Phate Zhang

The fund's size is unknown, but it is much larger than Nio's venture capital arm, Nio Capital, the report said.

Li Auto said Wednesday it will push the latest version 2.2 OTA update to all Li ONE vehicles, the company's only model, by September 15.

The project will be based on Sinopec's in-house developed technology and will be put into operation in the first quarter of next year.

The two sides had an in-depth exchange of views on cooperation in the fields of vehicle networking and intelligent driving.

Intel will launch a self-driving ride-hailing robotaxi service test in Munich next year, with plans to roll it out across Germany and eventually Europe in the next few years.

The company plans to use the net proceeds from the offering to further strengthen its balance sheet, as well as for general corporate purposes, Nio said.

August retail sales of luxury cars in China were 278,000, down 9.4 percent year-on-year, according to a recent report by the China Automobile Dealers Association.

Nio and Sinopec will soon partner to build the first local battery swap station in a highway service area in Guangxi, and will build a new battery swap station in another local city, Guilin.

This is the first local equity financing in China's ride-hailing industry in 2021, and is an ice-breaker after the crackdown on Didi Chuxing.

FAW-Audi is currently producing for several days and then taking several days off because of a severe chip shortage, with the A6L production scheduled for just one day in September, cls.cn said Tuesday.