Though influenced by the COVID-19 pandemic, NIO's losses are narrowing. What's more, NIO has reached agreements with investors for investment in China.
Recently, an owner of Tesla’s upgraded Model 3 reported on Weibo that the hardware code of their car controller was inconsistent with the number on the documents of the vehicle.
As of December 31, 2019, Hillside Capital no longer holds equity in NIO. So far, 2020 has seen NIO raise $200 million in convertible bond financing.
Tesla is applying to offer a new version of their China-made Model 3, according to a document from China’s Ministry of Industry and Information Technology.
As of February 2, Tesla temporarily shut down its stores in mainland China as the novel coronavirus worsens, according to a news report by CNBC on Thursday.
On February 3, Chinese battery manufacturer CATL announced that it has signed a two year supply agreement with Tesla effective between July 1, 2020 and June 30, 2022.
Electric vehicle startup Xpeng Motors ranked first among Chinese automakers in smart & connected car technology patents in 2019 with 335 patent applications.
Hon Hai Precision Industry Co, part of Foxconn Technology Group, plans to form a joint venture with Fiat Chrysler Automobiles (FCA) to develop and produce electric vehicles in China.
Alibaba has announced a strategic partnership with FAW Group, one of China’s largest automobile companies.
For the first time since 2016, Tesla has surpassed the Chinese automaker BYD as the world's new energy vehicle sales champion, with 367,500 vehicles sold.
Faraday Future announced on January 8 that its FF91 model completed a 250-mile long-distance road test at the Consumer Electronics Show (CES), held annually in Las Vegas.
Byton Motors, a Chinese electric vehicle company, has signed a partnership agreement with SK Telecom, South Korea’s largest telecom operator.
Tesla started delivering the first Made-in-China Model 3 sedans to the general public on January 7, one-year anniversary of the company’s Gigafactory 3 in Shanghai.
The public delivery of domestically made Model 3 cars will officially begin next week.
Chinese electric vehicle manufacturer NIO (NYSE:NIO) stock soared on December 30 as the company’s Q3 performance beat expectations from last quarter.