Chinese electric vehicle company FDG Electric Vehicles Ltd. has named Tong Zhiyuan, formerly the chief executive officer of Volvo Car Corporation China District, as its chief operating officer and executive director, effective immediately. Tong will act as the head of FDG’s electric vehicle division, and will oversee daily operation and management, research and development at… Continue reading China’s FDG Electric Vehicle Hires Former Volvo China Head As COO
Tag: Manufacturing
China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
Shenzhen-listed mini-pumps and garden machines maker Leo Group Co., Ltd. has agreed to join seven other investors to inject RMB780 million (US$121 million) in a smart electric vehicle start-up established by Li Xiang, the founder of New York-listed Autohome Inc. In a securities filing (in Chinese), Leo Group says it will invest RMB350 million to… Continue reading China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
Chinese Provinces Race For Lead In Electric Vehicle Innovation
Provinces across China are vying to attract electric vehicle companies and projects, positioning themselves to benefit most as China aspires to become a world leader in electric vehicle innovation. The latest region to score big is the Guian New Area, a 1,795 square kilometer economic zone located near Guiyang city in sleepy Guizhou province. China’s… Continue reading Chinese Provinces Race For Lead In Electric Vehicle Innovation
GO Scale Capital Teams Up With SPI Energy To Invest In EV Battery Projects
GO Scale Capital, an investment fund sponsored by China-focused GSR Ventures and U.S. venture capital firm Oak Investment Partners, plans to partner with Chinese solar firm SPI Energy Co., Ltd. to back electric vehicle battery projects, says a company announcement. The two parties have signed a non-binding framework agreement, in which SPI Energy will issue… Continue reading GO Scale Capital Teams Up With SPI Energy To Invest In EV Battery Projects
Sequoia, Joy Capital Joins $500M Round In NextEV
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
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
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
Temasek Leads New Funding Round In Chinese Start-Up NextEV
NextEV has reportedly raised an undisclosed funding round led by Singapore’s Temasek Holdings, with participation from global private equity giant TPG, Chinese investment firm Hopu Investment Management and China’s Lenovo Group, according to Chinese media reports. The round is around several hundreds of millions U.S. dollars, says the reports citing confirmation by the company’s president… Continue reading Temasek Leads New Funding Round In Chinese Start-Up NextEV
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
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