Tagged: China

Denza sees 1st production cars of N7 SUV roll off line

The Denza N7 will go on sale later this month, with deliveries to begin in July.  |  BYDDY.US | HK

BYD's premium new energy vehicle (NEV) brand Denza has seen the first production vehicles of the N7 SUV roll off the assembly line, Zhao Changjiang, general manager of the brand's sales division, said on Weibo today.

Zhao did not provide any more information, though shared two images of Denza celebrating the moment.

On June 13, Zhao said the Denza N7 had received more than 20,000 pre-orders before specifications and pricing were announced.

On March 26, he said there were many customers who wanted to get the Denza N7 released and on the market as soon as possible, and that the model was expected to receive 30,000 orders before its mid-year launch, according to the volume of inquiries.

Denza is a joint venture formed in February 2011 by BYD and Daimler, with each holding a 50 percent stake at the time. In February 2022, the Daimler brand was rebranded as Mercedes-Benz. BYD's shareholding in Denza increased to 90 percent last year.

In August 2022, Denza let the D9 MPV go on sale, the brand's first model after the reorganization. The Denza N7 is the second model after Denza's sharing-holding change and its first SUV.

On the first day of the Shanghai auto show on April 18, Denza opened reservations for the N7, but its pricing information was not released.

On December 20 last year, Zhao said on Weibo that the Denza N7 aims to capture the market for conventional internal combustion engine cars priced at around 400,000 yuan ($55,750).

On April 25, Denza said the N7 had received 10,569 pre-orders, just seven days after reservations opened.

On May 30, Zhao said at Denza's first brand day event that the Denza N7 would go on sale in late June, with deliveries to begin in July.

The Denza N7 is a 5-seat mid-size SUV with a length, width and height of 4,860 mm, 1,935 mm and 1,602 mm, respectively, and a wheelbase of 2,940 mm, a previous regulatory filing shows.

Denza's only model currently in delivery, the Denza D9, began deliveries at the end of October last year and sold 11,005 units in May this year, the third consecutive month in which it has exceeded 10,000 units.

($1 = RMB 7.1753)

Denza's 1st SUV N7 surpasses 20,000 pre-orders ahead of official launch

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HiPhi begins accepting pre-orders for HiPhi X and HiPhi Z in Europe, deliveries to begin in Q3

HiPhi's third model, the HiPhi Y, which will be launched in China on July 15, will also be introduced to the European market soon and will be available for pre-order there by the end of the year.

HiPhi begins accepting pre-orders for HiPhi X and HiPhi Z in Europe, deliveries to begin in Q3-CnEVPost

(Image credit: HiPhi)

Chinese premium electric vehicle (EV) maker Human Horizons' HiPhi brand has announced the European pricing of its models and started accepting pre-orders.

HiPhi began accepting reservations for the HiPhi X and HiPhi Z from local consumers in Germany and Norway, with first deliveries of the vehicles expected to begin in the third quarter, it announced yesterday.

The HiPhi showroom at Munich International Airport in Germany will open shortly, and the first HiPhi X and HiPhi Z have completed their license plate registration in Germany, allowing consumers to visit the showroom to experience the vehicles and book test drives, it said.

The HiPhi X six-seater and four-seater versions start at 109,000 ($119,000) euros and 123,000 euros respectively in Germany. In Norway, they start at NOK 1,164,000 ($108,690), NOK 1,326,000 respectively.

The HiPhi Z starts at 105,000 euros for the five-seat version in Germany and 107,000 euros for the four-seat version. In Norway, they are NOK 1,110,000, NOK 1,143,000 respectively.

HiPhi begins accepting pre-orders for HiPhi X and HiPhi Z in Europe, deliveries to begin in Q3-CnEVPost

(Image credit: HiPhi)

Human Horizons launched the HiPhi X, the first model of the HiPhi brand, in October 2020, and deliveries of the model began in China in May 2021.

The HiPhi X starts at RMB 570,000 ($79,450) in China for the six-seat version and up to RMB 800,000 for the four-seat version.

In August 2022, the HiPhi Z, the second model under the HiPhi brand, went on sale. The model is available in five-seat and four-seat versions, with starting prices of RMB 610,000 and 630,000 yuan in China, respectively, and deliveries began at the end of January.

The HiPhi X is powered by dual motors with a maximum output of 440 kW and accelerates from 0 to 100 km/h in 3.9 seconds.

