CnEVPost Newsletter: NIO's $2 billion share offering, 2022 capacity target, ES8 crash test

NIO targets annual production capacity of 600,000 units by end of 2022 - CnEVPost — cnevpost.com Another 300,000 units of capacity will come from the plant currently under construction in NeoPark, which is expected to be completed in the second half of 2022.

NIO announces plan to issue additional $2 billion ADSs via at-the-market offering - CnEVPost The company plans to use the net proceeds from the offering to further strengthen its balance sheet, as well as for general corporate purposes, NIO said.

NIO ES8 gets 5-star safety rating in European crash test - CnEVPost As deliveries of the NIO ES8 in Norway are set to begin this month, the model's quality has received the endorsement of a prestigious European body.

Intel to launch NIO ES8-based robotaxi service test in Germany next year - CnEVPost Intel will launch a self-driving ride-hailing robotaxi service test in Munich next year, with plans to roll it out across Germany and eventually Europe in the next few years.

NIO, XPeng included in final list for China's connected car pilot program - CnEVPost Of the total 61 pilot projects, NIO is involved in three, and XPeng is involved in one. Li Auto does not appear in the list.

XPeng said to have formed venture capital arm - CnEVPost The fund's size is unknown, but it is much larger than NIO's venture capital arm, NIO Capital, the report said.

Li Auto to roll out new OTA update for vehicles, bring English language support - CnEVPost Li Auto said Wednesday it will push the latest version 2.2 OTA update to all Li ONE vehicles, the company's only model, by September 15.

Tesla China achieves record wholesale sales of 44,264 units in Aug, exports 31,379 units - CnEVPost Tesla China's wholesale sales reached a record 44,264 units in August, up 275 percent year-on-year and up 34 percent from July, according to data released Wednesday by the China Passenger Car Association.

BYD's NEV sales highest in China in August - CnEVPost Tesla China's wholesale sales for the month were 44,264 units and SAIC-GM-Wuling 43,783 units, ranking behind BYD, the data showed.

Huawei execs visit Dongfeng Motor for talks in smart driving - CnEVPost The two sides had an in-depth exchange of views on cooperation in the fields of vehicle networking and intelligent driving.

Great Wall Motor posts 12,163 NEV sales in Aug, up 147% year-on-year - CnEVPost The company's production and sales in August were affected by a sharp drop in the supply of Bosch ESP and other parts due to the Covid-19 in Southeast Asia.

Sinopec starts construction of new hydrogen production project in Guangdong - CnEVPost The project will be based on Sinopec's in-house developed technology and will be put into operation in the first quarter of next year.

China's passenger NEV retail sales reached 249,000 units in Aug, up 167.5% year-on-year - CnEVPost Retail penetration of new energy vehicles in China, their share of total sales of all vehicles, reached 17.1 percent in August.

China's Ministry of Transport demands compliance of ride-hailing platforms - CnEVPost Effective immediately, these platforms are not allowed to grant new access to non-compliant vehicles and drivers and should accelerate the retirement of non-compliant drivers and vehicles.