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
Tag: People
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
Tencent Leads $600 Million Series A Financing Round In Mobile
Chinese bike rental firm Mobike has raised over US$600 million in a series E financing round led by Tencent Holdings Ltd., the largest financing round to date in the bike sharing space, the firm announced today. It brings the company’s total fundraising this year to nearly US$1 billion. The round was joined by existing investors… Continue reading Tencent Leads $600 Million Series A Financing Round In Mobile
Tencent Buys 5% Of Tesla In Deal With Potential Synergy Between Two Tech Giants
Chinese tech giant Tencent Holdings Ltd. has bought a 5% stake in U.S. electric vehicle maker and renewable energy firm Tesla for US$1.78 billion. This is a deal that gives investors much to anticipate as the two could potentially partner in many areas. The combination is welcomed by investors, as Tesla’s shares were up 6.54%… Continue reading Tencent Buys 5% Of Tesla In Deal With Potential Synergy Between Two Tech Giants
Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
Chinese smartphone maker OPPO Electronics Corp. and investment firm Huiyou Capital have led a RMB150 million (US$22 million) funding round in Ponycar, a Shenzhen-based electric vehicle sharing start-up, with participation from Shenzhen-based investment bank China Peakedness. Founded in 2016, Ponycar provides hourly electric vehicle rental services allowing customers to use a mobile app to find… Continue reading Chinese Phone Maker OPPO Co-Leads $22M Round In EV Sharing Firm Ponycar
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
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
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
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
Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech
Beijing-based bike sharing firm ofo has formed a partnership with China Telecommunications and Huawei Technologies Co. Ltd. to improve technology related to smart bikes, which has swept across the nation by storm lately. China Telecom will provide nationwide wireless Internet coverage for ofo, while Huawei will equip ofo bikes NB-IoT (narrow band Internet of Things)… Continue reading Ofo Partners With China Telecom, Huawei To Improve Smart Bike Tech