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This marks the first investment by a non-Chinese automotive company in a Chinese OEM. The official closing of the transaction followed a short time after the signing of the investment agreement between the two companies in Stuttgart earlier this year and a smooth approval by the relevant Chinese authorities. Daimler in China.
MagREEsource, a 2020 spin-off of the CNRS-Institut Néel that is commercializing processes for recycling rare-earth magnets and then remanufacturing new magnets from the recycled powders, has secured €5 million in financing and has opened its first pilot facility in Grenoble, with a capacity of 50 tons by 2023.
The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. Previously, Ukraine expressed its interest in the Chinese technology of coal gasification and coal-water fuel production.
The acquisitions will provide Northern with 40-50,000 tonnes per year (tpy) of graphite production capacity in Québec and Namibia, which will make it the third-largest non-Chinese natural graphite producing company. and a CDN$23-million equity offering lead by Sprott Capital Partners LP.
interest, and will retain operational management responsibility; its partner Tsingshan is financing the plant construction in exchange for 49.9% For this project with high value creation potential, our partner Tsingshan will provide its industrial expertise and financing capabilities needed for the construction of the plant.
There was also a strong interest in financing options: Of the respondents interested in electric cars, 66% of the German and 65% of the American study participants stated that they would purchase the vehicle via a financial product (financing, leasing or car subscription). This is followed by subscription (32%) and leasing (26%).
The supply of rare earths has become an increasingly geopolitical issue in the US, Europe and Japan, with Chinese market dominance seen as a supply risk for critical elements including neodymium (Nd), praseodymium (Pr) and dysprosium (Dy).
In addition to new investors BlackRock and Sinobioway, existing investors also participated in this financing. This new and significant financing will help accelerate our growth and further expand project development and implementation. Sinobioway is a leading Chinese company engaged in the bio-economy. Earlier post.).
At least two Chinese automakers are bringing some of their new energy vehicles—hybrid, plug-in hybrid and battery-electric—to two of the major international auto shows in the first quarter of this year. The only Chinese automaker exhibiting in the Detroit show, GAC Group brought three of its newly developed new energy vehicles.
The post Chinese auto chip maker SemiDrive closes $140 million Series B+ financing appeared first on CnEVPost. SemiDrive currently has four series of products with an annual output of one million chips. For more articles, please visit CnEVPost.
Chinese EV contender XPeng announced that its wholly owned subsidiary in China, Guangdong Xiaopeng Motors Technology Co., Early in August, Xpeng reported closing a US$900-million C+ financing round. entered into a cooperation agreement with Guangzhou GET Investment Holdings Co.,
The USA has effectively locked out Chinese batteries from its domestic market, but what if components like LFP cathodes are made in Morocco, in a factory financed by a Chinese–Korean partnership? Looks like there is more than one way to skin a cat. Sounds complicated, but it might just work, as Morocco has a free […]
In addition to the latest equity raising, Xpeng Motors has also successfully diversified its funding sources by securing several billions of RMB-denominated unsecured credit lines from leading Chinese and international banks including China Merchants Bank, China CITIC Bank and HSBC. Xpeng Motors achieved numerous milestones this year.
The China Securities Regulatory Commission (CSRC), the Ministry of Finance and the US Public Company Accounting Oversight Board (PCAOB) signed an audit supervision cooperation agreement on August 26, which will be launched in the near future.
As a result, advanced economies have lost market leadership, as 27 out of 31 reactors that started construction since 2017 are Russian or Chinese designs. Government financing will remain necessary to mobilise new investment, not just for plants but also to develop the latest technologies. —IEA Executive Director Fatih Birol.
According to Hu Angang of the Chinese Academy of Sciences, 33.3% project finance activity in the several areas of renewable power farm development. th _Five_Year_Plan.pdf">12 th Five Year Plan – Chinese Leadership Towards A Low Carbon Economy. in the prior 11 th Five Year Plan. —DBCCA.
The move, making Daimler the first non-Chinese automotive company to take a stake in a Chinese OEM, deepens an existing strategic partnership. It is also significant so that both companies can actively participate in the opportunities of the Chinese automotive market. Ltd to develop an electric vehicle for the Chinese market.
The organizations collaborating with Electrify America on this initiative include Valley Clean Air Now (Valley CAN), Pacific Asian Consortium in Employment (PACE), Chinese Newcomers Service Center (CNSC), Self Help for the Elderly (SHE), Liberty Hill Foundation (LHF) and GRID Alternatives.
NEVS halted production of the conventional Saab 9-3 Aero in May as it struggles to sort out its financing. The car is equipped with lithium-ion batteries from Beijing National Battery Technology, a company within the Chinese group of green tech companies owned by Kai Johan Jiang’s company National Modern Energy Holdings Ltd.
How Electrifying Transport and Chinese Investment are Playing Out in Indonesia —focuses on nickel as a critical mineral, but has implications for the broader minerals and materials supply chains needed for broad-scale energy transition. Global Nickel Trade and Chinese Dominance. The detailed report— Need Nickel?
The Chinese Government is seemingly supporting the construction of more battery swapping centers as part of the country’s growing electric vehicle infrastructure. The government’s support for battery swapping systems gives NIO an advantage in the Chinese car market. . Do you have anything to share with the Teslarati Team?
The growth capital and Chinese government incentives will be used predominantly to scale manufacturing, research and development, and business development activities in China for the company’s energy storage technology and products. Boston-Power, Inc., GSR Ventures has offices in Beijing and Silicon Valley.
