German automaker BMW is increasing its battery production capacity in China to meet the growing demand for its partial and fully-electric vehicles, as the automaker gears up to build new fully electric models. The BMW Brilliance Automotive (BBA) joint venture has expanded its battery factory in Tiexi with the establishment of a new “High-Voltage Battery Center.”
Eric Walz2020-09-14 12:20 PT
Electric automaker Tesla is planning to export Model 3 sedans built at its Shanghai factory to Asia and Europe, according to sources. The first China-built Model 3s for delivery outside the country likely will start mass production in the fourth quarter, Bloomberg reports.
FutureCar Staff 2020-09-11 15:15 PT
U.S. electric automaker Tesla is expected to have impressive sales numbers for the rest of the year in China, according to China’s Passenger Car Association (CPCA), which tracks sales in the world’s biggest auto market. Tesla sales for 2020 are estimated to be 100,000+ vehicles, despite the effect of the pandemic earlier this year which led to the shut down of most of China’s auto production and sales.
FutureCar Staff 2020-08-12 19:30 PT
Electric automaker Xpeng Motors is planning to list its shares on the New York Stock Exchange (NYSE), becoming the latest electric vehicle company to launch an IPO in the U.S. to raise new capital to challenge Tesla. Xpeng is hoping to cash in on the current investor trend of pouring money in new electric vehicle startups.
Eric Walz2020-08-09 10:00 PT
Xpeng Motors, which is emerging as one of China's leading new electric vehicle startups, announced a new financing round equal to around US$500 million. The latest funding round follows a Series C funding round of US$400 million in Nov 2019. With its latest funding round, the electric automaker is poised to become a strong competitor to Tesla in China.
Eric Walz2020-07-20 09:00 PT
Electric vehicle startup Byton, which hoped to bring its futuristic M-Byte SUV to the market by this year, announced that it is suspending its operations for the next 6 months, beginning on July 1. Byton is suspending operations to review its business operations amid China’s cooling auto market. However, sources inside and outside of the company said that the chances Byton will emerge from its self-imposed hiatus seems unlikely.
Eric Walz2020-06-30 13:00 PT
Electric performance car brand Polestar its expanding its retail presence in China as the company looks to compete with U.S. electric automaker Tesla in the world’s biggest auto market. Polestar plans to open around 20 “Polestar Spaces” where prospective owners can check out the company’s electric vehicles up close and in a zero pressure environment.
FutureCar Staff 2020-06-02 15:25 PT
While Tesla's new Shanghai factory gives the company a foothold in the world’s biggest auto market for the first time, Tesla is facing growing competition from a new crop of electric vehicle startups following in its footsteps and hoping to grab a piece of China’s growing EV market.
Manish Kharinta2020-05-12 19:00 PT
Tesla has suspended production in China, according to Chinese tech news site 36kr. The company’s Shanghai factory is currently building the Model 3 sedan for the Chinese market and is Tesla's only overseas factory.
FutureCar Staff 2020-05-07 08:25 PT
Tesla announced it is lowering the price of its China-made Model 3 sedan by 10% in order to qualify for revised government subsidies for electric vehicles in China.
Eric Walz2020-05-01 11:30 PT
Electric vehicle startup NIO, one of China’s most promising new EV startups, received a 7 billion yuan (US$1 billion) strategic investment that will help the company to continue its operations. NIO is considered by many as the "Tesla of China." However the company was running dangerously low on cash as China's automakers deal with fallout of the coronavirus pandemic, declining new car sales and the loss of generous government subsidies to build electric vehicles.
Eric Walz2020-04-29 11:05 PT
While an impressive figure, that figure doesn't translate over to the same amount in the U.S., but could point toward future improvements.
Vineeth Joel Patel2020-04-11 08:00 PT
Electric automaker Tesla just had its best sales month ever in China despite the coronavirus pandemic which caused a big drop in new vehicle sales in China. The California automaker sold 10,160 vehicles in China in March, the China Passenger Car Association (CPCA) said on Thursday.
Eric Walz2020-04-09 13:30 PT
Toyota Motor Corp announced today that if officially launched its new joint venture company with Chinese automaker BYD. The new company will focus on the research and development of battery electric vehicles (BEVs) in China, the world’s biggest auto market.
Eric Walz2020-04-02 11:45 PT
Polestar announced today that production of the Polestar 2 is underway in Luqiao, China. Polestar is the new electric performance car brand jointly owned by Volvo Car Group and Chinese automaker Zhejiang Geely Holding (Geely). The company is operated by Sweden-based Volvo Cars as a standalone performance EV brand.
Eric Walz2020-03-24 15:00 PT
Chinese electric vehicle startup Xpeng Motors announced today that it was granted permission from the National Highway Traffic Safety Administration (NHTSA) to test its new P7 fully-electric sedan on public roads in the U.S.
Eric Walz2020-03-17 10:50 PT
The shuttering of manufacturing facilities the furlough of employees due to the Coronavirus is having a ripple effect in the global auto industry. The shutdown in China is disrupting the supply chains of automakers in the U.S., Mexico and Europe that rely upon a steady shipment of auto parts from Chinese suppliers.
FutureCar Staff 2020-03-11 11:55 PT
Chinese electric vehicle startup NIO announced it will issue and sell convertible notes in an aggregate principal amount of US$235 million to several unaffiliated Asia-based investment funds through private placements. Earlier this year, the automaker warned that it would need additional capital to make its through 2020.
Eric Walz2020-03-06 14:15 PT
According to research by BloombergNEF, European automakers and governments will move toward helping curb global warming with stricter carbon emissions regulations, which could force an electric-vehicle revolution.
Vineeth Joel Patel2020-01-27 10:00 PT
Tesla announced in a post on its official Chinese Weibo account that it will use Baidu’s mapping services for its vehicles in China. The company said that its map data service provider will be replaced by Baidu so Tesla owners can have a “better driving experience on the road.”
Eric Walz2020-01-21 14:30 PT
Eric WalzSep 22, 2020 11:45 AM PT
Manish KharintaSep 22, 2020 8:00 AM PT
FutureCar Staff Sep 21, 2020 12:05 PM PT
Vineeth Joel PatelSep 21, 2020 8:15 AM PT