EV Startup Faraday Future Moves its Headquarters to China

​Evergrande Health Industry Group Limited, which owns a 45 percent of electric vehicle startup Faraday Future (FF), announced today that the struggling EV startup has left southern California and moved its operating headquarters to China.

FutureCar Staff 2023-01-30 00:00 PT

China to Lift the 50% Joint Venture Ownership Cap for Foreign Automakers on Jan 1, Allowing Them to Wholly Own Their Factories in the Country

Automakers looking to build and sell their vehicles in China will now be able to wholly own their operations and factories in the country, further opening up the world’s biggest auto market to foreign car makers. The previous rules required automakers like General Motors and Ford Motor Co to form joint venture partnerships with a Chinese automaker in order to build cars locally. It was intended to help China's own automakers to better compete with foreign competitors.

FutureCar Staff 2022-02-03 10:45 PT

Li Auto Takes First Place in New Vehicle Insurance Registrations for China’s EV Startups in the Month of June

New Energy Vehicle (NEV) startup Li Auto topped the list in new vehicle registrations for China’s EV startups for the month of June, according to the China Automotive Technology & Research Center. It’s the first time ever that Li Auto took the top spot for New Energy Vehicle (NEV) startups in monthly insurance volume.

Eric Walz2021-08-18 11:55 PT

U.S. Listed New Energy Vehicle Startup Li Auto Refreshes its Li ONE SUV, Expects Monthly Sales of 10,000 Vehicles by Sept

Chinese New Energy Vehicle (NEV) startup Li Auto unveiled the refreshed Li One SUV with improvements in the powertrain, driving assistance system, intelligent cockpit, and user experience. With its redesigned Li ONE, the automaker expects monthly deliveries to reach 10,000 units by September, according to Shen Yanan, President & Co-founder of Li Auto.

Eric Walz2021-07-04 12:55 PT

'New Energy Vehicle' Insurance Registrations in China Show Tesla is the Top Selling Brand Over EV Startups

For the month of February, consumers in China purchased Mandatory Liability Insurance for 18,039 China-made Tesla vehicles. Of the 18,039 Tesla vehicles registered, 13,394 were Model 3 sedans and 4,645 were Model Y crossovers. The new Tesla registrations in February are more vehicles than China’s six leading EV startups combined, including NIO, XPeng and Li Auto.

Eric Walz2021-05-05 13:25 PT

Volvo Owner Geely Plans to Launch a Premium Electric Brand to Compete with Tesla in China

Electric automaker Tesla might be facing some new competition in China, which is the world’s biggest auto market. Chinese automaker Geely, which is the parent company of Swedish automaker Volvo Cars, is planning to launch a dedicated luxury-electric brand in China. Geely’s new EV brand will help the automaker compete in the growing luxury electric vehicle segment that so far has been dominated by Tesla.

Eric Walz2021-04-25 11:15 PT

Audi to Build Electric Vehicles in China in a New Joint Venture with Automaker FAW Group

​German automaker Audi is expanding its presence in China, which is the world’s biggest auto market. Audi announced on Monday a new company with Chinese automaker FAW Group for the future production of electric vehicles in Changchun in the northeast of China. The new joint venture company is named Audi-FAW.

FutureCar Staff 2021-02-24 15:30 PT

China’s Newest New Energy Vehicle Startup Li Auto Reaches Sales of 30,000 Units This Year

China’s newest New Energy Vehicle (NEV) startup Li Auto is off to a good start in 2020. On Friday, the company announced it reached cumulative sales of 30,000 units so far this year. The 30,000 sales milestone is a first for a startup automaker in the country.

Eric Walz2021-01-24 12:50 PT

China's Newest EV Startup Li Auto Delivers 20,000 Vehicles in 10 Months

China's newest new energy vehicle producer Li Auto, which is publicly traded in the U.S., has reported brisk sales of its first vehicle, the Li ONE SUV. Li Auto is among a new crop of electric vehicle companies including Xpeng Motors and NIO Inc. that are emerging as rivals to U.S. automaker Tesla in China.

