Deals

Nio is expected to receive a small batch of 150-kWh semi-solid-state batteries from WeLion in September and start using them in the fourth quarter, according to a previous media report.

The joint venture aims to create a new energy truck ecosystem to help cities' electrification transition, CATL said.

The latest financing brings Sunwoda EVB's valuation to about RMB 30 billion and takes it one step closer to a spin-off IPO.

Nio will collaborate with its partner to build charging stations and battery swap stations on major highways and high-traffic service areas in Henan.

Tencent is the largest institutional shareholder of Nio, and its holding subsidiary Tencent Music entered into a partnership with Dolby Laboratories last month.

CATL has supplied Yutong with a cumulative total of 19 GWh of power batteries used in nearly 150,000 new energy buses.

In late July, two Chinese companies just made announcements that they will supply Tesla with ternary precursors for battery materials.

On July 18, Stellantis and GAC announced that they will terminate the joint venture GAC-Stellantis.

CATL will provide LFP battery packs for the Ford Mustang Mach-E sold in North America starting next year and for the F-150 Lightning starting in 2024.

The vehicles will first be put into operation this summer in seven cities - Guangzhou, Shenzhen, Tianjin, Hangzhou, Zhengzhou, Haikou and Sanya.