Hong Kong-listed China Harmony New Energy Auto Holding Ltd. has completed a spin-off of an after-sales unit, which has reached agreements to received RMB280 million (US$41 million) from a few strategic investors, according to a disclosure filing. Automobile industry-focused investment firm Leaguer Auto and Aotuo Investment have agreed to invest in Independent Aftersales Company, an… Continue reading China Harmony New Energy Auto’s After-Sales Unit Raises $41M
Tag: Mobility
Global Smart Transport Market To Expand 50 Times To Reach $1.5 Trillion By 2030
The future mobility market, those providing self-driving smart electric vehicles and shared mobility, is likely to expand 50 times to reach US$1.5 trillion in market size by 2030, compared to today’s US$30 billion. Investors could benefit from companies in the electrification, autonomous driving, Internet of Cars (IoC) and shared mobility categories, according to a BofA… Continue reading Global Smart Transport Market To Expand 50 Times To Reach $1.5 Trillion By 2030
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
China’s BAIC Group Launches EV Battery-Swap Station Network In Beijing
A new energy subsidiary of Beijing Automotive Group (BAIC Group) has delivered the first few battery-switch stations for EV taxi in Beijing, as China continues to fight against severe pollution in the country. The stations form the largest network in the world for electric taxi battery charging and swapping, BAIC BJEV said in a statement.… Continue reading China’s BAIC Group Launches EV Battery-Swap Station Network In Beijing
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
Tencent, Baidu Lead $600M Round In Chinese Electric Vehicle Maker NIO
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
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
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
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 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