Category: Automotive

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

N5 Capital Leads $10M Series A Round In Che101

Beijing-based second-hand automobile trading platform Che101 has completed US$10 million series A funding led by N5 Capital, according to Chinese media reports. Existing investor Lightspeed Venture Partners also participated in the round. Che101 previously received several million U.S. dollar investment from Lightspeed. The company says it plans to expand its used car database to 50… Continue reading N5 Capital Leads $10M Series A Round In Che101

Tesla Wannabe Faraday Future Says Nevada Factory Construction Ongoing

Faraday Future, a smart electric car company backed by Jia Yueting, founder of Chinese technology conglomerate LeEco, says work on its planned Nevada factory is ongoing. The announcement comes as the company tries to rebuild its reputation after reports of cash shortages and fleeing executives. Nick Sampson, a senior vice president of research and development at… Continue reading Tesla Wannabe Faraday Future Says Nevada Factory Construction Ongoing

Peugeot boss wants to talk with Merkel about Opel

The possible sale of Opel to Peugeot is met with skepticism by the German government and trade unions. Peugeot boss Tavares wants to advertise personally for the project. Mary Barra, boss of the former owner General Motors, has already traveled to Germany. PSA boss Carlos Tavares Wednesday, 15.02.2017 11:05 clock The Peugeot parent PSA is… Continue reading Peugeot boss wants to talk with Merkel about Opel