Chinese automakers have long dreamed of the day they would start exporting vehicles to Europe (and North America) in volume. Thanks to the Continent’s burgeoning interest in EVs, that day may be at hand. As Tom Moloughney reports in InsideEVs, the first 100 Xpeng G3s are now aboard a ship, en route to Norway, the… Read more »
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Chinese automaker Xpeng is the most recent of a string of EV-makers to launch a headline-grabbing IPO. The company’s US stock-market debut (NYSE: XPEV) raised $1.5 billion off the bat, and the stock posted healthy gains on its first day. However, as John Voelcker writes in The Drive, the exploits of Xpeng and its Chinese… Read more »
Chinese EV maker Xpeng has now produced 10,000 of its G3 EVs, according to data released by the China Passenger Car Association. The cars are manufactured at the Xpeng Motors Intelligent Plant in Zhengzhou, China. The G3, an electric SUV, comes in three variants: Core, Smart, and Premium. According to Xpeng, roughly 80 percent of… Read more »
China Evergrande New Energy Vehicle Group, a Hong Kong-listed unit of the real-estate giant Evergrande Group, has raised HK$26 billion ($3.35 billion US) in an offering of 952 million new shares. The company will use the new funding for R&D, vehicle production, and to retire older debt. China Evergrande NEV is controlled by Hui Ka-yan,… Read more »
China will not make significant cuts to subsidies for new energy vehicles (NEVs) this year, Minister of Industry and Information Technology Miao Wei told a recent gathering of auto industry execs. The government-backed Beijing News confirmed that “this year’s NEV subsidy policy will remain relatively stable and there will not be significant cuts.” China implemented… Read more »
Elon Musk joined the mayor of Shanghai and other local government officials for a ground-breaking ceremony at the site of Tesla’s new Chinese plant. Tesla plans to invest around $2 billion in the facility, which is expected to have a capacity of about 500,000 vehicles per year. The company hopes to finish initial construction this… Read more »