Eric Walz2020-11-25 15:30 PT

BorgWarner’s Latest Compact Electric Drive Module is Being Used by 3 'New Energy Vehicle' Manufacturers in China

Automotive supplier BorgWarner announced that it started supplying its latest electric drive module (eDM) for three new electric models in China, including the Ford Territory, AIWAYS SUV U5 and the Leading Ideal One smart electric SUV. The Michigan-based company's newest eDM is designed so China's automakers can build more affordable EVs.

Eric Walz2020-08-27 11:50 PT

Tesla Cuts the Price of its China-Made Model 3 by 10% Order to Qualify for China's Revised Subsidies for Electric Vehicles

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 Walz2020-06-07 11:30 PT

China Extends New Energy Vehicle Subsidies Through 2022

The Chinese government announced that it will extend subsidies for New Energy Vehicles (NEVs) to 2022 to help auto sales rebound after the coronavirus pandemic. NEVs include fully-electric vehicles, plug-in hybrid and hydrogen fuel cell models.

Eric Walz2020-05-31 13:45 PT

Tesla Plans to Open a Design Center in China, Sends Out a Recruitment Notice on Social Media

Electric automaker Tesla plans to open a design and research center in China to make what it called “Chinese-style” vehicles. The made the announcement in a recruitment notice on the Chinese social media platform WeChat, which is the equivalent of Twitter in China.

FutureCar Staff 2020-02-22 11:35 PT

Tesla Model 3's Built in China Will Be Eligible for New Energy Vehicle Subsidies

Tesla announced on Friday its Chinese-built Model 3 cars would receive state subsidies, a move that will help boost Tesla’s push into China, the world’s biggest market for EVs and an important market for the California-based electric automaker.

FutureCar Staff 2020-01-12 15:15 PT

BMW to Build a New Auto Plant in China with Great Wall Motor to Produce the Electric MINI

German automaker BMW and its Chinese partner Great Wall Motor said they plan to build a plant in China with a capacity of 160,000 cars per year. The new plant will produce the BMW electric MINI and Great Wall Motor models.

Eric Walz2020-01-05 10:45 PT

Toyota & BYD Establish Joint Company in China for Electric Vehicle Development

China’s BYD Company Ltd. (BYD) and Japan’s Toyota Motor Corporation announced that they have signed an agreement to establish a joint company to research and development of electric vehicles.

Eric Walz2019-12-15 11:00 PT

World's Largest EV Battery Producer CATL Expects up to 50% Growth This Year as Demand Soars

As demand for lithium-ion electric vehicle batteries increases, Chinese battery maker Contemporary Amperex Technology Limited (CATL), the world's largest automotive battery producer, announced that it expects its net profit for the first three quarters of 2019 to reach between $328 to $500 million.

Eric Walz2019-11-24 10:00 PT

Volkswagen Says 50% of China Sales will be NEVs by 2035

By 2035 half of Volkswagen’s sales in China will be new energy vehicles (NEVs), the automaker's CEO Herbert Diess told a conference in Boao, China, on Tuesday.

FutureCar Staff 2019-08-08 12:00 PT

Toyota to Sell Electric Vehicle Technology to Chinese EV Startup Singulato

Toyota Motor Corp has agreed to sell electric car technology to EV startup Singulato Motors, its first deal with a Chinese electric vehicle startup. The deal to license EV technology will allow the startup carmaker to speed up development of a lower-priced, compact electric vehicle for the China market.

FutureCar Staff 2019-05-22 13:29 PT

Evergrande Buys a Controlling Stake of NEVS, the Company that Purchased the Assets of Saab

Evergrande Health Industry Group, the Hong Kong-based real estate investment company which owned a majority stake in troubled electric vehicle startup Faraday Future, has purchased a majority stake in National Electric Vehicle Sweden (NEVS). NEVS is the company that purchased the assets of defunct Swedish automaker Saab in 2012.

FutureCar Staff 2019-02-22 17:12 PT