Gasgoo Daily: NIO closes $2.2 billion strategic equity investment from CYVN

With Gasgoo Daily, we will offer daily important automotive news in China. For those we have reported, the title of the piece will include a hyperlink, which will provide detailed information.

NIO closes $2.2 billion strategic equity investment from CYVN

NIO Inc., a Chinese company in the premium smart electric vehicle market, today announced that it has closed the $2.2 billion strategic equity investment from CYVN Investments RSC Ltd, an investment vehicle based in Abu Dhabi, as announced on December 18, 2023.

Photo credit: NIO

GAC MOTOR's St. Petersburg transit warehouse put into operation

On December 25, GAC MOTOR Russia's second complete vehicle transit warehouse, located in St. Petersburg, Russia, was officially put into operation. Simultaneously, its second logistics provider also made its inaugural shipment. A representative from dealerships expressed, "The official launch of GAC MOTOR's St. Petersburg Transit Warehouse and the simultaneous first shipment by the new logistics provider will significantly increase GAC MOTOR's logistics resources, ensuring the stable and timely delivery of vehicles to every dealership and customer."

First mass-produced unit of Chery Fulwin T9 rolls off line

On December 28, the first mass-produced unit of the Chery Fulwin T9, the fire new plug-in hybrid electric SUV under the Fulwin new energy vehicle range, came off the assembly line at Chery's Qingdao plant.

ECARX, smart co-build software joint venture in Hangzhou, Zhejiang Province

On December 28, Geely-backed mobility technology firm ECARX partnered with electric vehicle maker smart to announce the formation of Zhimda Software Technology Co., Ltd. ("Zhimada" in Chinese pinyin).

Xiaomi unveils 5 core automotive technologies in auto tech conference

At 2 PM on December 28, 2023, Xiaomi's automotive technology conference took center stage. Lei Jun, Xiaomi's founder, chairman, and CEO, unveiled Xiaomi's five fundamental car-making technologies: electric drive, battery, high-pressure die casting, intelligent driving, and smart cockpit.

Meituan, NIO Capital invests in Sichain Semiconductor's Pre-B funding round

On December 28, high-end SiC power device manufacturer, Sichain Semiconductor, announced the successful completion of its Pre-B round financing, which raised for the company several hundred million yuan.

3rd-Gen Hongqi L4 Robotaxi passes unmanned driving license test in Beijing

Recently, the AI development arm of FAW Group, FAW (Nanjing) Technology Development Co., Ltd., saw its Hongqi-based L4 Robotaxi passed the L4 Robotaxi unmanned test license examination in the Beijing High-level Automated Driving Demonstration Area (BJHAD), the automaker announced on December 27.

ARCFOX α T5 hits market with 800V supercharging capability

On December 27, BAIC Group's premium new energy vehicle brand, ARCFOX, officially put the α T5 onto the market with four variants, whose prices range from 155,800 yuan to 203,800 yuan.

ZEEKR's first sedan model ZEEKR 007 hits market, starting at 209,900 yuan

On December 27, the ZEEKR 007, the first sedan model under Geely's premium electric vehicle brand ZEEKR, hit the market with five trim levels offered, featuring a price range of 209,900 yuan to 299,900 yuan.

Ji Yue, Changshu Automotive Trim Group ink agreement to step up cooperation

On December 26, Ji Yue, the automotive robot (Robocar) brand jointly backed by Geely and Baidu, signed an agreement with Changshu Automotive Trim Group Co., Ltd. ("CAIP") to cement their strategic partnership. The event also celebrated the successful delivery of the initial fleet of twelve units of the Ji Yue 01, Ji Yue's first production model, to CAIP.

Sunwoda Mobility Energy Technology inaugurates NEV electronics manufacturing base in Maoming city

On December 27, Sunwoda Mobility Energy Technology Co., Ltd. ("SEVB"), a subsidiary of Sunwoda Electronic Co., Ltd., officially inaugurated its manufacturing base in the Dianbai district of Maoming city, Guangdong province.