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?
Tag: Electric vehicles
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
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 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
China Harmony New Energy Auto’s After-Sales Unit Raises $41M
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
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
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
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