Deals
Farasis Energy to build new 24 GWh EV battery project in Anhui
The project will be divided into two sub-projects, with the first sub-project of 12 GWH expected to start construction in October 2021.
Li Auto establishes JV to produce range-extender for next year's model
This confirms previous rumors that Li Auto will abandon its current range-extender supplier.
Neta partners with Huawei to use its computing platform and LiDAR technology for next year's model
The Neta S, which will be launched next year, is the first model to be created by the two companies, and it will use Huawei's MDC smart driving computing platform and LiDAR technology.
Xiaomi-backed fund invests in EV battery maker Svolt Energy
Svolt Energy added several new shareholders on August 18, including Hubei Xiaomi Changjiang Industry Fund, backed by smartphone giant Xiaomi.
Nio Capital-backed digital energy solutions provider NewLink closes $300 million in new financing
Nio Capital, the venture capital business of Nio, first invested in NewLink in 2019 and has participated in a total of three of its financings.
Leapmotor announces closing of $690 million in new financing
Hangzhou government fund invested RMB 3 billion and other investors included CICC Capital, according to the announcement.
Nio signs strategic co-op deal with Shanghai's largest industrial park developer
After Tesla built a factory in Shanghai, Nio's relationship with the city, where it has its global headquarters, seemed to drift apart. But the latest move may signal that the company is upping its bets here.
Rumors say BYD will buy SAIC's passenger car business, the latter denies
SAIC was questioned how BYD's market value is close to RMB 1 trillion ($154.38 billion) while SAIC's market value is only RMB 200 billion.
Nio launches joint lab with one of China's top universities
USTC's scientific research strength in China is almost comparable to that of Tsinghua University and Peking University. It is located in Hefei, Anhui Province, which is also the headquarters of Nio China and is home to the JAC Nio factory.
EV battery maker Svolt closes new round of $1.59 billion financing
Chinese power battery maker Svolt Energy recently announced the completion of a Series B financing round totaling RMB 10.28 billion ($1.59 billion).