Chinese electric vehicle company NIO is reportedly seeking a pre-IPO round that values the company at US$6.5 billion, according to Chinese media citing insiders.
Didi-backed Xiaoju Automobile Solutions Acquires Shanghai-based Auto Care Firm Hiservice
Xiaoju Automobile Solutions (XAS), a one-stop auto solutions platform owned by Didi Chuxing announced that it has acquired Hiservice, a leader in Shanghai’s online-to-offline auto after-service market.
Tencent-Backed Chinese EV Firm NIO Files For $1.8B US IPO
Chinese electric vehicle company NIO, backed by Tencent Holdings Ltd., has filed for U.S. initial public offering to raise US$1.8 billion under the symbol NIO, according to its prospectus.
Chinese Truck Hailing App Seeks To Raise $1 Billion, Taking Valuation To $10 Billion
Manbang Group, a Chinese truck-hailing platform is looking to raise US$1 billion in a new funding round, according to the Wall Street Journal.
Didi Invests $1B In Its Auto Solution Platform Xiaoju Automobile Solutions
Chinese ride-hailing service provider Didi Chuxing said today it will invest US$1 billion into its auto solutions platform Xiaoju Automobile Solutions Co.
Primavera Capital, Morningside Venture Capital Co-lead $587M Series B+ Round In Xiaopeng Motors
Chinese electric vehicle maker Xiaopeng Motors announced that it has raised a RMB4 billion (US$587 million) series B+ round led by Chinese investment firm Primavera Capital Group, Morningside Venture Capital and its founder He Xiaopeng.
Ofo In Talks To Sell Itself At Discounted Prices After Suffering From A Slew Of Bad News
Ofo, one of the two largest Chinese bike rental firms in China, is near a deal to sell itself to Chinese ride hailing firm Didi Chuxing at a much discounted price after suffering a slew of bad news.
Chinese Smart Navigation Start-up Wayz.ai Raises $80M Series A Round
Smart location and mapping service start-up Wayz.ai announced that it has raised a US$80 million series A round from undisclosed investors.
Chinese EV Start-up Dearcc Raises $294M Pre-A Round
Chinese electronic vehicle maker Dearcc (or Dianka in Chinese), announced that it has raised a RMB2 billion (US$294 million) pre-A round from undisclosed institutional investors, an automobile industrial fund and companies in the automobile supply chain.
US Hyperloop Transportation Technologies To Build Hyperspeed Transportation System In China
US transportation and technology company Hyperloop Transportation Technologies Inc. (HTT) has announced that it will open a Chinese entity to start working on China’s first Hyperloop in Guizhou province.
China’s Ride-Hailing Giant Didi Chuxing Partners With SoftBank To Expand Operations In Japan
Didi Chuxing announced the launch of DiDi Mobility Japan Corp, a joint-venture with SoftBank, to offer on-demand taxi-hailing services and smart transportation solutions for citizens and tourists in the world’s third largest economy.
China’s Primavera Capital Co-leads $500M Round In US Autonomous Driving Start-up Zoox
Primavera Capital, a Chinese investment firm founded by Fred Hu – former Greater China chairman at Goldman Sachs, has joined Australian billionaire Cannon-Brookes’ Grok Ventures to co-lead a US$500 million round in U.S. autonomous driving start-up Zoox.
Didi Chuxing-backed Chinese Auto Transaction Service Platform Cango Files For $138M US IPO
Chinese online auto transaction service platform Cango Inc. has set its IPO price between US$10 to US$12, with 12.5 millions American depositary shares (ADS), aiming to raise US$138 million, according to its IPO prospectus.
Didi Chuxing Receives $500M Strategic Investment From Booking Holdings
China’s ride-hailing giant Didi Chuxing has received a US$500 million investment from NASDAQ-listed online accommodations and travel e-commerce firm Booking Holdings as a part of a strategic partnership.
Former Geely Vice President Nathan Yu Joins NIO Capital As Managing Partner
Nathan Yu also known as Yu Ning, former vice president of Chinese automaker Geely Holding Group, has joined NIO Capital, a private equity fund established by Chinese electric car company NIO, as managing partner.
Car Rental Firm Car Inc Acquires $81M Stakes In FDG Electric Vehicles
Car rental and fleet rental company Car Inc. has entered into an agreement to buy HK$540 million (US$81 million) stakes in Hong Kong-listed electric vehicle manufacturer FDG Electric Vehicles to become its largest shareholder, according to FDG Electric Vehicles’ security filing.
Baidu Joins Sunshine Insurance To Invest $150M In Auto Financing Firm Lionbridge Group
A week after Baidu Inc. unveiled plans to cooperate with Chinese auto and logistics financier Lionbridge Group, the latter announced it has received a RMB1 billion (US$150 million) funding from Baidu and Riverhead Capital Investment, the investment arm of Sunshine Insurance Group.
BYD Sets Up US Joint Venture To Launch Electric Bus Leasing Program
Chinese electric vehicle maker BYD has partnered with San Francisco-based energy and resource infrastructure financing firm Generate Capital to set up a joint venture to launch an electric bus leasing program in the United States.
Eight Roads Ventures, ClearVue Partners Co-lead $102M A1 Round In Autonomous Driving Firm Pony.ai
Eight Roads Ventures has partnered with ClearVue Partners, a private equity firm focused on the consumer sector of China, to lead a US$102 million series A1 round in autonomous driving firm Pony.ai, according to the latter’s announcement.
Alibaba’s AutoNavi Map App Launches Ride-Hailing Aggregation Platform To Rival Didi
AutoNavi Software Co., Ltd., a Chinese mapping app acquired by Alibaba Group Holding Ltd. in 2014, has launched a ride-hailing aggregation platform to compete with Didi and other ride-hailing services in China.
Auto Financier Lionbridge Group Rides On Baidu’s Autonomous Driving Platform
China’s largest search engine Baidu, plans to make a strategic investment in Chinese auto and logistics financier Lionbridge Group, to expand its autonomous driving push.
NIO Capital Leads Series B Round In Chinese Parking Solution Provider AIpark
NIO Capital, the venture capital arm of Chinese electric vehicle start-up NIO, has led a series B round worth hundreds of millions of RMB in AIpark, a Beijing-based parking service company providing smart urban parking management system. The company also offers artificial intelligence-based stereo garage solutions.
Evergrande Health Acquires 45% Stake In Faraday Future To Be Its Largest Shareholder
Evergrande Health Industry Group Ltd, a Hong Kong-listed investment holding company engaged in the media and healthcare businesses, announced that it has entered into an agreement to acquire a company that owns 45% equity interest in a joint venture with Faraday Future, the U.S.-based electric car start-up founded by embattled Chinese entrepreneur Jia Yueting, according to a security filing.
BJEV To Set Up Two EV Joint Ventures With Canadian Automotive Supplier Magna
Beijing Electric Vehicle Co., an electric vehicle subsidiary of the BAIC Group also known as BJEV, and Canadian automotive supplier Magna International Inc. has signed term sheets to set up two joint ventures for EV manufacturing and engineering.
Used Car E-commerce Platform Uxin Sets Terms For $437M US IPO
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.