CnEVPost Newsletter: Li Auto launches share offering in HK, seeks to raise up to $1.9 billion
Li Auto seeks to raise up to $1.9 billion in HK listing, shares expected to start trading Aug. 12 - CnEVPost — cnevpost.com Li Auto on Tuesday announced the launch of a global offering of 100 million shares of its Class A common stock, including a public offering of 10 million shares in Hong Kong and an international offering of 90 million shares.
Li Auto's HK public offering oversubscribed on first day of launch - CnEVPost Li Auto received a margin subscription of HK$1.697 billion today, which represents an oversubscription of about 13 percent, considering that its public offering will raise about HK$1.5 billion.
NIO denies it will launch ES7 next year - CnEVPost NIO has denied the rumors that it will launch a new model called ES7 next year.
NIO offers preferential car purchase benefits to customers in flood-hit Zhengzhou - CnEVPost Between July 20 and Aug. 31, consumers in Henan province who pay a deposit for an NIO model can enjoy a 3-year interest-free benefit of RMB 300,000 ($46,425) and down payments as low as 15 percent.
NIO-backed self-driving truck firm closes new $270 million round of financing - CnEVPost Inceptio was founded in April 2018 by IoT platform G7, GLP, and NIO Capital, with a business focus on autonomous driving for logistics operations.
NIO-backed mining self-driving firm raises tens of millions of dollars in new funding round - CnEVPost The market space for overseas mines is huge, and Yikong has the opportunity to provide low-cost and efficient driverless transportation services for overseas mines, generating greater economic value, Zijin Mining said.
XPeng exec says it's only a matter of time before Chinese EV trio sees monthly sales exceed 10,000 - CnEVPost "The future is here because the minds of users are being changed, and even traditional car companies selling 200,000 a month can't ignore that," he said.
Tesla reportedly shifting sales outlets away from expensive malls in China - CnEVPost If this is true, it means Tesla is changing its sales model, which has been copied by many other car companies and moving back to a more traditional approach.
Analysts say BYD's market cap on track to reach RMB 1 trillion - CnEVPost Analysts at Huachang Securities see BYD's market capitalization heading toward RMB 1 trillion ($155 billion), citing strong fundamentals including its auto business as well as its battery business.
Chinese market regulator probes auto chip distribution firms for suspected price gouging - CnEVPost A semiconductor index in Shanghai extended its decline to more than 6 percent on the news.
Arcfox delivered 525 units in July, up 90 percent from June - CnEVPost In late May, the Arcfox α-S's production-line verification vehicle officially rolled off the production line, with small-volume deliveries scheduled for the fourth quarter of this year.
China's official securities paper focuses on overcapacity of new car makers - CnEVPost NIO, Li Auto, and XPeng have gone public and entered a positive cycle; however, many other new automakers have fallen into production suspensions, unpaid salaries, and bankruptcies, the report said.
EV battery maker CALB fights back against CATL's patent lawsuit - CnEVPost CALB confirmed it has received a patent lawsuit against the company by CATL, saying it has submitted a request for invalidation of those patents to the China National Intellectual Property Administration.
Shenzhen is the city with most NEVs in China - CnEVPost The southern Chinese megalopolis of Shenzhen has the largest number of new energy vehicles in China for the sixth consecutive year, with 480,000 vehicles, or about 14 percent of the city's motor vehicle fleet, by the end of 2020.
People's Daily calls on China to speed up construction of new power system - CnEVPost A report in People's Daily on Tuesday called on China to deepen its power system reform and build a new power system dominated by new energy sources.