CnEVPost Newsletter: NIO secures new investment; China NEV insurance registrations
The investment will further strengthen NIO's balance sheet to power its continuous endeavors in accelerating business growth, driving technological innovations and building long-term competitiveness, said William Li.
NIO was 2,000 units last week, higher than the previous week's 1,500 units. From June 1 to June 18 NIO sales were 4,800 units.
NIO's about-face highlights the plight now facing China's EV makers, as they try to navigate an unexpected turn in the road that analysts say could stretch on for some time to come.
NIO's first phone model will be released and begin deliveries in the third quarter, William Li said in April.
Midea's automotive parts division, Welling, will provide thermal management products, including electric compressors, for the entire XPeng model line.
The Denza N7 will go on sale later this month, with deliveries to begin in July.
That means Leapmotor has delivered 7,038 vehicles so far this month. The company delivered 12,058 vehicles in May.
Leapmotor will enter the European market, and ZF will use its branding in Europe to help the NEV maker.
HiPhi's third model, the HiPhi Y, which will be launched in China on July 15, will also be introduced to the European market soon and will be available for pre-order there by the end of the year.
The Buick Electra E4 starts at RMB 189,900 in China, with deliveries set to begin in July.
The joint venture will bring Qiantu's K50, K20 and K25 to Jordan and serve the Middle East and North African markets, Qiantu said.
Weekly insurance registrations for vehicles of NIO, XPeng, Li Auto, Tesla, Zeekr, Neta, and Leapmotor are included in this article.
Thanks for reading CnEVPost Newsletter! Subscribe for free to receive new posts and support my work.