Chinese used car e-commerce platform Uxin has set terms for its US$437 million initial public offering on NASDAQ, according to its security filing.
Chinese Electric Car Maker Byton Prepares For Mass Production Of 150,000 Vehicles
Chinese electric vehicle manufacturer Future Mobility Corporation, the parent company of Byton, has placed an order for a paint shop capable of dealing with 150,000 cars per year in Nanjing, according to an announcement by German mechanical and plant engineering firm Dürr.
Didi-backed Grab Receives $1B Investment From Toyota
Japanese automaker Toyota Motor Corporation has announced a US$1 billion investment in Grab Holdings Inc., a Singapore-based ride hailing company backed by China’s largest ride hailing firm Didi Chuxing.
Chinese Used Car Auction Platform Tiantianpaiche Receives $100M Investment From Autohome
Chinese used car auction platform Tiantianpaiche has received US$100 million strategic investment Autohome, a Chinese automobile online platform, according to Tiantianpaiche’s announcement on its official WeChat account.
Green Harbor Leads $125M Series D Round In Used Car Auction Platform Chezhibao
Chinese private equity fund Green Harbor Investment has led a RMB800 million (US$125 million) series D round in Nanjing-based customer-to-business used car auction platform Chezhibao.
Ant Financial Invests $321M In Hellobike At $1.47 Billion, Creating A New Unicorn In China
Alibaba’s financial services unit Ant Financial has invested RMB2.06 billion (US$321 million) in bike sharing firm Hellobike, valuing the latter at US$1.47 billion and giving birth to a new unicorn company in China, according to Shanghai-listed Yonou Bike’s security filing.
Chinese EV Unicorn NIO Begins ES8 Deliveries As The First To Face Consumer Inspections
Finally, one Chinese electric vehicle company has reached the critical moment of delivering its vehicles to face the real-life tests and inspections by consumers. NIO, a Shanghai-based EV unicorn with a reported valuation of between US$3 billion to US$5 billion, delivered its first batch of NIO ES8, a seven-seater electric SUV, today in Shanghai, NIO announced today.
Didi Chuxing Participates In $175M Round In Estonian Ride-Hailing Unicorn Taxify
To further its global expansion to rival Uber, China’s largest ride-hailing operator Didi Chuxing has participated in a US$175 million round in Estonian ride-hailing start-up Taxify, valuing the company at US$1 billion.
Tencent-Backed Chinese EV Firm NIO Files Confidentially For US IPO
Chinese electric vehicle company NIO, backed by Tencent Holdings Ltd., has filed confidentially for a planned U.S. initial public offering, according to media reports citing insiders.
Didi Begins Safety Overhaul After Passenger Murder Shocked Nation
China’s largest ride-hailing firm Didi Chuxing has released a safety overhaul after it suspended its Didi Hitch service last week, following the murder of a female passenger that shocked the country.
BMW First Foreign Car Company To Win Chinese Self-driving License
BMW China Services Ltd. has received two self-driving road test licenses from Shanghai regulators, making it the first foreign automaker to gain such permits, according to the official website of Shanghai Municipal People’s Government.
Shenzhen Capital Group, Wu Capital Co-Lead $128M Round Chinese Autonomous Driving Firm Roadstar.Ai
Chinese investment firm Shenzhen Capital Group Co., Ltd. has partnered with Wu Capital, a Chinese family office, to lead a US$128 million series A round in Roadstar.ai, an artificial intelligence start-up focused on research and development of level 4 autonomous driving technologies.
Tesla Gains Approval To Set Up Wholly-owned Company In China
American electric vehicle maker Tesla Inc. has gained green light from China to set up its 100% owned company in Shanghai.
Tencent Gets License To Test Autonomous Vehicles In Shenzhen
Tencent Holdings has received a license to road test smart, Internet connected vehicles in the city of Shenzhen, as the Chinese social media giant’s autonomous vehicle ambitions accelerate.
Didi Suspends Hitch Service For A Week Following Murder Case
Chinese ride hailing giant DiDi said it will suspend its hitch service nationwide for a week for rectification, following a murder case earlier this week. The case comes at a time when Didi is reportedly planning an initial public offering this year or next, and is facing increasing competition from strong new players in China’s ride hailing market including Meituan Dianping and Ctrip.
