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. 

Another Chinese EV Maker Raises Massive Funding Round At Unicorn Valuation

Another Chinese electric vehicle maker has raised a massive funding round at unicorn valuation, making China the top country by far in producing electric vehicle (EV) unicorns. China is now the only country with EV manufacturing start-ups with valuations of US$1 billion or more. Moreover, China has six EV unicorns with combined valuation of nearly US$20 billion, compared to zero such firms in the U.S. or anywhere else.

Didi Chuxing, BAIC Group To Cooperate On Chinese Electric-car Fleets

China’s ride-hailing service provider Didi Chuxing has announced a strategy partnership with state-owned car maker Beijing Automotive Group Co., Ltd (BAIC Group) to strengthen cooperation on new-energy-vehicle sharing services. “Electric vehicles play a key role in the mobility industry,” said Cheng Wei, founder and CEO of Didi Chuxing. “Shared mobility, new energy vehicle networks, and new AI driving technologies are integrally linked to each other.” Didi and BAIC Group will cooperate in the areas of energy vehicle fleet operation, big …

2017 In Review: China Leads World After Minting 22 New Unicorns Worth $37.3B

China continued to be a breeding ground for tech unicorns in 2017, with 22 private companies receiving a valuation of US$1 billion or more for the first time. The 2017 vintage unicorns boast a total valuation of US$37.3 billion, accounting for more than a third of the total newborn unicorns worldwide, and 38% in terms of valuation, China Money Network‘s data shows.

China Takes Half Of World’s Top 10 Venture Capital Deals In Q3 With Artificial Intelligence A Leading Sector

Mainland China recorded robust venture capital activity in the third quarter, with the country taking half of the world’s ten largest venture capital deals during the period. Artificial intelligence (AI) was a leading sector for deal making, according to KPMG’s quarterly global report on venture capital trends.

BAIC’s Electric Vehicle Unit Raises $1.6B In Series B Round

Chinese car maker Beijing Automotive Group’s (BAIC Group) electric vehicle business unit, BAIC BJEV, has raised a RMB11.1 billion (US$1.6 billion) series B round from 14 investors, including state-owned enterprises China Cinda Asset Management Co., Ltd. and Zhongji Investment, a firm co-founded by the Hebei provincial government.

Venture-Backed Didi Kuaidi Partners With BAIC

Didi Kuaidi, a company that combines two leading Chinese taxi-hailing app makers Didi Dache and Kuaidi Dache, has established a strategic partnership with Beijing Automotive Industry Group Co., Ltd. (BAIC) to cooperate on areas including self-driving cars and new energy vehicles, the two companies announced during a press conference in Beijing yesterday. The companies will also work together on new technologies including Internet of Vehicles (IoV), a concept derived from Internet Of Things (IOT), and enterprise vehicle mobile apps. Didi …