Premium Chinese EV Brand Zeekr Seeks to Raise $1 Billion in U.S. IPO, According to Sources

Newly launched electric vehicle brand Zeekr Intelligent Technology Ltd. ("Zeekr"), which is owned by Chinese automaker Zhejiang Geely Holding Group ("Geely"), aims to launch an IPO in the U.S. to raise capital from investors. Zeekr is planning to become a U.S.-listed company as early as the second quarter of 2023.

Eric Walz2022-12-12 12:30 PT

Volkswagen Group China Unveils its ‘Flying Tiger’ Electric Vertical Take-Off and Landing (eVTOL) Passenger Aircraft Prototype

Volkswagen Group China (VGC), the joint venture of Germany-based Volkswagen Group, unveiled its first electric vertical take-off and landing (eVTOL) passenger drone prototype nicknamed "Flying Tiger". The eVTOL aircraft is part of the automaker’s strategy to explore and break new ground in fully electric and sustainable mobility concepts. The prototype is based on VGC’s existing autonomous driving and EV battery technology.

FutureCar Staff 2022-09-02 13:15 PT

Tesla Hikes Prices for the Second Time in Less Than a Week Due to Inflation and the Rising Costs of Raw Materials

Electric automaker Tesla announced a second price hike in less than a week for all of its electric models on sale in the United States and China. The company says it is due to the rising costs of raw materials and logistics, which are being made worse by Russia’s invasion of Ukraine. Chief Executive Elon Musk said the company is facing significant inflationary pressure.

FutureCar Staff 2022-04-21 12:45 PT

Tesla Sold 56,515 China-Built Vehicles Last Month

​The China Passenger Car Association (CPCA), which tracks auto sales each month in the world’s biggest car market, said on Tuesday that electric automaker Tesla sold 56,515 China-built vehicles during the month of February. The total includes 33,315 vehicles for export. Tesla's rising sales in China comes amid growing competition from new EV startups, including NIO Inc. and XPeng Inc.

FutureCar Staff 2022-04-14 15:55 PT

HT Aero, an Aviation Company Backed by Chinese EV Startup XPeng, Details its Latest ‘Flying Vehicle’ Named the X2

Aviation company HT Aero, which is backed by Chinese electric automaker XPeng Inc, has unveiled future urban usage scenarios for its fifth-generation eVTOL flying vehicle dubbed the “XPeng X2." The X2 will be presented at the 13th China International Aviation & Aerospace Exhibition (Airshow China 2021) beginning Sept 28 to showcase its abilities.

Eric Walz2021-10-31 14:40 PT

Tesla’s Local Sales in China Plunged 69% in July Compared to June

Tesla's July sales figures in China were announced on Tuesday by the China Passenger Car Association and it shows that most of the electric vehicles Tesla built at its Shanghai factory last month were exported to other countries. Local sales of China-made vehicles fell by 69% to just 8,621 cars compared to June when Tesla sold 28,138 electric vehicles to customers in China.

FutureCar Staff 2021-09-16 12:55 PT

Li Auto Takes First Place in New Vehicle Insurance Registrations for China’s EV Startups in the Month of June

New Energy Vehicle (NEV) startup Li Auto topped the list in new vehicle registrations for China’s EV startups for the month of June, according to the China Automotive Technology & Research Center. It’s the first time ever that Li Auto took the top spot for New Energy Vehicle (NEV) startups in monthly insurance volume.

Eric Walz2021-08-18 11:55 PT

China’s Tesla Challengers NIO Inc. and XPeng Both Report Record Electric Vehicle Deliveries in June

China’s New Energy Vehicle market, which includes fully-electric and hybrid vehicles, is heating up. Two of China’s newest EV startups, NIO Inc. and XPeng, both reported record sales for the month of June.

Eric Walz2021-08-07 12:30 PT

Tesla’s Electric Vehicle Sales Declined by Nearly Half Last Month in China

As Tesla deals with the fallout of increased government scrutiny over its customer service and how it handles data, its vehicle sales fell last month in China by nearly 50%. Tesla is also facing growing competition from rival automakers in China in the electric vehicle space.

FutureCar Staff 2021-07-11 12:45 PT

U.S. Listed New Energy Vehicle Startup Li Auto Refreshes its Li ONE SUV, Expects Monthly Sales of 10,000 Vehicles by Sept

Chinese New Energy Vehicle (NEV) startup Li Auto unveiled the refreshed Li One SUV with improvements in the powertrain, driving assistance system, intelligent cockpit, and user experience. With its redesigned Li ONE, the automaker expects monthly deliveries to reach 10,000 units by September, according to Shen Yanan, President & Co-founder of Li Auto.

