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
Faraday Future Scraps $1 Billion Vegas Factory, Downshifts To California Cow Town
Faraday Future, the U.S.-based electric car startup founded by embattled Chinese entrepreneur Jia Yueting, today announced they have signed a lease for a future manufacturing facility for their high-performance electric, autonomous vehicle, named the FF91. But the new facility is not outside glitzy Las Vegas, as originally planned, but in Hanford, California, a hard-scrabble agricultural… Continue reading Faraday Future Scraps $1 Billion Vegas Factory, Downshifts To California Cow Town
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
eBaoyang Completes $20M Series B Round Led By Beijing Kunlun
Beijing-based O2O (online-to-offline) automobile maintenance service provider eBaoyang has received US$20 million series B financing led by Shenzhen-listed online gaming firm Beijing Kunlun Technology Co., Ltd., according to Chinese media reports. Beijing Kunlun invested US$11 million, while existing investor Source Code Capital also participated. Founded in January 2014, eBaoyang launched its services in May 2014.… Continue reading eBaoyang Completes $20M Series B Round Led By Beijing Kunlun
LeEco-backed Faraday Future Hires Deutsche Bank, BMW Veteran Stefan Krause As CFO
Faraday Future, a Los Angeles based smart electric car company backed by Jia Yueting, founder of Chinese technology conglomerate LeEco, has hired Stefan Krause as the company’s global chief financial officer. Krause is a former Deutsche Bank executive and chief financial officer of Bayerische Motoren Werke AG. Krause will be responsible for corporate finance, investor… Continue reading LeEco-backed Faraday Future Hires Deutsche Bank, BMW Veteran Stefan Krause As CFO