Chinese Driverless Car Start-Up WeRide Raises $310 Million In Funding As Competition Heats Up
Chinese driverless car start-up WeRide has raised $310 million in a new round of funding as it pushes to commercialize its technology. Yutong Group, a Chinese company that manufactures commercial vehicles including electric buses, lead the funding round. A number…
Alibaba Launches Electric Car In Tie-Up With SAIC
Chinese e-commerce group Alibaba Group Holding has stepped up its involvement in China’s electric vehicle sector, launching a sedan with wireless charging under a new brand formed together with SAIC Motor, the country’s largest car company. In another sign of…
China’s EV Funding War
US electric carmaker Tesla and its smaller Chinese rivals NIO and Xpeng Motors have been on a US$12 billion capital-raising drive over the past year as their share prices have soared, competing fiercely to attract investors to help fund the…
Geely And Foxconn Form Partnership To Build Cars For Other Automakers
Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group said on Wednesday they will join hands to provide contract manufacturing for automakers. They will each hold 50% of a venture that will also provide consulting services on electric vehicle (EV)…
Chinese Electric Car Start-Up Xpeng Gets $2 Billion In Credit From State-Owned Banks
China’s state-owned banks are stepping up their support for some electric car companies in the country. Alibaba-backed Xpeng announced it secured a credit line of 12.8 billion yuan ($1.98 billion) from major Chinese financial institutions — including three of the…
NIO Partners With NVIDIA To Develop A New Generation Of Automated Driving Electric Vehicles
NIO, a pioneer in China’s premium smart electric vehicle market, and NVIDIA announced today that the automaker has selected the NVIDIA DRIVE Orin™ system-on-a-chip (SoC) for its new generation of electric vehicles, which will offer advanced automated driving capabilities. NIO…
Warren Buffett-Backed Chinese Electric Car Company Outsells Its Start-Up Rivals
Chinese automaker BYD is selling far more luxury electric sedans a month than the leading start-ups in the country, even though sales of electric passenger cars fell 11% last year. BYD, backed by American billionaire Warren Buffett, disclosed that sales…
Xpeng Partners With Livox For Lidar In 2021 Vehicles
The Guangzhou-based automaker will be the first to deploy lidar tech in a production electric vehicle. Xpeng Motors has selected Livox, a leading manufacturer of lidar equipment, to deploy its automotive-grade lidar technology in Xpeng’s 2021 production vehicles. We recently…
China’s GEM Seeks To Double Stake, Take Control Of Indonesia Nickel Project
Chinese electric vehicle battery firm GEM Co Ltd said on Monday it aims to double its stake in an Indonesian nickel project, becoming the majority investor to strengthen “strategic control” of the resources amid a nickel shortage. Under a framework…
Foxconn Seals Manufacturing Deal With Chinese EV Startup Byton
Apple Inc. supplier Foxconn Technology Group signed a strategic cooperation deal with embattled Chinese electric-vehicle startup Byton Ltd. in a transaction that could mark a large bet by the iPhone assembler on the car-making business. The companies, aided by the…
