NIO, the Chinese EV startup backed by Tencent Holdings, has filed for a US initial public offering, Bloomberg reports. The Shanghai-based carmaker NIO (formerly known as NextEV) has submitted an initial confidential filing with the SEC, according to unnamed sources. The share sale, which could raise as much as $2 billion, is expected to take… Read more »
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Chinese EV startup Nio raises $1 billion in new fundraising round
Chinese EV startup Nio, formerly known as NextEV, has raised more than $1 billion in its latest fundraising round, led by existing investor Tencent Holdings, bringing the firm’s valuation to about $5 billion, Reuters reports. Nio, which was founded by Chinese internet entrepreneur William Li in 2014, plans to launch its first production car –… Read more »
Clean Energy Credit Union offers financing for EVs
The National Credit Union Administration (NCUA) has granted a federal charter to a new credit union based in Boulder, Colorado, called the Clean Energy Credit Union (CECU), which will serve members of the American Solar Energy Society (ASES), also based in Boulder. CECU’s mission is to promote clean energy by offering low-cost loans tailored to… Read more »
Novelis to provide aluminum for NIO EVs
Aluminum supplier Novelis has agreed to provide aluminum for NextEV’s line of NIO EVs. NIO will use Novelis Advanz aluminum alloys to create a range of structural components and parts for its electric SUV models, which it plans to launch over the next five years. The aluminum for NIO will come from Novelis’s new $100-million… Read more »
Elon Musk addresses Tesla employees about unionization
Unions and automakers have a long and fraught relationship. As Tesla has begun to evolve into a major automaker, the union has come calling, and Detroit execs are doubtless looking on with sympathy (or schadenfreude?) at the events of the past couple of weeks. Recently, Tesla factory worker Jose Moran claimed in a post on… Read more »
Union Motion’s Phaser Type 1 electric motorcycle
English startup Union Motion specializes in manufacturing custom electric motorcycles and other vehicles to customers’ specifications. The company’s latest creation is the Phaser Type 1, an electric sport bike with a spare, post-modern look. The Phaser Type 1 is based on a Yamaha FZS 600 Fazer. Union Motion started with the bare chassis – frame,… Read more »
Charged Jobs: Pure Watercraft is hiring Senior Electrical Engineer to design electric boats
The electromobility revolution will not stop at the water’s edge. Large commercial vessels such as ferries are already going electric in Scandinavia. Meanwhile, some European countries are banning gas-burning motors on environmentally sensitive lakes and rivers, creating a demand for small and medium-size electric outboards. One company hoping to lead the electrification of the world’s… Read more »
New Union of Concerned Scientists report: EV life-cycle emissions are half that of an average gas car
Diehard fossil-fuel fans are fond of speculating that EVs may be no cleaner than legacy ICE vehicles, once the emissions resulting from power generation and manufacturing are taken into account. In fact, study after study, including reports from the Union of Concerned Scientists (2012), the University of Minnesota, and Carnegie Mellon University, has shown that,… Read more »
Opinions of New Jersey Tesla ban cut across party lines: Gingrich criticizes Christie
Despite what you may hear on Fox News, which recently aired an anti-EV rant (the latest of many) that was riddled with misleading statements, by no means all conservatives are opposed to electric vehicles. New Jersey Governor Chris Christie has been taking flak from both left and right since his administration approved a new rule… Read more »
United Auto Workers union comes calling at Tesla factory
Tesla, the classic auto industry outsider, may soon be dealing with an issue that has defined Detroit for decades. The San Francisco Chronicle reports that the United Auto Workers has set up an organizing committee at Tesla’s Fremont factory. UAW President Bob King also said in August that union representatives had met with CEO Elon… Read more »