The car is equipped with a battery pack with a capacity of 97 kWh and a CLTC range of 560 km.

The HiPhi Z is equipped with dual motors with a maximum output of 494 kW and accelerates from 0 to 100 km/h in 3.8 seconds.

The car is equipped with a 120-kWh battery pack and has a CLTC range of up to 705 km.

HiPhi begins accepting pre-orders for HiPhi X and HiPhi Z in Europe, deliveries to begin in Q3-CnEVPost

(Image credit: CnEVPost)

Both models have received EU certification from the TÜV Nord Group for sale in Europe, HiPhi said yesterday.

In Europe, consumers in Germany and Norway will be the first to experience HiPhi's new driving experience, said Mark Stanton, co-founder, CTO and president of Human Horizons Europe.

With Germany and Norway as the starting point, Human Horizons will expand its business to more countries and regions, he said.

The HiPhi Y, the third model of the HiPhi brand, will be launched on July 15 in China, and it will also be introduced to the European market soon and will be available for pre-order by European consumers by the end of the year, the company said.

The HiPhi Y was included in the latest list of models that will be allowed to be sold in China, announced by the Chinese Ministry of Industry and Information Technology (MIIT) on February 13.

The HiPhi Y will have a single-motor and a dual-motor version, with the single-motor version having a maximum motor power of 247 kW. Its dual-motor version has an additional front motor with a maximum power of 124 kW, according to the filing.

HiPhi was finalizing the pricing for the HiPhi Y series, with the 560 km range version expected to be set at RMB 369,000 to start, said Xu Bin, HiPhi's brand and communications manager, on May 24.

($1 = EUR 0.9160, $1 = NOK 10.7093, $1 = RMB 7.1745)

Saudi Arabia signs $5.6 billion deal with Chinese EV maker Human Horizons

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China’s EV sector at crossroads as NIO joins bloody price war

's about-face highlights the plight now facing China's EV makers, as they try to navigate an unexpected turn in the road that analysts say could stretch on for some time to come.

This article by Trevor Mo was first published in The Bamboo Works, which provides news on Chinese companies listed in Hong Kong and the United States, with a strong focus on mid-cap and also pre-IPO companies.

(Image credit: CnEVPost)

Key Takeaways:

NIO cut its prices last week, reversing its previous position, in response to slowing sales growth over the past two months after many of its rivals made similar reductions.

Smaller firms could be the most vulnerable if the current EV price war drags on, due to their thinner margins compared to larger peers.

Used to being praised for its cutting-edge electric vehicles (EVs), NIO Inc. (NIO.US; 9866.HK) found itself in unfamiliar terrain last week when it became the target of online sarcasm after announcing it would slash prices for all of its electric vehicles (EVs) by 30,000 yuan ($4,209).

Just two months earlier, CEO William Li had proclaimed he would never join the price war now throttling his sector, saying such blind cuts would only lead to "unhealthy competition".

NIO's about-face highlights the plight now facing China's EV makers, as they try to navigate an unexpected turn in the road that analysts say could stretch on for some time to come. Smaller firms are in the most difficult bind since further cuts will further erode their already thin margins. But refusing to stay in the cutting game risks losing sales to industry heavyweights such as (1211.HK; 002594.SZ) and (TSLA.US).

We'll look shortly at how the recent price war is affecting China's smaller homegrown EV makers, which also include (LI.US; 2015.HK), Leapmotor (9863.HK) and (XPEV.US; 9868.HK), as well as non-listed peers like . But first, we'll shift into reverse to see how the ongoing months-long price war has evolved.

Things began last October when Tesla cut prices for its Model 3 and Model Y by as much as 9 percent, then further slashed prices as much as another 13.5 percent in January.

Those cuts prompted others to follow suit, with XPeng announcing reductions in January for its G3i SUV and P5 and P7 sedans by as much as 13 percent. BYD joined the following month by cutting the price of its 2021 Han EV model by 20,000 yuan in Beijing, and the 2021 Qin EV by 15,000 yuan.

Other brands, from domestic heavyweights like GAIC, SAIC, and FAW, to foreign names like Ford, Volkswagen, BMW, and Toyota, also joined the bloodbath. The cuts followed Beijing's retirement of one of the main government incentive programs for EV purchases at the end of last year, which previously helped to double the sector's sales in 2022.

