Follow
Subscribe
China’s Tesla Challenger Xpeng Inc. Reports Record Q4 Sales and Monthly Deliveries for December

China’s Tesla Challenger Xpeng Inc. Reports Record Q4 Sales and Monthly Deliveries for December

Chinese electric vehicle startup and Tesla challenger Xpeng Inc. (Xpeng) reported record sales for the month of December and record fourth quarter sales to close out 2020. Xpeng said it achieved a record monthly delivery of 5,700 vehicles in December, including 3,691 units of the company’s new flagship P7 Smart Sedan. The record sales represent a 326% increase year-over-year and a 35% increase from November.

Eric Walz2021-01-04 10:15 PT

Chinese EV Startup NIO to Unveil its First Electric Sedan on Jan 9, New Competition for the Tesla Model 3

Chinese EV Startup NIO to Unveil its First Electric Sedan on Jan 9, New Competition for the Tesla Model 3

Chinese electric vehicle startup and Tesla challenger NIO will reveal its first sedan next month. Nio’s new ET7 sedan will make its debut at the upcoming NIO Day event on Jan. 9, 2021, according to Qin Lihong, co-founder and president of Nio. The upcoming sedan is based on a concept vehicle that Nio unveiled at Auto China 2019.

Eric Walz2020-12-24 11:30 PT

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

China’s Newest New Energy Vehicle 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 Walz2020-12-18 12:50 PT

U.S.-listed Electric Vehicle Startup NIO Inc. to Offer 60 Million American Depositary Shares

U.S.-listed Electric Vehicle Startup NIO Inc. to Offer 60 Million American Depositary Shares

​Chinese electric vehicle startup NIO Inc. plans to issue another 60 million American depositary shares (ADSs). Each ADS represents one Class A ordinary share. The company intends to grant the underwriters in the ADS offering a 30-day option to purchase up to an additional 9 million ADSs. The company's share are listed on the NYSE under the symbol "NIO".

FutureCar Staff 2020-12-11 15:00 PT

Electric Vehicle Startup Xpeng Motors Plans to Sell Another 40 Million American Depositary Shares as Investor Interest Remains High

Electric Vehicle Startup Xpeng Motors Plans to Sell Another 40 Million American Depositary Shares as Investor Interest Remains High

Chinese electric vehicle startup Xpeng Motors plans to sell another 40 million American Depositary Shares (ADS) to the public, which represent 80 million Class A ordinary shares. The offering comes as companies developing electric vehicles and other related technology continue to be hot stocks for investors. Xpeng launched its U.S. IPO in August. The company’s shares are listed on the NYSE under the stock symbol "XPEV”.

FutureCar Staff 2020-12-08 17:30 PT

BMW is Exporting its China-Made iX3 Electric SUV to 39 Countries

BMW is Exporting its China-Made iX3 Electric SUV to 39 Countries

German automaker BMW is now exporting its China-built iX3 electric SUV to countries around the world. The iX3 is being built by Brilliance BMW, the automaker’s joint venture with Chinese vehicle manufacturer Brilliance Auto, which was launched in March 2003. The first China-made iX3s were shipped on Nov. 11 from the Port of Dalian to 39 countries and districts, most of which are in Europe.

FutureCar Staff 2020-11-13 12:55 PT

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

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 Walz2020-10-19 16:30 PT

Chinese EV Startup WM Motor Raises $1.5 Billion in its Latest Series D Funding Round

Chinese EV Startup WM Motor Raises $1.5 Billion in its Latest Series D Funding Round

Backed by strong government support and inspired by the success of U.S. electric automaker Tesla in China, a new crop of well-funded EV startups is emerging. The latest well-funded Tesla challenger in China is EV startup WM Motor. The automaker announced on Tuesday the completion of its Series D round financing, which raised 10 billion yuan, the highest amount ever for a single round of fundraising launched by a Chinese EV startup.

Eric Walz2020-09-22 11:45 PT

China’s Electric Vehicle Startup NIO Takes Advantage of EV Market Upswing With New U.S. Share Sale

China’s Electric Vehicle Startup NIO Takes Advantage of EV Market Upswing With New U.S. Share Sale

China's electric vehicle maker and Tesla rival NIO is offering is 75 million American depositary shares (ADSs) with each one equal to one Class A ordinary share. The decision to present the share offering comes amid a resurgence in the electric vehicle industry led by Tesla.

FutureCar Staff 2020-08-28 12:25 PT

Beijing-based Automaker Li Auto Raises $1.47 Billion in its U.S. IPO, Stock Soars Over 43%

Beijing-based Automaker Li Auto Raises $1.47 Billion in its U.S. IPO, Stock Soars Over 43%

Beijing-based automaker Li Auto launched its U.S. initial public offering (IPO), becoming the latest automaker from China to launch a U.S. IPO on the NASDAQ to raise new funding. The Beijing-based automaker sold 95 million American depositary shares (ADSs) for $11.50 on the Nasdaq Global Select Market on Wednesday after marketing them between $8 to $10. On Thursday, Li Auto’s stock surged 42% to $16.32 a share.

Eric Walz2020-07-30 09:45 PT

Electric Brand Polestar Opening New ‘Polestar Spaces’ in China as it Prepares to Compete with Tesla

Electric Brand Polestar Opening New ‘Polestar Spaces’ in China as it Prepares to Compete with Tesla

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

Chinese Electric Vehicle Startup NIO Secures $1 Billion Investment

Chinese Electric Vehicle Startup NIO Secures $1 Billion Investment

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

EV Startup XPENG Motors Debuts its New P7 Electric Coupe at Auto Shanghai

EV Startup XPENG Motors Debuts its New P7 Electric Coupe at Auto Shanghai

Xpeng Motors is one of the many new electric vehicle startups to emerge in China in the last few years. Today at Auto Shanghai 2019, the company unveiled its latest production model, the P7 intelligent electric coupe.

Eric Walz2019-04-16 12:09 PT

Xpeng Motors Plans to Raise $2.7 Billion This Year to Take on Tesla in China

Xpeng Motors Plans to Raise $2.7 Billion This Year to Take on Tesla in China

Alibaba and Foxconn backed Xiaopeng Motors plans to raise 17 billion yuan ($2.7 billion) in funds this year as the Chinese car startup seeks to take on rivals in China—the world’s biggest market for electric vehicles.

Eric Walz2018-04-09 13:52 PT