Qin Lihong, the president of Chinese EV maker NIO Inc., revealed on August 26 that the firm's second advanced manufacturing base in Hefei will introduce the second new model as soon as the latter half of next year.
An insider at the automotive division of Beijing-based tech giant Xiaomi stated: "Xiaomi Auto has no plans to set up a factory in Shanghai now, and the screenshot circulating on the internet is not true."
Hamedata Technology Co., Limited, a provider of household and outdoor energy storage technology, completed a round B of financing, with Qianhai FOF and ZY Capital serving as lead investors.
Ganfeng Lithium, a leading lithium compound manufacturer in China, will put its Cauchari-Olaroz salt lake project in Argentina into operation during the second half of this year.
Lochn Optics, an AR optical waveguide modules supplier, announced on Thursday that it had completed round-C financing totaling over 100 million yuan ($15.69 million).
On Tuesday, the Shanghai Stock Exchange officially accepted the application of Grinm Semiconductor Materials Co,. Ltd. (GRITEK) for listing on theShanghai Sci-Tech Innovation Board (STAR Market).
Yeelight, an intelligent lighting company, announced the completion of the round E financing worth 300 million yuan (about $47.1 million).
IKAS Industries Co., Ltd. announced its completion of a Series B financing round worth more than 100 million yuan ($16 million).
Chinese venture capital (VC) firm Hillhouse Capital Group and the district government of Xishan in Wuxi, Jiangsu province will set up a 5 billion yuan ($783.5 million) VC fund.
The solid-state battery manufacturer ProLogium Technology Co., Ltd. announced the completion of a new round of financing worth $326 million dollars.
With factory workers who once formed China’s economic backbone aging and their children shifting from traditional sectors to the booming Internet industry, policymakers have taken steps to address the change.
Chinese electronics manufacturer Luxshare Precision has bagged 3% of iPhone 13 orders from Foxconn and Pegatron, according to Nikkei Asia. The firm is about to win 2.7 million to 2.85 million iPhone orders.
Pony.ai on June 24 refuted recent market rumors that the company will initiate its own car production.
Jiangsu Yunkuaichong New Energy Technology Co., Ltd. completed a B1 round of financing, led by Contemporary Amperex Technology Co., Limited, Empower Investment and Chasing Fund.
Fueled by a rise in labor and production costs, an increasing number of China's suppliers have been shifting their production facilities to emerging export economies in Southeast Asia, according to Chinese state media.
A range of Chinese media outlets reported on Tuesday that Didi Chuxing is expected to start its own automobile manufacturing business. One report from _LatePost_ (https://www.latepost.com/news/dj_detail?id=575) further revealed concrete details on plans to have the company’s Vice President Yang Jun lead the new venture while the team actively recruits from major domestic auto manufacturers.
China Evergrande says that the company plans to begin mass production of its fully electric vehicles as early as 2022.
Most prominent fundraising news of last week brought together robot-maker Flexive, raising $100 million for expansion, online art education platform Meishubao, bagging over $210 million, and one of China’s most popular milk tea brands, Nayuki
Alibaba Group Holding Ltd. on Wednesday revealed its New Manufacturing model for the first time with the unveiling of Xunxi Digital Factory (“Xunxi”).