The price war later spilled into the fossil fuel vehicle sector as well, with automakers rushing to clear inventory before a new set of stringent emissions standards takes effect in July.

As of late March, more than 40 carmakers had gotten sucked into the Chinese price war by offering discounts on electric and gas-powered vehicles, according to local media outlet Yicai, which cited data from third-party consultancy Positioning Pioneers.

As the cutting gained traction, about 20 percent of passenger cars being sold in China came with discounts of 10,000 yuan or more, according to PingWest, another local news outlet, citing data compiled by research group China Auto Market.

Driving consolidation

The price war is already showing signs of driving consolidation in a crowded sector whose growth was fueled in no small part by strong government incentives that are now being rapidly phased out.

As the war drags on, bigger players are increasingly cementing their leading positions, while smaller ones face sluggish sales. In the first four months of this year, three companies – BYD, Tesla and – held a combined 50.1 percent share of the pure-battery EV market, up from 42.7 percent in the same period a year ago, according to the China Passenger Car Association (CPCA). BYD led the trio with 24.9 percent of the market, up 7.4 percentage points year-on-year.

As the big names gained share, many smaller brands moved in the opposite direction. XPeng reflected that group, symbolically dropping off the list of the top 10 EV makers in the first four months of this year.

NIO managed to increase its share by 0.3 percentage points, but its 27.1 percent growth rate in vehicle deliveries during the period was far behind BYD and Tesla, which each recorded more than 60 percent year-on-year growth.

Facing such slowing growth, it comes as little surprise that NIO has finally joined the price war. But it also remains to be seen whether the move will significantly boost its sales.

XPeng's experience suggests otherwise. Its massive price cuts in January failed to lift sales, and the company's total vehicle deliveries actually plunged by 47.3 percent in the first three months of this year.

Another smaller EV startup, Leapmotor, announced similarly dismal results after rolling out its own massive price cuts. The company's vehicle deliveries tumbled by 51.3 percent in the first quarter to 10,509, according to its latest quarterly report.

Not all smaller players have suffered. Li Auto – the last holdout in the intensifying price war – delivered 52,584 vehicles during the first quarter, up 65.8 percent year-on-year. The company also recorded a 933.8 million yuan net profit for the period, making it one of the few EV makers that has been able to operate profitably. Both BYD and Tesla recorded profits during the period, while NIO, XPeng, and Leapmotor all lost money.

The smaller companies' dismal bottom-line performance is reflected in their profit margins that sharply trail their larger peers. NIO, XPeng, and Leapmotor all recorded gross profit margins of less than 2 percent during the first quarter, well behind BYD's 17.9 percent and Tesla's even higher 19.3 percent for its EV business.

That brings us back to the dilemma now confronting smaller firms that will find it increasingly difficult to wage a prolonged price war that sucks up their dwindling cash hordes, with skeptical investors unlikely to provide fresh funds.

NIO's cash fell to 37.8 billion yuan by the end of March from 45.5 billion three months earlier, while XPeng's fell to 34 billion yuan from 38 billion yuan over the same period. Those declines are likely to continue, or even accelerate if the price war continues.

The war has already left a number of the smallest major EV makers teetering on the brink of insolvency. One of those is WM Motor, a former highflyer that is currently facing a financial crunch that saw it reportedly slash salaries and implement mass layoffs late last year and into 2023. Data from the CPCA showed that WM Motor sold just 457 vehicles in the first two months of 2023, down 92.4 percent from the year-ago period.

BREAKING: NIO cuts starting prices by $4,200 for all models and makes battery swap benefits optional

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BYD launches 2023 Song Plus at lower prices than pre-sale

All versions of the 2023 Song Plus are priced RMB 10,000 lower than the pre-sale.

(Image credit: )

BYD today officially launched the 2023 Song Plus line of SUVs, after starting their pre-sale 10 days ago.

As it has done previously, BYD is calling these revamped models Champion Editions, including the plug-in hybrid Song Plus DM-i and the all-electric Song Plus EV.

The new Song Plus DM-i is available in four versions with starting prices of RMB 159,800 ($22,320), RMB 169,800, RMB 179,800 and RMB 189,800 respectively.

Compared to the June 8 pre-sale, all versions of the Song Plus DM-i are priced RMB 10,000 lower.

