Byton gathers millions in financing with FAW as main investor

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The Chinese electric car startup Byton is about to complete a 500 million dollar financing round, which will be led by China’s state-owned car manufacturer FAW with approximately 100 million dollars. Bloomberg reports this with reference insiders familiar with the situation. FAW had already invested around 260 million dollars in Byton last year. The value […]

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Mercedes launches EQC sales

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Mercedes-Benz has started production and sales of their new EQC. The electric model is now rolling off the assembly line at the plant in Bremen and can be ordered immediately at prices starting at 71,281 euros. However, initially only a special edition of the electric model will be available. Mercedes emphasized that even the basic […]

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ABB to Provide Paint Solutions to SAIC Volkswagen’s First EV Factory in China

ABB signed a formal agreement with SAIC Volkswagen to provide robotics painting solutions for the first New Energy Vehicle (NEV) factory of the Volkswagen Group based on the Modular Electric Driver Kit (MEB), an automotive platform specifically designe…

Exclusive: How NIO plans to stay a step ahead of Tesla and German rivals in China

In a high-end shopping district in Shanghai, China sits one of the newest, premium electric vehicles in the market: the mid-sized, all-electric NIO ES6 sports utility vehicle. Taking the spotlight inside an expansive showroom of curved glass windows, terrazzo floors, and light douglas fir wood walls, the NIO House retail gallery is as much a […]

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No more Smarts in North America

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At the end of the current model year, Daimler is to ends sales of the Smart in the USA and Canada, where the small car has only been available with an electric drive since 2017. In addition, Smart-Chefin Katrin Adt will assume a new management position within the Group as of July 1. Smart’s withdrawal […]

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Faraday granted bridge financing of 225 million U.S. dollars

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Faraday Future, an electric car startup in crisis, has received bridging financing of up to 225 million dollars from the U.S. commercial bank Birch Lake Associates to complete the development of its FF 91 model and prepare for series production. The financing will also be used to pay outstanding debts. There is talk of paying […]

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Tesla Gigafactory 3 on track to start Model 3 trial production on September

Tesla’s Gigafactory 3 is getting built at an unprecedented pace. From being a bare plot of land in January, Tesla and its construction partner have transformed the Gigafactory 3 site in Shanghai into an industrial area with a massive electric car factory taking shape. The progress of the project has been fast; too fast, in […]

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Buick goes electric in China

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Buick recently launched the Velite 6 MAV in China, which is the brand’s first global all-electric vehicle, and SAIC-GM’s first EV for the mass market. It features a maximum 85 kW of power, 255 Nm of torque and range of 301 km in the city. The electricity consumption of the vehicle has been stated by […]

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