Shanghai-based Chinese electric vehicle maker NextEV has reportedly raised US$500 million from Sequoia Capital, Joy Capital and unnamed investors. Chinese media reports say the company plans to produce a more economical and environmentally friendly electric vehicle to rival Tesla in the U.S. China Money Network cannot verify the news and the financing deal value. Founded… Continue reading Sequoia, Joy Capital Joins $500M Round In NextEV
Tag: Electric vehicles
Will Tesla’s China Story Lose Its Charge?
In this episode of China Money Podcast, our host Nina Xiang talks to reporter Viola Zhou, about Tesla Motor’s China expansion and the challenges the innovative American company is likely to face in the world’s largest automobile market. You can read Viola Zhou’s investigative story here, or listen to the audio podcast. Be sure to… Continue reading Will Tesla’s China Story Lose Its Charge?
Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant
Future Mobility Corporation, a Chinese electric car start-up backed by Tencent Holdings Ltd. and Foxconn Technology Group, announced plans yesterday to invest RMB11.6 billion (US$1.7 billion) to build a new factory in Nanjing to manufacture its self-developed electric vehicles. The planned project is expected to have the capacity to produce 300,000 cars a year eventually,… Continue reading Tencent-Backed EV Start-Up Future Mobility Eyes $1.7B Nanjing Plant
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
Chinese Video From LeTV To Build Electric Cars
Beijing-based Chinese online video company LeTV Holdings Co., Ltd. plans to build electric cars in China to fight against the country’s worsening air pollution, according to the Weibo account of the company’s chairman Jia Yueting. The move will see the Shenzhen-listed online video firm compete directly with Chinese car makers including BYD Auto, SAIC Motor… Continue reading Chinese Video From LeTV To Build Electric Cars
Swedish Minister Says Chinese Investors Welcome In Home Of Nobel Prize
Sweden may not be the most populous of nations, with just 9.8 million people. But the country that brought us the the Nobel Prize for science has given birth to a disproportionately high number of tech giants. Skype, the Internet calling service bought by Mcirosoft, digital music service Spotify, popular mobile game Candy Crush and… Continue reading Swedish Minister Says Chinese Investors Welcome In Home Of Nobel Prize
Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Beijing-based bike sharing company ofo has hired Michelle Chen (pictured), former head of product at Uber China, as chief project officer to handle the company’s product design and data research. She will report directly to the company’s founder and CEO, Dai Wei. Chen joined Uber Technologies Inc. in 2015, and was responsible for the U.S.… Continue reading Chinese Bike Firm Ofo Hires Former Uber Product Chief Michelle Chen As CPO
Opel plans conversion to pure electric brand
The car manufacturer Opel has been inaugurated very late in the sales talks of GM and Peugeot, according to manager magazin information. The GM daughter has an alternative plan in the drawer. Opel boss Karl Thomas Neumann in Ampera-e. Wednesday, 15.02.2017 13:20 The board of the car manufacturer Opel is from the Acquisition negotiations with… Continue reading Opel plans conversion to pure electric brand
So threatening are Opel and Peugeot for Volkswagen
After the Opel takeover, PSA will be Europe’s second-largest automaker. The group is a real threat to the market leader VW – especially in the future field of electromobility. TESSON / EPA / REX / Shutterstock Carlos Tavares Monday, 06.03.2017 20:40 PSA boss Carlos Tavares prefers to lead his company with clear goals. The avid… Continue reading So threatening are Opel and Peugeot for Volkswagen
Tavares sets Opel employees gallows period
Opel has three years, but then the German car maker must purr PSA according to his French buyer. The workforce in Rüsselsheim puts this under enormous pressure. PSA boss Carlos Tavares Monday, 06.03.2017 15:17 clock PSA boss Carlos Tavares takes only a few minutes to outline the public to sketch his coupuntil he hands the… Continue reading Tavares sets Opel employees gallows period