Chinese augmented reality glasses maker Nreal valued at $700 million after fresh funding

An attendee tries a pair of Nreal mixed-reality glasses at the MWC Shanghai exhibition in Shanghai, China, on Tuesday, Feb. 23, 2021. Qilai Shen | Bloomberg | Getty Images GUANGZHOU, China — Chinese augmented reality (AR) glasses maker Nreal has raised $100 million to fund international expansion and develop new products. Augmented reality refers to … Read more

China’s EV sector is poised for ‘inevitable’ consolidation, says Bain consultant

The electric vehicle sector is seeing its “most exciting moment” now — and consolidation in the sector cannot be avoided, says Bain & Company’s Helen Liu. “I would say that consolidation is an inevitable trend in this industry,” Liu, partner at the consultancy firm, told CNBC’s “Capital Connection” on Tuesday. She cited reasons such as … Read more

China’s booming electric car industry is much bigger than just Nio and Xpeng

SAIC-GM-Wuling Automobile Co. electric vehicles are plugged in at charging stations at a roadside parking lot in Liuzhou, China, on Monday, May 17, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — While investors watched dramatic surges in the stock prices of Chinese electric car makers like Nio and Xpeng, tens of thousands of … 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

Fuel-cell vehicles are set for big gains in China’s commercial truck market, JPMorgan says

Hydrogen fuel cell vehicles are set to become a major player in China’s commercial truck market, predicts JPMorgan’s Elaine Wu. “Currently, the fuel cell vehicles account for less than 5% of the commercial truck market in China and that could grow to about one-third of total market share in 2050,” Wu, head of Asia ex-Japan … 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

Nasdaq-listed Chinese electric carmaker Li Auto to raise up to $1.93 billion from Hong Kong listing

A Li Xiang One hybrid SUV is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 23, 2020 in China. Li Zhihao | Visual China Group | Getty Images GUANGZHOU, China — Chinese electric vehicle start-up Li Auto plans to raise around $1.93 billion in a … Read more

Stocks making the biggest moves midday: Goldman Sachs, United, Discovery and more

A sign is displayed in the reception area of Goldman Sachs in Sydney, Australia. David Gray | Reuters Check out the companies making headlines in midday trading. JPMorgan, Goldman Sachs, Bank of America — Bank stocks led the market comeback on Friday as bond yields rebounded. JPMorgan, Goldman Sachs and Bank of America climbed more … Read more

Stocks making the biggest moves midday: Didi, Diamondback Energy, Whirlpool and more

A navigation map on the app of Chinese ride-hailing giant Didi is seen on a mobile phone in front of the app logo displayed in this illustration picture taken July 1, 2021. Florence Lo | Reuters Check out the companies making headlines in midday trading. Didi — The sell-off in the Chinese ride-hailing company continued with … Read more