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GWM-backed battery maker SVOLT bags 6 billion yuan in B+ funding round
GWM-backed battery maker SVOLT bags 6 billion yuan in B+ funding round

SVOLT, a GWM (Great Wall Motor)-linked Chinese power battery maker, has secured 6 billion yuan ($942.11 million) in a B+ funding round, the company announced a few days ago via its WeChat account.

Dec. 13 , 2021
Gasgoo Daily: HOZON Auto given credit line worth 2 billion yuan from Bank of Shanghai
Gasgoo Daily: HOZON Auto given credit line worth 2 billion yuan from Bank of Shanghai

With Gasgoo Daily, we will offer daily important automotive news in China.

Dec. 10 , 2021
CATL, BYD make up 68% of China’s Jan.-Nov. installed power battery capacity
CATL, BYD make up 68% of China’s Jan.-Nov. installed power battery capacity

Regarding the Jan.-Nov. installed power battery capacity, CATL and BYD together accounted for 68% of the country's total volume.

Dec. 10 , 2021
Court seizes Beijing Borgward’s RMB2.2 billion assets for creditors
Court seizes Beijing Borgward’s RMB2.2 billion assets for creditors

The commercial vehicle subsidiary of BAIC Group, Foton, announced that its subsidiary Beijing Borgward received a court-ordered seizure for its RMB2.2 billion worth of assets, petitioned by creditors.

Dec. 10 , 2021
NIO fulfills annual target of battery swap station deployment ahead of schedule
NIO fulfills annual target of battery swap station deployment ahead of schedule

NIO installed its 700th battery swap station in China on Dec. 10, hitting its annual target ahead of schedule, according to NIO’s press release.

Dec. 10 , 2021
Tesla Model 3’s new versions unveiled in MIIT’s patent images with lower e-motor output
Tesla Model 3’s new versions unveiled in MIIT’s patent images with lower e-motor output

The Tesla Model 3, currently one of hotter-selling all-electric sedan model in China, will soon get two new versions with lower e-motor power outputs, according to the Ministry of Industry and Information Technology (MIIT)’s documents.

Dec. 10 , 2021