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CnEVPost Newsletter: Nio China's new financing; BYD's recall

Published 5 days ago • 1 min read

CnEVPost Newsletter: Daily Recap

Sept 29, 2024

​Nio announces $470 million investment in Nio China from strategic investors​

Nio China has received a new investment of RMB 3.3 billion from strategic investors in Hefei, and Nio will also invest RMB 10 billion to subscribe for newly issued shares in Nio China.

​Deutsche Bank gives positive read on Nio China's new financing​

New investment secured by Nio China reduced the immediate share dilution risk of Nio and is positive for Nio's share price, according to Deutsche Bank.

​Nio Onvo promises customers ordering L60s now will get deliveries within this year​

Nio's sub-brand Onvo has promised that customers ordering L60s now will get deliveries within this year, saying that bottlenecks previously limiting capacity ramp-up are being quickly resolved.

​BYD recalls nearly 100,000 EVs over fire risk​

BYD is recalling 96,714 Dolphin and Yuan Plus vehicles in China starting September 30, for fire risk due to manufacturing process.

​CATL production site catches fire, no injuries reported​

A CATL production site in Ningde, Fujian, where the company is headquartered, caught fire in one of the rare accidents in battery manufacturing.

​Neta starts sales in Indonesia, to deliver 1st locally built EVs soon​

Neta has launched the Neta X SUV in Indonesia and said it is about to deliver its locally assembled vehicles to the first 500 owners.

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China EV news, data, insights and more.

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