Media were impressed with the 80-million-yuan lavish launch event for the ES8 in Wukesong Venue. There is no doubt NIO raised more investment and spent more money than any other automotive start-up in China. Since its establishment, NIO has raised more than US $2 billion.
XPENG has finished its A+ round financing and plans to announce B round financing in early 2018, XPENG Motors Chairman He Xiaopeng said in a Weibo post on December 15. Investment in this round of financing came from Xiaomi, Foxconn and IDG.
Mobike is declaring war on illegal ads. Mobike sued Shanghai Huijia Information Technology in Shanghai Pudong District People's Court on December 14. Mobike demanded the defendant immediately stop attaching illegal ads to Mobike bikes, and to compensate for its infringement and to publicly issue a statement to eliminate the bad effect.
Over the past year, the percentage of people traveling China's major cities by bicycle has risen from 5.5 percent to 11.6 percent.
This morning, XPENG chairman He Xiaopeng drove the first XPENG car with a Beijing license place onto the streets near the National Convention Center.
Mobike rejected a November report that it and its competitor ofo had run into liquidity problems and started using users’ deposited funds to support their expansion. Mobike holds approximately 6 billion yuan in deposited funds. Mobike and ofo also reportedly stoped paying their debts to bicycle factories and PR companies.
Wang Xiaofeng, co-founder and CEO of Mobike, delivered a speech themed The Internationalization of Chinese Enterprises at The Year Ahead summit, hosted by Bloomberg Businessweek in cooperation with Sina Weibo. He spoke about internationalization and Mobike's ideas, and rejected ideas about a merger.
Mobvoi released its portable smart speaker box, TicHome Mini, for Chinese users. The TicHome Mini will be priced 499 yuan, and the Taobao crowdfunding price will be 399 yuan.
Mobike launched Mobike New Lite, its latest model of bicycle, on September 22. After a two-month wait, the new models were finally available in Shenzhen's Futian District, the company announced. The other districts will follow in the coming weeks.
On November 15, Bike sharing company Bluegogo employees posted on a professional social platform that Bluegogo had been disbanded, and it will continue to default on employee salaries until February 10, 2018.
Nuts Pro 2 (4G memory + 32G flash memory) sold from 1799 RMB, up to 3299 RMB for highest configuration (6G memory + 256 flash memory)
2017 was supposed to be the year China’s domestic smart speaker market broke out. Alibaba, Xiaomi, JD.com, Rokid, Mobvoi and Himalayas all launched intelligent speakers. But with Xiaomi flooding the market with its 299 yuan AI speakers and Alibaba and JD.com competing on price, the domestic smart speaker market does not look optimistic.
Xiaozhu announced it raised $120 million during its E-round financing on November 1. YF Capital led the round, and existing shareholders, such as JOY Capital, Morningside Venture Capital and Capital Today, increased their stake. TH Capital is Xiaozhu’s only financial adviser.
An unmanned noodle restaurant that promises hot bowls of noodles without staff assistance in less than one minute was this week's hot business topic.
Car-sharing Platform TOGO Received USD 22 Million in B Round Financing with SIG as Keading Investor and Zhen Fund as Following Investor