Didi Chuxing Faces Government Warning After Passenger Murdered
China’s ride-hailing giant Didi Chuxing is facing a strong backlash from both government and media after a Didi driver in Zhengzhou was suspected of raping and murdering a female passenger earlier this week.
Andrew Ng’s Drive.ai To Launch Autonomous Car Ride Hailing In Texas
Andrew Ng, former chief scientist at Baidu and one of the founders of the Google Brain team, has announced that Drive.ai, an autonomous driving start-up on whose board he sits, will offer a self-driving car hailing services for public use in Frisco, Texas starting in July.
Chinese Rural Fintech Firm Shenma Completes $47.3M Series C Round
Shanghai-based Shenma Finance, a fintech company focused on rural mobility, has raised a RMB300 million (US$47.25 million) series C round led by China Growth Capital, Hina Group and Chinese fintech firm Tongbanjie Group.
China’s Didi Chuxing Teams Up With Volkswagen To Set Up Mobility Services Joint Venture
China’s largest ride-hailing provider Didi Chuxing is finalizing a deal with German automaker Volkswagen AG to set up a joint venture to develop mobility services in China.
Ctrip.com Says It Wants To Bring Supersonic Air Travel To China
Chinese online travel service provider Ctrip.com International (NASDAQ: CTRP) says it wants to bring supersonic air travel to China.
Goldman Sachs Leads $300M Round In Chinese Online Used-Car Auction Platform Renrenche
Goldman Sachs has led a US$300 million new financing round in Chinese online used-car trading marketplace Renrenche, with existing investors Tencent Holdings Ltd. and Didi Chuxing participating, the company announced today.
Chinese Electric Vehicle Start-up Singulato Motors Gets $474M
Chinese new energy vehicle (NEV) start-up Singulato Motors has raised RMB3 billion (US$474 million) in a Series C round fundraising, the company announced.
Didi Chuxing Kicks Off Global Alliance for Car-sharing and "Purpose-Built" Vehicles
Chinese mobile car-hailing giant Didi Chuxing announced that is is teaming up with 31 global automobile makers to form the "DiDi Auto Alliance," an international car-sharing alliance, Didi announced in Beijing on Tuesday.
China’s Didi Chuxing Said Planning $80B IPO To Rival Meituan Dianping
Didi Chuxing is already a rival with Meituan Dianping in China’s increasingly crowded car ride-sharing and bike-sharing markets. Now they appear to be in a race to see who can launch an initial public offering first.
Softbank, China Reform Fund Co-lead $1.9B Round In Truck-hailing Firm Manbang
Chinese truck-hailing firm Manbang Group has completed a US$1.9 billion round led by Softbank Vision Fund and China Reform Fund, a private equity firm backed by China Reform Holdings Corporation Ltd and other central state-owned enterprises.
Didi Chuxing Cited For Operating Without Licenses Amid Tougher Competition
China’s largest ride-hailing firm Didi Chuxing was summoned by the Road Transport Management Bureau of Zhejiang Province and 11 city level transportation bureaus for operating without licenses in some cities, and was warned of unfair competition, according to a notice on China’s Ministry of Transport’s website.
China Tops World Electric Car Sales For Third Straight Year
China’s new energy car sales have topped the world for the third consecutive year, with 777,000 such cars sold in 2017, representing 54.7% of the world’s total sales, according to a report by state-owned media People.cn .
Alibaba Accelerates Autonomous Driving Research, Following In Footsteps Of Baidu And Tencent
Alibaba Group Holding Ltd. is accelerating its research and development of autonomous driving technology, and is looking to recruit more than 50 people to build up its team, people familiar with the matters told China Money Network.
Hellobike Raises $700M Round From Ant Financial And Fosun
Chinese bike sharing firm Hellobike has raised a new financing round of US$700 million from existing investors including Ant Financial and Fosun Group, as well as seven new investors, according to Chinese local media.
China Issues National Autonomous Vehicle Rules In Bid To Catch US
China has released its first national guidelines on road tests for autonomous vehicles, a key step in a wider effort to promote development of the technology. The U.S., which is currently well ahead of China in terms of AV testing, currently depends on regulations at the state level.
Tencent, Changan Automobile Launch Connected Vehicle Platform Joint Venture
Chinese Internet giant Tencent Holdings Ltd. has set up a joint venture with Chinese automobile manufacturer Changan Automobile Co., Ltd. to co-develop autonomous driving technologies and connected vehicle platforms.