Image credit: NIO Capital) NIO Capital has invested in a local Chinese silicon carbide (SiC) chip maker as it continues to expand its investments in the new energy vehicle (NEV) industry chain. The module will help upgrade the electrical architecture of NEVs from 400V to 800V and enable NEVs to charge from 0 to 80 percent in 10 minutes.
Hyundai is cooperating closely with its Chinese partners in line with the Chinese government’s fuel cell roadmap, which aims to have 1 million fuel cell electric vehicles by 2030. In addition, it plans to promote a pilot operation business of fuel cell electric vehicles.
In addition, Allison has committed to provide debt financing in support of JJE North America’s commercial vehicle electric drive product development, testing and manufacturing acceleration efforts.
Looking at the third-quarter global investment figures by type, asset finance of utility-scale renewable energy projects came to $49.3 The largest six VC/PE new equity deals of 2018 so far have all involved Chinese electric vehicle firms, including the two mentioned above during 3Q. In 3Q, Chinese solar investment was $14.2
Twenty-five Chinese cities have jointed a pilot program co-sponsored in 2009 by Ministry of Science and Technology, Ministry of Finance, National Development and Reform Commission, and Ministry of Industry and Information, to promote energy-efficient and new-energy vehicles.
China files appeal with WTO over EU’s EV import tariffs The Canadian government recently wrapped up a 30-day consultation period requesting advice and information about potentially restricting Chinese EV imports by imposing tariffs that align with policies implemented in the United States.
GE Energy Financial Services and GE Capital’s Equity unit provided $15 million of the amount raised by A123 in this financing. With this financing, we will begin an expansion that we expect to accelerate upon receipt of government funds. We’ve accelerated our plans to expand our US manufacturing. Earlier post.) Earlier post.)
This financing round comes on the heels of continued WiTricity business momentum. WiTricity also worked closely with the CEC to support the ratification of the Chinese national GB standard (GuoBiao) for wireless EV charging. —Mitsumasa Icho, Executive Vice President, Group CEO, Urban Development Group, Mitsubishi Corporation.
Over the last couple of months, support has been mounting for Canadian lawmakers to impose tariffs on Chinese EVs , after the U.S. The tariffs will go into effect in October, and the country is also considering tariffs on Chinese products such as chips, solar cells, and others still. and others trying to bolster domestic supply chains.
in financing ( earlier post ), conditionally secures medium-term funding and includes financing in the form of subscription agreements in the amount of €150 million (US$222 million) as well as a strategic alliance for China including joint ventures on manufacturing, technology and distribution. Spyker Cars N.V.
The Volkswagen Group is strengthening its position on the Chinese automotive market with cooperations between the VW brand and XPENG and between Audi and SAIC. The initial stage of the cooperation will provide for the joint development of two VW-brand electric models for the mid-size segment in the Chinese market.
Under the intent of the MoU, the parties will evaluate a possible cooperation related to China Development Bank’s financing of certain Volvo Car Corporation research and development programs in the area of efficient energy technology, as well as production facilities in China. —Stefan Jacoby, CEO & President of Volvo Car Corporation.
Image credit: WeRide) Chinese self-driving startup WeRide plans to start testing autonomous vehicles in Singapore this year, as it begins to set its sights on Southeast Asian markets. Investors in the round included GAC Group, Bosch, China-Arab Investment Funds, and Carlyle Group, the report said.
Tesla China’s April 2025 Model Y promotions Credit: Tesla China You can read more details on Tesla China’s zero-interest promotion below, as detailed on the order configurator page and translated into English from Chinese. percent (from 1.84 percent (from 1.84 percent (from 0.92
Farasis Energy, a global developer and manufacturer of lithium-ion cells, modules and large battery systems, recently completed C-round financing exceeding 1 Billion US dollars. Since 2017 Farasis has regularly ranked first in terms of shipments of NCM-based Li-ion pouch cells to the Chinese automotive market.
He made the remarks during the 2009 International Forum on Chinese Automotive Industry Development (IFCAID) held last week in Tianjin. Ren added that State Administration of Taxation and the Finance Ministry are also considering levying a car emission tax in future.
BYD Auto, the Chinese automaker part-owned by a Warren Buffett company, plans to introduce a limited number of its e6 electric crossovers in the US next year, according to BYD Chairman Wang Chuanfu in an interview with the Wall Street Journal. Earlier post.). Earlier post.). The e6 at NAIAS in January. Click to enlarge.
As part of the partnership, Hertz will rent BYD’s e6 electrical vehicle (EV) to Chinese consumers, municipalities and government agencies. million yuan ($43 million), based on Chinese accounting standards. The BYD e6 has been in use in Shenzhen taxi fleets for more than a year; the first fleet of 50 e6 taxis have now surpassed 2.5
The investments are to be financed from the cash flow of the Chinese joint venture companies. This year, Volkswagen has already launched three new models on the Chinese market: the Volkswagen Golf, the Volkswagen Passat New Lingyu and the Škoda Superb. Between 2009 and 2011, the Group is to invest a total of €4 billion (US$5.8
The new plant in Changsha, being built in cooperation with the Chinese joint venture Shanghai-Volkswagen (SVW), is scheduled for completion end of 2015 and will manufacture approximately 300,000 vehicles per year. billion) investment program being realized by the two Chinese joint ventures in the period to 2015. billion (US$12.5-billion)
In view of the dynamic development of the Chinese automobile market, Volkswagen has added €1.6 Growth in the Chinese automobile market has exceeded everyone's expectations”. In 2010, the Volkswagen Group will be launching a total of seven new or updated models produced locally on the Chinese market. billion (US$2.1
BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. GM is also currently working to sort out the reorganization and financing of Opel following its decision not to sell. Earlier post.). Earlier post.).
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