Smart and Sustainable Electric Mobility
Avatr's post-investment valuation reached RMB 20 billion, and Nio's stake in the company dropped from 0.81 percent to 0.67 percent.
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Neta has announced the closing of a RMB 7 billion Crossover round of financing, without revealing any other details about the funding.
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NWTN will get a 27.5 percent stake in Evergrande NEV and the right to nominate a majority of the board of directors, valuing the Chinese carmaker at $1.82 billion.
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Mavel, founded in Italy in 1999, will be a supplier of core components for Nio's next-generation platform, Nio Capital said.
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HoloMatic expects its losses to narrow dramatically by 2024 and to break even by 2025, when it will apply for a stock market listing.
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Sunwoda's power battery installations in China amounted to 0.73 GWh in June, placing it at No. 6 with a 2.21 percent share.
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Talent's second phase of a 2 GWh/year plant in Chongqing is expected to be completed by the end of 2023, and a 10 GWh/year industrial park project in Anhui is under construction.
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Tianqi has acquired a 2.83 percent stake in Smart, giving the Mercedes-Geely JV a valuation of $5.3 billion.
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Voyah will raise a Series B round next and has plans for an initial public offering, its CFO said.
(A Voyah Zhuiguang on display at the Shanghai auto show. Image credit: CnEVPost)
Voyah, Dongfeng Motor's new energy vehicle (NEV) brand, has received RMB 15 billion yuan ($2.1 billion) in credit lines from six local banks, setting it up for future expansion.
Voyah held a signing ceremony for the partnerships with the Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China CITIC Bank and China Merchants Bank.
Voyah will invest more in product development and marketing and launch more quality products, its CEO Lu Fang said, according to a press release.
The NEV maker has completed its Series A financing and will next raise Series B, Local media Shanghai Securities News quoted Voyah CFO Shen Jun as saying.
Voyah has plans for an initial public offering, and it will have more than 300 core employees holding shares, Shen said.
Voyah is the brand Dongfeng Motor announced in late 2020, when the first model, Voyah FREE, was also unveiled.
The Voyah FREE went on sale in China in June 2021 and is available in an extended-range electric vehicle (EREV) version as well as an all-electric version, with current starting prices of RMB 333,600 to 393,600 respectively.
On May 7, 2022, Voyah's second model, the Dreamer MPV, was launched with a starting price of RMB 369,900.
In November 2022, Voyah announced the completion of RMB nearly 5 billion Series A financing, valuing it at nearly RMB 30 billion.
On April 18 of this year, Voyah launched the Zhuiguang sedan on the first day of the Shanghai auto show, offering three versions with a starting price of RMB 322,900.
Voyah has had a lukewarm sales performance over the past two years, selling 3,003 vehicles in May, bringing combined January-May sales to 12,024 units.
For comparison, Li Auto (NASDAQ: LI), which currently only offers EREVs, delivered 28,277 vehicles in May for a combined January-May total of 106,542 vehicles.
($1 = RMB 7.1631)
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NIO has acquired a 19.9 percent stake in Neo Fusion and NIO Capital has acquired a 10.1 percent stake.
(Image credit: CnEVPost)
NIO (NYSE: NIO) has invested in a new nuclear fusion startup, its second such investment in the past year or so.
The Chinese electric vehicle (EV) maker has invested in nuclear fusion startup Neo Fusion and told CnEVPost that the project will be funded by multiple parties, including NIO and NIO Capital, in phases, and that it plans to attract additional strategic and financial investors to support the project's long-term development.
The investment was first reported by Reuters earlier today. NIO invested RMB 995 million ($142 million) for a 19.9 percent stake, while NIO Capital, an investment firm founded by its founder, chairman and CEO William Li, invested RMB 505 million for a 10.1 percent stake, according to the report.
The newly formed Neo Fusion will research and develop technologies aimed at making controlled fusion available for global commercial use within 20 years, the report noted.
Neo Fusion has a registered capital of 5 billion yuan and is 50 percent controlled by China's eastern province of Anhui government-owned energy companies and investment arms, according to the report.
"Fusion power is a clean and efficient energy source, and also potentially one of the ultimate clean energy solutions to sustainability, making fusion power strategically significant to carbon peaking and carbon neutrality, as well as solving the global energy crisis," NIO said in a statement sent to CnEVPost.
Staying true to the original aspiration of Blue Sky Coming, NIO aims to facilitate the R&D and commercialization of nuclear fusion technology by making financial investment into this project, so that it can play a bigger part in realizing long-term suitability and enhance its influence industry-wide, the statement said.
Notably, NIO Capital had invested in a company engaged in a similar business a year earlier.
On February 25, 2022, Energy Singularity, a startup researching nuclear fusion technology, announced the closing of a nearly RMB 400 million round of funding, its first since founding in 2021.
NIO Capital and local gaming giant miHoYo were co-leaders in the funding, with Sequoia China Seed Fund and Bluerun Ventures participating in the financing.
The funds will be used primarily to develop and build the world's first small-scale tokamak experimental device based on high-temperature superconducting materials, and to develop advanced magnet systems that can be used in the next generation of high-performance fusion devices.
($1 = RMB 7.0217)
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