Xpeng sets up new firm in Hainan with business scope including AI software development
Xpeng fell more than 8 percent to HK$152.4 at press time amid a widespread sell-off in Hong Kong stocks. Hong Kong's Hang Seng Index fell 3.5 percent, while the Hang Seng Technology Index dropped 6 percent.
Chinese auto chip maker SemiDrive raises $154 million in Series B funding
SemiDrive develops high-performance automotive-grade chips covering smart cockpits, central gateways, autonomous driving, and highly reliable MCUs. It closed an RMB 500 million Series A investment in May 2020.
Chinese AI firm SenseTime says it has solved nighttime smart driving challenges
Chinese AI company SenseTime recently said that its smart car solution brand SenseAuto has solved the challenges facing smart driving at night, "making the night less dark."
Xpeng, Nio are top NEV firms with highest number of fundings in past 10 years, report says
From 2011 to the first half of 2021, Xpeng's number of financing reached 14, ranking first in Qichacha's top 10 list of new energy vehicle financing in the last decade.
Volkswagen expects its EV sales in China to soar in H2
Volkswagen expects its ID series of electric cars to see a sales surge in China in the second half of this year, Reuters reported on Thursday, citing Volkswagen Group CEO Herbert Diess.
Self-driving startup CalmCar closes $150 million Series C funding round
CalmCar, a Chinese startup self-driving technology provider, announced on July 22 that it closed a Series C round of funding of approximately $150 million and plans to launch an IPO in 2022.
Appliance maker Skyworth's first model to go on sale July 27
Chinese appliance maker Skyworth announced on Thursday that its first model, the midsize SUV Skyworth ET5, will go on sale on July 27.
Faraday Future goes public in US, aims to disrupt Ferrari, Bentley
Before FF began trading on Thursday, Jia laid out the company's two-phase goal, saying the first phase is to achieve disruption of traditional ultra-luxury car brands such as Maybach, Ferrari and Bentley with the FF 91.
China's hottest-selling electric car has a new rival
Electric vehicle brand Letin announced Thursday that its first all-electric mini car will go on sale on July 30, with a price range of RMB 29,800 ($4,600) to RMB 54,900.
China's auto sales poised to grow this year, reversing three straight years of decline, official says
China's auto sales are expected to grow this year, reversing three consecutive years of decline, Zhu Xiaoliang, an official with the Ministry of Commerce, said at a news conference Thursday.