Posts Tagged: NextEV

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 »

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 »

NextEV testing electric supercar in Germany, autonomous vehicles in California

Startup automaker NextEV has Chinese financial backing, Tesla alumni on staff, a few years of experience on the Formula E racing circuit, and a 1 MW electric supercar in development. Electrek recently got a glimpse of the next EV going through its paces on the famous Nürburgring racetrack in Germany. The million-dollar supercar is expected… Read more »

Beyond Tesla: NextEV aims to produce Automobile 3.0

Chinese-backed startup NextEV has produced a Formula E race car, and plans to reveal an electric supercar later this year. “When we launch the car it will not be a concept,” Co-president Martin Leach told the International Business Times. “It will be engineered and validated and you will see it driving at some point shortly… Read more »

NextEV founder: Chinese Tesla wannabes have no idea what they’re up against

The lure of China’s EV market, with its vast potential size and a government committed to promoting new energy vehicles, is an enticing one for established automakers and startups alike. Shenzhen-based BYD (in which Warren Buffett’s Berkshire Hathaway owns a 9% stake) currently dominates China’s new energy vehicle market, with an 18% share. Tesla is… Read more »

Another Chinese-backed startup announces plans for an electric supercar

New EV companies are cropping up like dendrites on a lithium metal anode. The latest startup to emerge from stealth mode is called NextEV. Like many of the current crop (see Faraday Future, Atieva, Fisker, Leshi), NextEV is backed by Chinese investors, and is not affiliated with a traditional automaker, although it has recruited execs… Read more »