Deals

Last week, William Li accompanied several foreigners on a tour of a battery swap station, sparking a new round of rumors that Nio and Mercedes-Benz had entered into a partnership.

Through Volkswagen's partnership with Xpeng and Audi's with SAIC, Volkswagen is strengthening its position in the Chinese auto market, the German auto giant said.

Xpeng and Volkswagen will initially co-develop two B-segment BEVs sold under the Volkswagen brand in the Chinese market using Xpeng's G9 platform and ADAS software, with production expected to begin in 2026.

HoloMatic expects its losses to narrow dramatically by 2024 and to break even by 2025, when it will apply for a stock market listing.

Sunwoda's power battery installations in China amounted to 0.73 GWh in June, placing it at No. 6 with a 2.21 percent share.

Talent's second phase of a 2 GWh/year plant in Chongqing is expected to be completed by the end of 2023, and a 10 GWh/year industrial park project in Anhui is under construction.

Tianqi has acquired a 2.83 percent stake in Smart, giving the Mercedes-Geely JV a valuation of $5.3 billion.

Nio and the CYVN entities will work together on strategic collaborations in international business and technology partnerships, the EV maker said.

The partnership, which went from discussion to agreement in just three weeks, demonstrates Abu Dhabi's commitment to investing in technology innovation and clean energy transformation, Nio said.

The investment will further strengthen Nio's balance sheet to power its continuous endeavors in accelerating business growth, driving technological innovations and building long-term competitiveness, said William Li.