The previously available Song Plus DM-i was offered in seven versions with starting prices ranging from RMB 154,800 to RMB 218,800.

It is worth noting, however, that the Song Plus DM-i's two previously least expensive versions had a battery range of just 51 kilometers, which BYD has eliminated for the improved version of the model.

The entry-level version of the new Song Plus DM-i has a battery range of 110 kilometers and the final price is lower than the previous 110-kilometer range version at RMB 167,800.

The Song Plus EV Champion Edition also comes in four versions, starting at RMB 169,800, RMB 179,800, RMB 189,800 and RMB 209,800 respectively, all of which are RMB 10,000 less than the price at the time of pre-sale.

Three versions of the new Song Plus EV have a 520 km CLTC range and one version has a 605 km CLTC range.

The previously available 2022 Song Plus EV had only two versions, starting at RMB 186,800 and RMB 203,800 respectively. They both have an NEDC range of 505 km.

The length, width and height of the new BYD Song Plus are 4,775 mm, 1,890 mm and 1,670 mm respectively, with a wheelbase of 2,765 mm.

For comparison, the old Song Plus has a length, width and height of 4,705 mm, 1,890 mm and 1,680 mm, respectively, and a wheelbase of 2,765 mm.

BYD's product array includes the Dynasty series and the Ocean series, and the Song family models include both the Song Pro DM-i and Song Max DM-i in the Dynasty series and the Song Plus series in the Ocean series.

BYD sold 240,220 new energy vehicles (NEVs) in May, including 239,092 new energy passenger vehicles, and 1,128 new energy commercial vehicles.

Its Dynasty series passenger cars sold 125,515 units in May, and the Ocean series sold 102,572 units.

In May, the Dynasty Series Song sold 13,685 units and the Ocean Series Song Plus sold 24,329 units, according to data monitored by CnEVPost.

($1 = RMB 7.1609)

BYD officially names F brand Fang Cheng Bao, initial model to be launched this year

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Polestar partners with Geely’s Meizu to make in-car operating system that caters to Chinese consumers

Polestar will own 49 percent of the joint venture, with Xingji Meizu holding the remaining 51 percent.

(Image credit: CnEVPost)

After acquiring smartphone maker Meizu last year, is integrating it with car brands under its umbrella.

Swedish electric vehicle (EV) maker Polestar said today it has formed a joint venture with Xingji Meizu to build an operating system for Polestar cars sold in China.

Polestar will own 49 percent of the joint venture, with Xingji Meizu holding the remaining 51 percent, according to a statement.

The joint venture will build on Xingji Meizu's existing operating system, Flyme Auto, for Polestar's smart operating system, Polestar OS, for the Chinese market.

The system can be integrated with cell phones, augmented reality smart terminals and user service applications to create a borderless digital ecosystem, Polestar said.

China is one of the fastest-growing EV markets in the world, with distinct consumer trends, notably the deep integration of consumer electronics and cars, said Polestar CEO Thomas Ingenlath.

Through this partnership, Polestar and Xingji Meizu will provide Chinese customers with an experience that exceeds expectations, he said.

Originally a brand acquired by Volvo Cars, Polestar became independent with joint funding from Geely and Volvo, focusing on premium EVs and based in Gothenburg, Sweden.

In June 2022, Polestar went public on NASDAQ through a merger with a SPAC (Special Purpose Acquisition Company).

Currently, Polestar's models are all produced in Chinese factories.

Meizu was one of the first smartphone manufacturers in China, founded in 2003, and became one of the best-known phone makers in the smartphone era. However, the company's market share has declined severely over the past few years.

On July 4, 2022, Hubei Xingji Shidai Technology, a cell phone company founded by Eric Li, founder and chairman of carmaker Zhejiang Geely Holding Group, announced the completion of its acquisition of a majority stake in Meizu.

Xingji acquired a 79.09 percent controlling interest in Meizu and gained sole control of the company.

Last November, Meizu released the system, called Flyme Auto, saying it was a continuation of the Flyme mobile operating system for the smart cockpit.

In March, the Xingji Meizu Group was officially launched, and its executives announced at the time that the company would focus on mobile and in-car systems, XR technology and forward-looking technologies going forward.

With the new joint venture, Polestar is no longer an EV company, but a technology company with multiple smart terminals, including cars and phones, Xingji Meizu CEO Shen Ziyu said today.

