Automotive manufacturer Volkswagen AG has said it will invest over US$12 billion by 2020 with its Chinese partners to launch as many as 40 new electric and hybrid vehicle models in China by 2025. The first of the new models could enter the Chinese market as early as next year, Jochem Heizmann, the head of… Continue reading Volkswagen To Invest $12B To Launch 40 EV Models In China By 2025
Category: News Site
Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture
Ford Motor Co has signed a memorandum of understanding with China’s Anhui Zotye Automobile Co., Ltd. to jointly manufacturing all-electric vehicles in China. Under the agreement, a 50-50 joint venture will develop, produce, market and service a new line of all-electric passenger vehicles. The vehicles will be marketed under an indigenous brand name owned by… Continue reading Ford, Zotye Automobile To Establish China Electric Vehicle Joint Venture
Tesla Said To Eye Guangdong Car Plant In China
U.S. electric car maker Tesla Motor Inc. may set up a production base in Guangdong province via a wholly owned enterprise in the Chinese manufacturing and assembly hub, Chinese media reported citing insiders. The plan still needs local government approval and may be subject to change. Tesla has been seeking ways to establish local production… Continue reading Tesla Said To Eye Guangdong Car Plant In China
Tencent, Baidu Lead $600M Round In Chinese Electric Vehicle Maker NIO
Tencent Holdings Ltd. and Baidu Inc. have led a US$600 million funding round in Shanghai-based electric car maker NIO, formerly known as NextEV, according to Chinese media reports citing insiders. IDG Capital, American investment firm TPG, Hillhouse Capital, Lenovo Group Ltd., Singapore-based GIC Private Ltd., and a number of investors also participated in the round,… Continue reading Tencent, Baidu Lead $600M Round In Chinese Electric Vehicle Maker NIO
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
Chinese Bike Rental Firm Mobike Launches Services In The UK
Shanghai-based smart bike rental firm Mobike today announced it will launch its service in the British cities of Manchester and Salford later this month, marking the multi-billion dollar start-up’s first operation outside of Asia and the beginning of further expansion in Europe. Starting June 29, people in Manchester and Salford will be able to download… Continue reading Chinese Bike Rental Firm Mobike Launches Services In The UK
China’s BAIC Group Launches EV Battery-Swap Station Network In Beijing
A new energy subsidiary of Beijing Automotive Group (BAIC Group) has delivered the first few battery-switch stations for EV taxi in Beijing, as China continues to fight against severe pollution in the country. The stations form the largest network in the world for electric taxi battery charging and swapping, BAIC BJEV said in a statement.… Continue reading China’s BAIC Group Launches EV Battery-Swap Station Network In Beijing
Shanghai Puts Breaks on Bike Share Frenzy, Asks Mobike, Ofo To Temporarily Halt Bike Placement
The Shanghai government has asked six bike sharing companies including Mobike and ofo to temporarily suspend bike placement in the city’s central districts, saying shared bikes have reached saturation point in those areas. The move may put the breaks on a venture capital-fueled bike sharing frenzy taking place in China. It also highlights regulatory risks… Continue reading Shanghai Puts Breaks on Bike Share Frenzy, Asks Mobike, Ofo To Temporarily Halt Bike Placement