Nio will burn another 14 billion yuan before break even in 2023, report says
Considering that Nio is carrying $1.5 billion in debt and that its free cash flow for fiscal 2019 is expected to be negative $1.4 billion (about 9.8 billion yuan), the recently announced new financing seems to be in vain, according to Bloomberg.
Toyota and FAW plan to build electric vehicle plant in Tianjin
Japanese automaker Toyota and its partner FAW Group plan to build a new electric vehicle plant in Tianjin with a planned investment of about 8.5 billion yuan (about $1.22 billion), according to Reuters.
Nio's funding woes reflect challenges faced by Chinese EV startups
At a time when many people thought that Nio had run out of life, a "knight in white" gave a helping hand when Nio was most difficult.
Tesla faces challenges to deliver 500,000 cars this year
The spread of the epidemic around the world will tighten the supply chain of car companies, and whether this will affect the production capacity of Tesla's US plants has attracted much attention.
BYD Han EV boasts 0-60 MPH in less than 4 seconds
Han EV, BYD's medium- and large-sized sedan, uses its self-developed "high-performance silicon carbide MOSFET motor control module" for the first time that can accelerate the car from 0 to 100 kilometers (0-60 miles) in less than 4 seconds, the company said.
Meet Nio EC6: SUV with over 600 km rang, 0-60 in 4.7 seconds
At the Nio Day 2019 held in Shenzhen last year, Nio released its third model, the Nio EC6, which is positioned as a smart electric coupe SUV with a long cruising range of up to 615km.
Huawei's Harmony OS is going to land on Chery's new car
Xu Zhijun, Huawei's rotating chairman, said many times last year that Huawei does not build cars but helps others build cars. Now information that seems to be accidentally published showed Huawei's Harmony OS is about to be used in cars.
Apple drastically reduced self-driving car tests in 2019
In 2019, Apple significantly reduced its self-driving car testing activities, with its fleet driving less than one tenth of 2018, according to Apple Insider.
BMW i3 2020 goes on sale in China, price down by 34,000 yuan
The 2020 model of BMW's first new pure electric i3 was launched in China recently, with a price tag of 305,800 yuan ($43574).
More Tesla Model Y customers get March confirmation emails
Tesla recently sent a long-range all-wheel drive (Long Range AWD) Model Y subscribers a confirmation receipt, saying that they would deliver their long-awaited electric crossovers in March, according to Teslarati.
