Ding Lei, co-founder and chief executive officer of China of LeEco’s electric car affiliate Le Supercar, has left the company due to personal health issues, the executive disclosed on his Weibo account today. LeEco has appointed Zhang Hailiang, previously president and chief operating officer at Le Supercar, as the unit’s new head. It also hired… Continue reading LeEco’s EV Unit Le Supercar Names New CEO As Co-Founder Ding Lei Steps Down
Tag: Electric vehicles
China Eyes Two Million New Energy Vehicles In Annual Production By 2020
China aims to achieve annual production and sales of two million new energy vehicles by 2020, as the country ramps up efforts to expand its green energy sector and reduce dangerous levels of air pollution in its major cities. New energy cars are defined as vehicles powered by alternative sources of energy. They include hybrid,… Continue reading China Eyes Two Million New Energy Vehicles In Annual Production By 2020
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
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
Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV
Chinese Internet firm Baidu Inc. is rumored to plan to invest US$100 million in NextEV, a Chinese smart electric vehicle start-up backed by top global investors including Singapore’s Temasek Holdings, private equity giant TPG and Sequoia Capital. Baidu is to participate in NextEV’s series C financing round, according to Chinese media reports citing insiders. Some… Continue reading Baidu Rumored To Make $100M Investment In Chinese EV Start-Up NextEV