CnEVPost Newsletter: Nio to issue $1 billion convertible notes; China EV insurance registrations
Nio announces plan to issue $1 billion convertible notes, shares down after-hours
Nio plans to use a portion of the net proceeds to repurchase certain existing debt securities, with the remainder to be used primarily to further strengthen its balance sheet position and for general corporate purposes.
Nio seeks to price $1 billion convertible notes at up to 4.75% coupon, report says
Nio seeks to price its 2029 notes at a coupon rate of 3.5 percent to 4.0 percent and its 2030 notes at a coupon rate of 4.25 percent to 4.75 percent, according to Bloomberg.
Nio to hold innovation day on Sept 21, its 1st phone expected to be launched
Nio will hold a launch event on September 21 from 11 am to 12 pm Beijing time to unveil a new mobile internet product, and it's expected to be its first phone.
Xpeng launches new G9, aims to be top-selling electric SUV in RMB 250,000-300,000 range
The new G9 transitions to Xpeng's latest SEPA architecture and has a starting price that's RMB 46,000 lower than the old model.
China EV insurance registrations for week ending Sept 17: Nio 3,900, Li Auto 9,100, Tesla 8,500
Between September 1 and September 17, Li Auto was 20,100, Nio was 9,900 and Xpeng was 6,900.
Food delivery giant Meituan's CEO further cuts holdings in Li Auto
Wang Xing, CEO of Meituan, cashed in about HK$311 million last week in four consecutive sell-offs of Li Auto's Hong Kong-traded shares.
Li Auto has no plans to make phones, CEO says
A prominent product manager in China's smartphone industry has joined Li Auto, sparking speculation that the carmaker may follow Nio and make phones.
Zeekr seeks valuation comparable to Nio in planned US IPO, report says
Zeekr is seeking an $18 billion valuation in a planned US IPO, though investors believe that's higher than they expected, according to local media.
Baidu and Geely's joint brand Jiyue begins pre-sales of debut model Jiyue 01
Jiyue 01 pre-sales start at RMB 259,900, and its first production vehicles rolled off the assembly line today at Geely's plant in Ningbo, Zhejiang province.
Shell opens its largest-ever charging station in Shenzhen, able to serve over 3,300 EVs per day
The site, operated by a joint venture between Shell and BYD, offers 258 fast-charging terminals.