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
Tag: Manufacturing
CITIC Securities Leads $400M Round In EV Battery Maker Microvast
CITIC Securities has led a US$400 million funding round in Microvast Power System (MPS), an electric vehicle power system solutions provider and a subsidiary of U.S. and China-based Microvast. China’s CDH Investment, National Venture Capital and other unnamed investors also participated in the round. MPS is a vertically integrated developer and manufacturer of advanced electric… Continue reading CITIC Securities Leads $400M Round In EV Battery Maker Microvast
After Three Years In China: What Are Tesla’s Hits And Misses?
After opening its first showroom in Beijing in November 2013, Tesla has been expanding in the Chinese market for three years. Its Model S and Model X are regularly seen on the streets of Beijing and Shanghai, and Tesla Supercharger stations have dotted major cities in the country. Despite falling way short of company chief… Continue reading After Three Years In China: What Are Tesla’s Hits And Misses?
Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry
Tencent Holdings Ltd. has signed a strategic partnership agreement with Guangzhou Automobile Group Co., Ltd. to discuss possible cooperation in automobile e-commerce, automobile insurance and new energy vehicles, according to a statement issued by Guangzhou Automobile Group. The agreement with Guangzhou Automobile Group, whose shares traded on Hong Kong and Shanghai stock exchanges soared on… Continue reading Tencent Partners With Guangzhou Automobile Group To Break Into Automotive Industry
Zhongding To Invest $200M In EcoMotors
Allen Park, Michigan-based next generation internal combustion engine maker EcoMotors has secured an undisclosed series D round of financing led by Chinese auto parts maker Anhui Zhongding Holding (Group) Co., Ltd., says a company announcement. Even though the total amount of EcoMotors’ funding round is not disclosed, the company says that Zhongding has agreed to… Continue reading Zhongding To Invest $200M In EcoMotors
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
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
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
LeEco, Tsing Capital-Backed Lucid Motors To Unveil Electric Vehicle
Lucid Motors, a Silicon Valley-based electric vehicle start-up backed by China’s LeEco, Tsing Capital and other investors, plans to reveal a production version of an electric sedan in the U.S. today. The company is accepting orders for the sedan and is slated to begin assembly in late 2018. Lucid will offer its sedan first in… Continue reading LeEco, Tsing Capital-Backed Lucid Motors To Unveil Electric Vehicle
China Dynamics, Tak Cheung Yam Join Series A Round In Rimac Automobili
Croatian high-performance electric vehicle developer Rimac Automobili says it has completed €10 million (US$12.3 million) series A financing from three investors including Hong Kong-listed Chinese electric vehicle and battery maker China Dynamics (Holdings) Limited, according to a company announcement. The other two investors are the CEO and chairman of oil and gas company Petrotesting Colombia,… Continue reading China Dynamics, Tak Cheung Yam Join Series A Round In Rimac Automobili