Polestar 4 launched in China with starting price of $50,870

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NIO offers short-term car rental for Chinese owners on European trips

The service will begin a trial run on July 1, with available vehicles being the ET7 and EL7 and a minimum order length of seven days.

(Image credit: )

NIO (NYSE: NIO) will start a trial of a service next month that will allow its car owners in China the flexibility to rent the company's cars while traveling in Europe.

NIO's destination travel service in Europe will begin a trial run on July 1, and those interested can make reservations at that time, according to an article posted today on the NIO App.

The service will be available in Norway, Germany, the Netherlands, Sweden, and Denmark, covering 11 cities including Oslo, Berlin, Frankfurt, Munich, and Amsterdam.

NIO will offer two models, the ET7 and EL7, in the trial, but for now it is only available to NIO car owners.

The Chinese electric vehicle (EV) maker launched the ET7, ET5 and EL7 in Europe at the NIO Berlin 2022 event on October 7, 2022. The EL7 is known as the ES7 in China and is using that new name in Europe because of the lawsuit with Audi.

ET7 deliveries in Europe started in October 2022 and EL7 deliveries there started on January 31 of this year.

Owners wishing to use NIO's service must place an order 14 days in advance, with a minimum order length of seven days, at a price of 700 euros ($760) per week. Any use of the car beyond 7 days will be calculated at 100 euros per day.

The benefits provided by NIO for consumers of the service include battery swap service free of charge, free NIO House drinks, and 7*24 hours Chinese service.

NIO Houses are NIO's flagship showrooms, which function as a space to display and sell vehicles while providing a quality lifestyle for NIO owners. The company's showrooms also include the much smaller NIO Spaces.

NIO currently has six NIO Houses in Europe, located in Oslo and Kristiansand, Norway; Berlin, Frankfurt and Dusseldorf, Germany; and Rotterdam, the Netherlands.

NIO plans to start supporting the use of NIO Credits within its Chinese mobile app for NIO Houses overseas at the end of July, it said.

($1 = €0.9167)

NIO names its car rental service in China NIO Subscription

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China may introduce NEV support measures soon

China's State Council Information Office will hold a briefing at 10 am Beijing time on June 21 on promoting the development of the NEV industry.

China may introduce NEV support measures soon-CnEVPost

(Image credit: CnEVPost)

China is expected to introduce policy initiatives to promote the "high-quality development" of the new energy vehicle (NEV) industry in recent days, local media China Securities Journal said in a report today.

The report did not mention details about the possible policies.

A notice posted on the website of China's State Council Information Office today shows it will hold a regular briefing at 10 am Beijing time on Wednesday, June 21, to introduce the promotion of "high-quality development" of the NEV industry and answer reporters' questions.

China's current policy to support the NEV industry is mainly the exemption of purchase tax.

In order to support the development of energy-efficient vehicles, China first started to exempt NEVs from purchase tax in 2014.

The policy originally expired at the end of 2017, but was renewed before its expiration until the end of 2020. In March 2020, China renewed the policy again until the end of 2022.

On September 26, 2022, several Chinese government departments announced in an official announcement that the purchase tax exemption for NEVs would continue until the end of 2023.

On June 2, a Bloomberg report said that China was considering extending the tax exemption for cheaper NEVs for another four years.

One of those measures could be extending the purchase tax exemption for electric and plug-in hybrid vehicles that cost less than 300,000 yuan ($42,910), according to the Bloomberg report.

Hours after that Bloomberg report was published, state broadcaster CCTV reported that a State Council meeting mentioned that China would extend and optimize the vehicle purchase tax exemption for NEVs.

The upcoming press conference on June 21 may be related to the extension of the NEV purchase tax exemption policy.

Before this year, China also offered state subsidies for NEV purchases, and they were not renewed when they expired at the end of last year, although some local governments have offered subsidies to local residents for their purchases from time to time.

Following the withdrawal of state subsidies, growth in China's NEV industry has slowed significantly so far this year.

From January to May, retail sales of NEVs in China were 2.42 million units, up 41.45 percent year-on-year, according to the China Passenger Car Association (CPCA). For comparison, the growth rate for the same period last year was 117.21 percent.

($1 = RMB 7.1580)

China to extend and optimize NEV purchase tax exemption policy, says State Council meeting

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BYD Yangwang U8 expected to be officially launched in Aug

Yangwang will have separate sales channels from and is in the process of building its first stores in 16 cities, and they are expected to start trial operations gradually in August.

