Industry News
Voyah secures $2.1 billion in credit lines from 6 local banks
Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.
US EV startup Fisker plans to open delivery center in China this year
"I believe we can get production up and running in China as early as next year, potentially adding capacity of 75,000 Fisker Oceans annually," Fisker CEO said.
Saudi Arabia signs $5.6 billion deal with Chinese EV maker Human Horizons
The deal accounts for over half of the more than $10 billion in investments signed on the first day of the Arab-China business conference in Riyadh on Sunday.
China NEV sales up 12.74% MoM to 717,000 in May, CAAM data show
China's auto industry still needs to further recover and expand demand, and the release of consumption potential needs to be accelerated, the CAAM said.
Ford scaling back ambitions for Mustang Mach-E in China amid poor sales
The Mustang Mach-E team will be integrated back into Ford China and the separate entity running the project will be written off in the future, according to local media.
China contributes 56% of global EV sales in Q1, Counterpoint says
The US overtook Germany as the world's second-largest EV market in the first quarter, while China remained in the lead, Counterpoint said.
China NEV retail up 10.5% MoM to 580,000 in May, CPCA data show
NEV penetration at retail in China was 33.3 percent in May, up 6.7 percentage points from 26.6 percent a year earlier and up from 32.3 percent in April.
Lucid prepares for China entry, hires ex-Nio, Ford exec Zhu Jiang
Zhu Jiang, a former executive at Nio, Ford and Jidu Auto, has joined Lucid to head up its China operations, and he said Lucid is starting to prepare for its entry into the country.
China NEV retail up 6% MoM to 557,000 in May, preliminary CPCA data show
The preliminary figure was below the CPCA's previous estimate of around 580,000 units, suggesting that the market performed below expectations in the last week of May.
China's NEV ownership exceeds 15 million
As of June 4, China's NEV ownership had exceeded 15 million units, achieving the goal of its 14th five-year plan ahead of schedule, an academician said.