Chinese EV maker Xpeng’s flying car company raises over $500 million as it aims to roll out in 2024

Less than half a year since revealing a flying vehicle prototype, Chinese electric car start-up Xpeng unveiled a second model at the Shanghai auto show in April 2021. Evelyn Cheng | CNBC GUANGZHOU, China — HT Aero, the flying car company backed by Chinese electric carmaker Xpeng Inc. and its founder, raised more than $500 … Read more

Shares of China’s Xiaomi jump 5% on news it will mass produce its own electric cars in 2024

Xiaomi CEO Lei Jun holds a press conference about Xiaomi’s new logo and Xiaomi’s car building on March 30, 2021 in Beijing, China. VCG | Visual China Group | Getty Images GUANGZHOU, China — Chinese smartphone Xiaomi is expecting to mass produce its own electric vehicles in the first half of 2024, its CEO Lei … Read more

Elon Musk joins VW executive conference as ‘surprise guest’

Elon Musk made a surprise appearance at a Volkswagen AG conference, addressing 200 executives of one of his biggest competitors about the German company’s pivot to electric vehicles, his management style, and supply chain and production issues. In a rare move by a corporate titan addressing a competitor, Tesla Inc.’s chief executive officer spoke in … Read more

Warren Buffett-backed electric carmaker BYD sees August sales surge more than 300%

BYD’s Han electric car, pictured here at the 2021 Shanghai auto show, is one of the most popular new energy vehicles in China. Evelyn Cheng | CNBC GUANGZHOU, China — BYD sold 61,409 new energy vehicles in August, more than four times the amount sold a year ago, as demand for electric cars continues to … Read more

Amazon-backed electric-vehicle maker Rivian files to go public

Amazon plans to have 10,000 new electric delivery vans from Rivian on the road as early as 2022 and 100,000 of the vehicles on the road by 2030. Amazon/Jordan Stead Rivian Automotive, an electric-vehicle start-up backed by Amazon, announced Friday that it has filed a confidential draft registration form for an IPO. The size and … Read more

As China tightens data rules, Xpeng says it’s on the ‘right side’ of regulation

A new Xpeng P7 car is shown in the Xpeng Motors flagship store in a shopping mall. Xpeng P7 is one of the two popular models of Xpeng motors. Zhang Peng | LightRocket | Getty Images GUANGZHOU, China — Xpeng‘s president says the Chinese electric vehicle maker is on the “right side of the regulation,” … Read more

The electric vehicle boom is pay-dirt for factory machinery makers

The investment surge by both new and established automakers in the electric vehicle market is a bonanza for factory equipment manufacturers that supply the highly automated picks and shovels for the prospectors in the EV gold rush. The good times for the makers of robots and other factory equipment reflect the broader recovery in U.S. … Read more

GM to spend $1 billion to expand Chevy Bolt EV recall due to fires

The Vermont State Police released this photo of the 2019 Chevrolet Bolt EV that caught fire on July 1, 2021 in the driveway of state Rep. Timothy Briglin, a Democrat. Vermont State Police DETROIT — General Motors on Friday said it is expanding its recent recall of Chevrolet Bolt EVs to newer models of the … Read more

Chinese Tesla rival Xpeng expands production capacity as competition heats up

A Xpeng P7 electric car is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 20, 2020 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | Getty Images GUANGZHOU, China — Chinese electric carmaker Xpeng is doubling the production capacity at one of … Read more

Chinese Tesla rival Nio narrows losses as revenue surges 127%

Nio plans to begin deliveries of its ET7 electric sedan in 2022. Evelyn Cheng | CNBC GUANGZHOU, China — Nio shares rose more than 1% in after-hours trade on Wednesday after the Chinese electric carmaker posted a narrower than expected loss and a surge in revenue. The start-up lost 0.42 yuan (US$0.07) per share in … Read more