(Image credit: CnEVPost)

The Premium Edition of Yangwang's first model, the U8, is expected to be officially launched in August, and the final price will be announced at that time, the BYD-owned premium brand said today.

Deliveries of the Yangwang U8 Premium Edition are expected to begin in September, it said.

Yangwang began pre-sales of the U8 on the first day of the Shanghai auto show on April 18, saying at the time that the model would be offered in two versions -- a Premium Edition and an Off-road Master Edition.

Both versions of the Yangwang U8 have the same pre-sale price of 1,098,000 yuan ($153,400), with the difference being that the former has more features and the latter has more room for modifications.

For BYD, its pattern for launching a new model is to start pre-sales first and offer a lower price when it finally goes on sale.

Yangwang will not use BYD's sales channels and will build its own showrooms, it said in a post posted today on its social media platforms.

Yangwang is currently building its first stores in 16 cities, including Beijing, Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu, and they are expected to start trial operations gradually in August.

Yangwang uses an online booking model, where consumers can book through channels including the brand's mobile app and get delivery at offline stores.

Buyers of the Yangwang U8 Premium Edition will not have to pay a luxury car tax, as the tax is only available in China for models with a retail price of RMB 1.3 million or more, Yangwang said.

For the Yangwang U8 Off-road Master Edition, whether consumers will have to pay the luxury tax will be subject to their additional options.

The Yangwang U8 is currently only available in a five-seat version, and its interior is expected to be officially revealed in July.

On January 5, BYD officially launched the Yangwang brand and unveiled the Yangwang U8 and Yangwang U9, both of which will be equipped with BYD's e⁴ technology.

e⁴ is China's first mass-produced quad-motor independent drive technology platform, able to achieve precise control of vehicle four-wheel dynamics by virtue of quad-motor independent vector control technology, BYD said at the time.

The Yangwang U8 has a maximum output of over 1,100 horsepower, takes 3.6 seconds to accelerate from 0 to 100 kilometers per hour and has a CLTC pure electric range of 180 kilometers, the brand previously said.

The Yangwang U9 is not yet available for pre-order, and its official launch date is unknown.

($1 = RMB 7.1577)

BYD Yangwang begins pre-sale of U8 off-road SUV at $160,000

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NIO Capital ups bet on ARM CPU startup CIX Technology

Capital participated in a RMB hundreds of millions Series A round of funding for CIX Technology, after previously co-leading the company's Pre-A round.

(Image credit: NIO Capital)

CIX Technology, a Chinese startup that builds computer CPUs based on ARM architecture, recently closed new funding from several investors, including NIO Capital.

NIO Capital said today that it participated in CIX Technology's multi-hundred-million-yuan Series A funding round after co-leading the company's Pre-A round.

Following the completion of this round, CIX Technology will continue its efforts in the general-purpose CPU space to accelerate the design and development of next-generation CPU chips, according to NIO Capital.

Founded in 2021, CIX Technology is focused on developing general-purpose CPUs for scenarios including personal computing, in-vehicle computing, and metaverse infrastructure.

NIO Capital's press release today does not mention the amount or valuation of CIX Technology's Series A funding.

According to CIX Technology's press release, the financing was co-led by Tongge Venture Capital, 37Games, and followed by NIO Capital as an existing shareholder.

On July 18, 2022, LatePost reported that CIX Technology closed a new round of funding of about $50 million at that time, co-led by NIO Capital and Qiming Venture Partners.

It was also CIX Technology's fourth funding round in its nine months of existence, giving it a post-round valuation of about $300 million, according to the report.

While most startups want to enter the chip manufacturing market from server CPUs, CIX Technology's first product is a computer CPU, similar to Apple's M1 chip.

CIX Technology's founder, Sun Wenjian, was the former head of AMD's customer customization division in China. He saw the time as ripe to start a business in the field of CPUs based on the ARM architecture after Apple released the M1 chip in November 2020, according to LatePost.

CIX Technology joined Linaro's Windows on Arm Group in July last year.

CIX Technology will be responsible for native Arm development, native application support and localization to help build the global Windows on Arm ecosystem, NIO Capital said in a press release at the time.

NIO Capital reportedly leads investment in local computer CPU maker CIX Technology

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