Jia Yueting released a statement after his Chapter 11 Disclosure Statement and the motion for approval of DIP Financing were approved.
Jia Yueting announced that the $600 million claim declaration amount is the joint guarantee debt of both his brother Jia Yuemin and himself.
As of December 31, 2019, Hillside Capital no longer holds equity in NIO. So far, 2020 has seen NIO raise $200 million in convertible bond financing.
The Ministry of Industry and Information Technology (MIIT) is now raising the stakes, setting a higher target for the proportion of environmentally friendly cars out on the roads.
On November 27, Xpeng Motors announced that they have signed a deal with Alipay to jointly develop in-car payment functions.
The New Energy Auto Show slated to be held in Shanghai from October 30 to November 1 was suddenly postponed as Chinese media confirmed on October 10.
Tightening emission regulations to combat the pollution issues have pushed the rapid development of new energy vehicles around the world.
2019 Shanghai Auto Show kicked off today with various carmakers showcasing their latest technology, concept cars and new vehicles ready for launch.
Imagine driving in a heavily trafficked Beijing, passing Tiananmen square when you get a notification that your sleek NIO electric car needs to upgrade.
Chinese electric-vehicle maker, NIO, has updated its initial public offering (IPO) prospectus and set terms to raise a total of $1.32 billion.
YT Jia’s car manufacturing business has made new progress. Faraday Future, an electric vehicle startup backed by LeEco founder YT Jia, announced the opening of its factory in Hanford, California. Photos revealed that the factory is already operating with some personnel and mechanical equipment.
On February 28, the media reported that NIO has hired eight banks, including Morgan Stanley and Goldman Sachs, to prepare for its planned listing in U.S. this year. The IPO is expected to raise up to $2 billion USD.
Media were impressed with the 80-million-yuan lavish launch event for the ES8 in Wukesong Venue. There is no doubt NIO raised more investment and spent more money than any other automotive start-up in China. Since its establishment, NIO has raised more than US $2 billion.
BYD announced it would build an electric truck factory in Canada, which will be its first electric car assembly plant in Canada. The electric truck plant is scheduled to be put into operation next year.
This morning, XPENG chairman He Xiaopeng drove the first XPENG car with a Beijing license place onto the streets near the National Convention Center.