Fund Raising
Neta announces closing of nearly $1 billion in new financing
Neta has announced the closing of a RMB 7 billion Crossover round of financing, without revealing any other details about the funding.
Evergrande NEV, mired in losses, announces $500 million investment from Middle Eastern investor
NWTN will get a 27.5 percent stake in Evergrande NEV and the right to nominate a majority of the board of directors, valuing the Chinese carmaker at $1.82 billion.
Italian powertrain maker Mavel gets investment from Nio Capital, to be supplier of Nio's next-gen models
Mavel, founded in Italy in 1999, will be a supplier of core components for Nio's next-generation platform, Nio Capital said.
Self-driving startup HoloMatic closes $140 million Series C funding round
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 to split EV battery unit for separate listing in Shenzhen
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.
Solid-state battery startup Talent New Energy closes new funding, has over 10 GWh of capacity planned
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.
Chinese lithium giant Tianqi leads Series A funding in Mercedes-Geely JV Smart with $150 million
Tianqi has acquired a 2.83 percent stake in Smart, giving the Mercedes-Geely JV a valuation of $5.3 billion.
Nio secures $1.1 billion investment from Abu Dhabi fund
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 secures $2.1 billion in credit lines from 6 local banks
Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.
Nio invests in nuclear fusion startup Neo Fusion
Nio has acquired a 19.9 percent stake in Neo Fusion and Nio Capital has acquired a 10.1 percent stake.