VW and Xpeng have concluded a framework agreement on their cooperation in the development of electric cars. A step that had become apparent after the basic agreement last summer. There are also initial details on the planned electric cars for the Chine…
Tag: Hefei
Nio extends cooperation with JAC
The Chinese electric car manufacturer Nio has extended its manufacturing cooperation with the state-owned Jianghuai Automobile Group (JAC) until May 2024. JAC will continue to produce the Nio electric models ES8, ES6, EC6, ET7 and possibly other future Nio models at its factory in Hefei. Under the renewed agreement, JAC will double its annual production […]
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Nio is building an industrial park in Anhui
The Chinese electric car manufacturer Nio has started the construction of a huge industrial park called Neo Park in Hefei. An industrial cluster for intelligent electric vehicles will be created there, where not only Nios will be built, but also hundreds of other companies will be located. The ‘Neo Park’ in the capital of Anhui […]
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VW takes over majority of joint venture with JAC
VW took over the majority and thus the management control of the joint venture with JAC with 75 per cent and has immediately renamed the company from JAC Volkswagen to Volkswagen (Anhui) Automotive Company Limited. The name of Anhui Province does not appear in the company name without reason: An eMobility hub is to be […]
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VW and JV partners invest €15Bn in e-mobility in China
Volkswagen will invest around 15 billion euros in electric mobility in China by 2024 with its three joint venture partners SAIC, FAW and JAC. This comes in addition to the €33Bn the Group had already announced in 2019 for the global development of the electric car sector. Last year, Volkswagen set itself the goal of […]
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Nio exceeds Q2 sales projections
The Chinese electric car manufacturer Nio has presented its business figures for the second quarter of 2020, which are significantly more positive than expected. Compared to the same period of the previous year, unit sales were up by almost 190 per cent, while sales increased by almost 150 per cent. For the months of April, […]
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Nio signs credit lines with local banks for 1.3 billion euros
Nio is moving on from crisis as the EV start-up secures fresh capital from banks in China. The company had signed credit lines with six domestic banks for a total of 10.4 billion yuan (around 1.3 billion euros) just days ago. Chinese media localises the news firmly in Anhui province as all of Nio’s new […]
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Electric carmaker Nio is lacking liquidity
The Chinese electric vehicle maker Nio raised substantial doubt in its ability to continue its business due to on-going financial difficulties that have been exacerbated by the coronavirus. The reduced EV subsidies in China also played a part. The Tesla rival has been feeling the decrease in demand in the world’s largest electric car market […]
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Nio launches production of the EC6
The Chinese electric car manufacturer Nio has started production of its third model after the ES8 and ES6. The start of production at the indebted company is also made possible thanks to a framework agreement with the city of Hefei, which is providing Nio with a billion-euro cash injection. The EC6, announced in January, is […]
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Nio starts series production of second ES6 model
The Chinese electric car startup Nio has started series production of its second ES6 model. Both series, the ES6 and the ES8, are currently manufactured at the Nio-JAC plant in Hefei. After Nio’s plans for a factory in Shanghai were abandoned, plans are now being made for a factory in Beijing. The first ES6 is […]
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