Eric Walz2021-07-04 12:55 PT

China’s Tesla Challenger Xpeng Reveals its New P5 Fastback, the World’s First Production EV Equipped with Lidar for Autonomous Driving

Chinese electric vehicles startup XPeng Motors revealed its third production model named the P5, which is the world’s first production EV equipped with automotive-grade LiDAR technology to support the vehicle’s autonomous driving capabilities. The P5 is a fully-electric four door fastback packed with cutting edge technology, including Xpeng’s XPILOT 3.5 autonomous driving system.

Eric Walz2021-05-21 11:30 PT

'New Energy Vehicle' Insurance Registrations in China Show Tesla is the Top Selling Brand Over EV Startups

For the month of February, consumers in China purchased Mandatory Liability Insurance for 18,039 China-made Tesla vehicles. Of the 18,039 Tesla vehicles registered, 13,394 were Model 3 sedans and 4,645 were Model Y crossovers. The new Tesla registrations in February are more vehicles than China’s six leading EV startups combined, including NIO, XPeng and Li Auto.

Eric Walz2021-05-05 13:25 PT

Electric Vehicle Startup and Tesla Challenger NIO Forced to Suspend Production Due to Chip Shortages

The ongoing semiconductor shortages continues to affect the world’s automakers, which have been forced to idle factories or scale back vehicle production due to not having the required chips. The latest automaker forced to halt production is China’s NIO Inc., which is one of China’s biggest competitors to Tesla.

Eric Walz2021-05-02 16:00 PT

Electric Vehicles Made Up 54% of All New Car Sales in Norway in 2020

​Norway became the first country in the world where the sale of electric cars has overtaken those powered by fossil fuels. In 2020, battery electric vehicles (BEVs) made up 54.3% of all new car sales in the Nordic country, which is a global record. The figure is up from 42.4% in 2019, according to the Norwegian Road Federation.

Eric Walz2021-02-11 12:35 PT

Chinese Electric Automaker Xpeng Motors Files for U.S. IPO in Bid to Challenge Tesla

Electric automaker Xpeng Motors is planning to list its shares on the New York Stock Exchange (NYSE), becoming the latest electric vehicle company to launch an IPO in the U.S. to raise new capital to challenge Tesla. Xpeng is hoping to cash in on the current investor trend of pouring money in new electric vehicle startups.

Eric Walz2020-09-15 10:00 PT

Tesla Sues Electric Truck Startup Rivian for Stealing Trade Secrets

​Electric automaker Tesla has filed a lawsuit in California against electric truck maker Rivian, accusing the startup of stealing trade secrets and poaching employees. In its suit, Tesla claims that Rivian displayed an “alarming pattern” of poaching its employees and stealing trade secrets. However, Rivian has denied the allegations.

Jeremy Carlton2020-08-30 14:30 PT

Autonomous Driving Startup Zoox Agrees to Settle Lawsuit Filed By Tesla Over Stolen IP

Silicon Valley-based autonomous vehicle developer Zoox, a company developing bi-directional self-driving shuttles for a planned commercial robotaxi service, has agreed to settle a lawsuit filed by electric carmaker Tesla. Tesla filed its suit in March of last year accusing four Zoox employees of taking proprietary documents.

Eric Walz2020-05-22 13:25 PT

Fiat Chrysler & Foxconn Plan an Electric Vehicle Joint Venture in China

​Italian American automaker Fiat Chrysler is looking to bolster its presence in China and plans to build electric, connected vehicles for the world’s biggest auto market in a new joint venture with Foxconn.

FutureCar Staff 2020-02-22 14:05 PT

Toyota to Sell Electric Vehicle Technology to Chinese EV Startup Singulato

Toyota Motor Corp has agreed to sell electric car technology to EV startup Singulato Motors, its first deal with a Chinese electric vehicle startup. The deal to license EV technology will allow the startup carmaker to speed up development of a lower-priced, compact electric vehicle for the China market.

FutureCar Staff 2019-05-22 13:29 PT

Tesla Sues Autonomous Driving Startup Zoox & Chinese EV Startup XPENG for Trade Secret Theft

On Wednesday, Tesla Inc. sued former employees of both Zoox and Xiaopeng Motors, accusing them of trade secrets theft related to autonomous vehicle technology. The pair of lawsuits was filed in U.S. District Court of Northern California in San Jose.

FutureCar Staff 2019-04-27 12:00 PT