Mexican Media Brands
Chinese EV Startup Nio Attracts $1 Billion in Funding
Shanghai-based Nio, a three-year-old developer of high-performance electric vehicles, has raised more than $1 billion in a new fundraising round led by Tencent Holdings Ltd., sources tell Reuters.
#hybrid #economics
Share
Shanghai-based Nio, a three-year-old developer of high-performance electric vehicles, has raised more than $1 billion in a new fundraising round led by Tencent Holdings Ltd., sources tell Reuters.
Formerly known as NextEV Ltd., Nio is launching a seven-passenger electric crossover vehicle called the ES8 in China next month. The company, which also operates offices in Europe and the U.S., says it will introduce a self-driving EV in the U.S. by 2020.
In May, Nio’s 1,342-hp EP9 electric supercar set a new track record at Germany’s Nurburgring Nordschleife course by knocking two seconds of the previous lap record set by a piston-powered Pagani Zonda R racer in 2010. The company also is active in Formula E racing.
Reuters notes that Nio had a market value of about 20 billion yuan ($3 billion) in April after raising $600 million in an earlier fundraising.
RELATED CONTENT
-
Hyundai Shops for a Partner to Make Electric Scooters
Hyundai Motor Co. is looking for a domestic partner to mass-produce the fold-up Ioniq electric scooter it unveiled at last year’s CES show in Las Vegas, a source tells The Korea Herald.
-
Bolt EV: Like a Hammer Through a Screen
Some of you may remember the Apple “1984” commercial that ran on January 22, 1984, the ad that announced the Macintosh to the world.
-
Internal Combustion Engines’ Continued Domination (?)
According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.