Fund Raising

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

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.

Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.

Nio has acquired a 19.9 percent stake in Neo Fusion and Nio Capital has acquired a 10.1 percent stake.

Smart delivered 4,390 vehicles in China in April, down 25.73 percent from 5,911 units in March.

Qingchun was founded in March 2021, and the core team members have been involved in SiC semiconductor technology for over 20 years, according to Nio Capital.

Enovate has already owed its employees two months of salary arrears and its factory in Changsha, Hunan province, has shut down production this year, according to local media.

Standard Robots aims to use driverless, robotics and artificial intelligence technologies to create efficient and flexible logistics solutions to help manufacturing companies improve productivity.

Newrizon was founded in September 2020 by former Nio senior vice president Huang Chendong.

Zeekr filed a draft registration statement for a potential IPO with the SEC on December 7 on a confidential basis.