CnEVPost Newsletter: NIO's auto sales subsidiary increases registered capital by 50% to $1.5 billion

Yunkuaichong, a Chinese EV charging service provider, announced Monday that it has closed a Series B2 round of funding from NIO Capita, less than three months after closing its Series B round.

NIO has presented the ET7 for the first time in Germany, marking the model’s European debut. It confirmed that the model will be available in Germany next year.

The CATARC figures are based on insurance registrations for vehicles and are closer to true retail sales each month.

The starting price of the Model Y Performance in China has been raised by RMB 10,000 ($1,550) to RMB 387,900, and those who have previously reserved unaffected.

The acquisition would give Xiaomi the capacity and production qualification to quickly put its own products into production.

Lei Jun, the founder, chairman and CEO of Xiaomi, recently visited China FAW Group in the northeastern province of Jilin for in-depth talks on a partnership.

Baidu’s self-driving business unit Apollo launched its robotaxi service in Shanghai on September 12, expanding the service’s coverage to five cities in China.

China now has too many NEV companies, which are small and fragmented, and the industry’s players need to get bigger and stronger in the future, a senior Chinese official said.