund also participated in the round. Founded in December 2013, YouChe previously received several million RMB angel investment from Zhen Fund in December 2014. In… Continue reading Galaxy Capital Leads $18M Series B Round In YouChe
China Eyes Two Million New Energy Vehicles In Annual Production By 2020
China aims to achieve annual production and sales of two million new energy vehicles by 2020, as the country ramps up efforts to expand its green energy sector and reduce dangerous levels of air pollution in its major cities. New energy cars are defined as vehicles powered by alternative sources of energy. They include hybrid,… Continue reading China Eyes Two Million New Energy Vehicles In Annual Production By 2020
Mobike To Expand Bike Rental Services To Japan
Leading Chinese bike-sharing company Mobike says it has established a Japanese subsidiary, Mobike Japan Ltd., in Fukuoka city, with plans to begin services in that city later this year. The move comes after the company expanded into Singapore in March and announced plans to launch services in the U.K. later this month. “Mobike is very… Continue reading Mobike To Expand Bike Rental Services To Japan
Joy Capital Participates In Tuhu’s Series C Round
Shanghai-based automobile after-sales products and services e-commerce platform Tuhu has completed its series C funding round from Joy Capital, Welkin Capital Management, Far East Horizon Limited, and Haitong Securities Co., according to a company announcement. The company raised approximately US$100 million in the latest round, says a company representative. Existing investors Legend Capital and Qiming… Continue reading Joy Capital Participates In Tuhu’s Series C Round
Faraday Future Reportedly Seeks $1B To Protect Itself From LeEco Cash Crunch
Faraday Future, a Los Angeles based smart electric car company backed by Jia Yueting, founder of Chinese technology conglomerate LeEco, is reportedly seeking a new funding round of US$1 billion from large-scale investors including sovereign wealth funds, according to media reports citing insiders. Jia Yueting, who previously injected roughly US$500 million of his own money… Continue reading Faraday Future Reportedly Seeks $1B To Protect Itself From LeEco Cash Crunch
SAIC Capital Leads New Funding Round In SDC Materials
Tempe, Arizona-based automotive material maker SDC Materials, Inc. has completed an undisclosed round of new financing led by SAIC Capital, the venture capital investment arm of Chinese car maker SAIC Motor Corporation, according to a company announcement. Existing investors, including General Motors Ventures, BASF Venture Capital, Volvo Group Venture Capital, Invus Financial Advisors and Emerald… Continue reading SAIC Capital Leads New Funding Round In SDC Materials
Five Chinese Electric Vehicle Start-Ups That Could Rival Tesla
Across China’s 9.6 million square kilometers of land, there was never a shortage of ambition. So too with the electric vehicle revolution. Despite being a late comer to the EV craze, the country’s start-ups are not shy about aiming high. At least half-a-dozen Chinese EV start-ups – not including traditional car makers going green –… Continue reading Five Chinese Electric Vehicle Start-Ups That Could Rival Tesla