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
Tag: Electric vehicles
LeEco’s EV Unit Le Supercar Names New CEO As Co-Founder Ding Lei Steps Down
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
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
EV Charging Station Firm Chargerlink Secures $20M Venture Funding
Chargerlink, a Shenzhen-based start-up focused on providing charging station solutions for the electric vehicles (EV) sector, has secured US$20 million series A round, the largest venture funding in the EV services market in China. According to Chinese media reports, four Chinese investors participated in the round, which will be used to expand the company’s business.… Continue reading EV Charging Station Firm Chargerlink Secures $20M Venture Funding
China Plans Ambitious Expansion Of EV Charging Pole Network
Forty-eight major Chinese cities are planning ambitious expansion plans to increase the total number of electric vehicle charging stations to 1,549, and the number of charging poles to 238,559 by 2015. That compare with a total of 307 charging stations and 16,947 charging poles in these 48 cities as of October 2013, according to Chinese… Continue reading China Plans Ambitious Expansion Of EV Charging Pole Network
China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
Shenzhen-listed mini-pumps and garden machines maker Leo Group Co., Ltd. has agreed to join seven other investors to inject RMB780 million (US$121 million) in a smart electric vehicle start-up established by Li Xiang, the founder of New York-listed Autohome Inc. In a securities filing (in Chinese), Leo Group says it will invest RMB350 million to… Continue reading China’s Leo Group Joins $121M Capital Injection In Electric Vehicle Start-Up
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
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