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.
The shares of the Chinese EV-maker NIO soared nearly 38% on November 5 after the company announced a deal with Intel’s Mobileye on developing self-driving vehicle systems.
The share price of Chinese EV startup NIO fell by 5.8% to $1.46 on October 16, which marks the largest decline in the past six days.
An electric car from Chinese EV-maker Weltmeister Motor (WM Motor) caught fire on the road in Wenzhou, a city in eastern China, on September 23, WM Motor confirmed on its official Weibo account.
On August 22, a number of employees from NIO, a Chinese electric vehicle company, confirmed to media that the company issued an internal letter stating that it will continue with layoffs. The letter reveals that NIO is planning to retain 7,500 people by the end of September.
On Aug. 13, Chinese EV maker NIO saw its stock close at $3.05, down 2.56%, a day before the company released its July delivery data indicating that only 837 new vehicles were delivered, slumping 37.5% from the previous month.
Groupe Renault and Jiangling Motors Corporation Group (JMCG) announced the official establishment of their joint venture on July 17. The aim is to further promote the development of the electric vehicles industry in China.
Shanghai-based electric vehicle manufacturer NIO today issued a mass recall of its ES8 models through an announcement made on its official Weibo account.