Chinese EV upstart Xpeng Motors announced on November 13 the signing of a Series C capital funding of $400 million from a group of strategic and institutional investors.
Tao Lin spoke at a press conference in anticipation of the upcoming 2019 Shanghai City Promotion Conference, underscoring the importance of Shanghai in the successful development of Tesla’s gigafactory.
On October 14, reporters from Chinese media 21Tech met with the new global CEO, Carsten Breitfeld, in FF’s Beijing office to discuss his vision for the company and Jia Yueting’s bankruptcy announcement.
Faraday Future announced that in order to solve the problem of personal debt, the founder and CPUO of the company, Jia Yuetin, applied for personal bankruptcy restructuring (Chapter 11) in the United States.
Chinese electric vehicle (EV) maker Singulato Motors received a capital injection from Japan’s Itochu Corp amounting to nearly $100 million on October 12, according to Reuters.
On October 11, an insider close to Faraday Future founder Jia Yueting’s creditors revealed that they had received documents indicating that Jia was looking to file for bankruptcy in the United States.
The New Energy Auto Show slated to be held in Shanghai from October 30 to November 1 was suddenly postponed as Chinese media confirmed on October 10.
NIO shares surged as much as 12% on October 8 after the Chinese electric vehicle maker delivered 4,799 vehicles in the third quarter, up 35.1% from the second quarter, exceeding expectations by a large margin.
NIO rescheduled its conference call for the second quarter (Q2) of 2019 on September 25, clarifying that the company only lost 22 billion yuan ($3.1 billion) instead of the rumored $5 billion.
The China-based EV startup Byton unveiled the final design for its first vehicle, the M-Byte, this week at the Frankfurt Motor Show.
Chinese electric vehicle manufacturer NIO launched a paid membership service on September 5.
Tesla announced on July 25 that the production of its Model 3 electric vehicles will start in the Shanghai Gigafactory by the end of the year.
Tesla confirmed on June 28 that the self-combustion of a Tesla in April was due to one battery unit’s malfunction, rather than any system defects.
A new kind of vehicle that doesn’t require drivers seems to be just around the corner. Tech giants, startups, car makers, and ride-hailing firms are now racing to get the autonomous vehicles (AVs) on public roads.
The Chinese automobile company Geely Holding Group (Geely) and the German Daimler AG (Daimler) announced on Mar. 28 the formation of a 50-50 global joint venture to develop and operate smart brand.